Mortgage Journey
Buying a home – the Property Journey
Time to start your journey
Every house sale is different, so it’s impossible to say exactly how long yours will take. But one thing’s certain. No matter how long you have to wait, it’ll all be worth it once you’re sitting on the floor of your brand new pad with a takeaway on your lap and boxes all around you waiting to be unpacked!
Step # 1
- Speak to an adviser for initial advice
Step # 2
- Check your credit file and provide this and your documents to your adviser
Step # 3
- Have an initial affordability and budget discussion with your adviser
Step # 4
- Product recommendation from your mortgage adviser, at this stage we can recommend a solicitor for you and recommend insurance too
Step # 5
- Agreement in principle completed with the lender
Step # 6
- Find a property and have your offer accepted via the estate agent, or solicitor in Scotland
Step # 7
- Finalise the mortgage recommendation with your mortgage adviser based on your specific property and figures and the current rates
Step # 8
- Mortgage adviser collates final documents and submits application to the lender
Step # 9
- Mortgage lender reviews documents
Step # 10
- Mortgage lender reviews property – see here for explanation on types of valuations and why you may want to instruct your own additional valuation once the mortgage offers
Step # 11
- Mortgage offered 🎉 you can now instruct solicitors if you have not done so already
Step # 12
- Solicitor completes searches and enquiries, sends mortgage deeds etc. and finalises exchange and completion dates
Step # 13
- Exchange – you are now legally responsible for your new home – insurances can now be in place at this point
Step # 14
- Completion – pick up your keys – you own your new home!!!
EVERY PROPERTY JOURNEY IS UNIQUE AND IF YOU ARE ALSO SELLING A PROPERTY OR BUYING THROUGH A SCHEME THERE MAY BE EXTRA STEPS BUT THE ABOVE IS INTENDED TO GIVE YOU AN INDICATION OF HOW THE PROCESS COULD PROCEED
