First time buyers

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The following are the typical steps in buying a new property:

• Borrowing check — amount, affordability, how much, deposit, fees and costs budgeted for, applied for credit file, seek a decision in principle
• Offer accepted
• Mortgage recommended and application sent
• Mortgage underwritten — validation checks on property, income & expenditure. More information may be required as a result to satisfy lending requirements.
• Valuation instructed — mortgage or structural?
• Mortgage offer obtained
• Exchange of legal contracts – check that your required protection provisions are in place
• Completion of legal contracts — funds drawn down from lender

Get the keys!