Your adviser is the person you should liaise with regarding the process and technical advice. General updates will be provided by our admin team (refer to the mortgage submission document for the mortgage process).

Due to the impact of Covid19 and as per the government guidelines, some lenders are currently working remotely and on reduced staff levels. There is also an influx of new mortgage applications due to changing criteria in the mortgage market. The lenders are also bringing out new criteria for affordability purposes to ensure that all customers are not at risk by taking out this commitment in the current climate, hence longer turnaround times for underwriting and processing the new applications.
The lenders are also prioritising existing customers taking payment holidays.

Your application will only be escalated by the lender if your completion is imminent and the lender would also require confirmation from your solicitor.

We liaise with the builders directly throughout the process of your mortgage application, so they have continuous updates. We will also aim to get your mortgage offer issued prior to this deadline, however in the event that this does not happen, we will discuss with the builder as they will be aware this is out of our control due to the turnaround times.

When you buy a house and need a mortgage, a lender will commission a mortgage valuation. … The valuation advises the lender of the value of a property and of any characteristics of the property including significant defects which might affect its value as security for the proposed loan.

This means that the lender has checked your income documents and are happy to accept your application subject to a satisfactory valuation.

A lender may decline a mortgage application after valuation if any additional credit is picked up in the background and the lender then deems your mortgage application to be unaffordable. Any additional or adverse credit picked up throughout the mortgage application could also result in a decline.

Do not apply for credit shortly before or during the mortgage process this is because the lenders credit searches are live throughout the mortgage process and will be alerted to any change in your credit file. Therefore, we STRONGLY recommend that you DO NOT take out any additional credit as this could impact your application.

This is a letter from the help to buy agency confirming that you are eligible for the help to buy scheme and can proceed with the purchase of the property, under this scheme. Within the letter will be a full financial breakdown of any of the terms of sale.

Yes, you can always contact ourselves throughout the process. If you are seeking advice regarding the legal process however, we ask you to contact your solicitor as we will not be able to advise.

This is a formal period of time which allows you to consider a mortgage offer. The reflection period does not affect how long your offer is valid for.

As all lenders are different, we recommend that you call the lender once you have received confirmation from your solicitor that your sale has completed. The lender will be able confirm the date your payment will be taken and the amount for your first payment which could be higher dependant on the day you complete. You can find the contact details for this on your mortgage offer and will need your mortgage account number (also confirmed on your mortgage offer). The lender will also write to you within 14 days after completion to confirm this.

The lender must populate a completion date in order to calculate the mortgage payment, please note, this is for illustration purposes only. The lender will calculate the correct amount for your first mortgage payment once you have a confirmed completion date. Please also note, the lender will not take any payments until the funds have been released and sent to your solicitor for completion.