![]() We will submit your full mortgage application and your dedicated case handler will keep you updated on the process until the point we receive your formal mortgage offer. If you are happy with the recommendation, we can then look at obtaining your mortgage agreement in principle (AIP).Īrmed with your AIP, it’s time to go house hunting! Once you have had an offer accepted, you will then need to speak with your Mortgage Advisor in Newcastle, to proceed with your full mortgage application.įrom this point onwards, it’s down to us. Your Mortgage Advisor in Newcastle will then recommend you the best deal available, not just looking at the headline rate, but all aspects and costs involved with that particular product. With this information in hand, we will then search our various lenders to find you the most suitable mortgage product. The first step is to get you booked in for a Free Mortgage Consultation with a qualified Mortgage Advisor.ĭuring your initial consultation, your Mortgage Advisor in Newcastle will collate information surrounding your current financial situation. With our extensive time in the industry, there is rarely a situation that we haven’t come across.Īs a Mortgage Broker in Newcastle, it is our job to find you the best mortgage or remortgage for your circumstances. Over the years as a Mortgage Broker in Newcastle, we’ve spoken to and helped thousands of customers in achieving their mortgage goals. We work with a large number of lenders, which enables us to search through thousands of deals to ensure you take out the most appropriate mortgage for your individual situation. We’re here to put your mind at ease and answer any mortgage questions you have, both before and during the process. Our Mortgage Advisors will be always open and honest, recommending the best options for your circumstances. Our goal is to help you achieve your mortgage needs by providing a high standard of Mortgage Advice in Newcastle. We’ll be here to answer all your questions throughout the whole process. Getting a new mortgage or porting an existing mortgage isn’t always easy. ![]() As a team, we are proud of the service we provide and aim to provide the same level for every customer we speak to. The quicker you supply your paperwork, the faster your lender can approve your mortgage so you can concentrate on moving in to your new dream home.Feel free to read our genuine reviews from some very happy customers. You’ll need to show your most recent three months’ bank statements too. You usually need to give the lender your latest three months’ payslips or latest two years’ accounts if you’re self-employed. It’s a good idea to start getting your paperwork ready while you search for a house. You’ll be asked to provide proof of your earnings and outgoings, along with the source of your deposit and your identification, so the lender can carry out a thorough assessment of your circumstances. If you’re dealing with a lender directly you’ll need to contact them to tell them you’ve made an offer on a house and you want to proceed with your application. If you’re using a mortgage broker, it will do that for you. Once you have viewed real homes and found a house, it is time to start a full mortgage application. (Image credit: Foxtons) What is the next stage in the mortgage loan process? If it expires you’ll need to apply again, which could mean a further credit search. How long does a mortgage in principle last?Ī mortgage in principle can last for between 60 to 90 days. ![]() You may be declined a mortgage in principle because you have had credit issues, income is too low or your outgoings or debts are too high. If you’ve been rejected, it will affect your credit rating. If you’re referred, it means your application has been passed to an underwriter, who will take a closer look at your circumstances before making a decision. You’ll either be accepted, rejected or referred. Can I be rejected for a mortgage in principle? However, if a lender checks your credit report and sees lots of searches from other lenders in a short period it may be concerned that you’re a credit risk and decide not to lend to you. Soft searches don’t show on your credit report. Multiple searches will not damage your credit score. Other lenders will be able to see you have applied for a mortgage in principle. A hard credit search means it will show up on your credit report, called a footprint. The lender will look at your credit report before deciding to offer you a mortgage and how much.Īsk your broker or lender if it is a hard or soft credit search. ![]() If you’re using a mortgage broker they may charge you a fee for providing mortgage advice if you decide to use them to arrange your mortgage. (Image credit: Nationwide) Does a mortgage in principle cost anything? ![]()
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