We would always recommend that before you start looking at properties you find out exactly what mortgage you can obtain and that it is affordable within your budget.

This process is carried out by using our knowledge of the market place and sometimes carrying out a formal agreement in principle with one of the lenders. The agreement would be subject to status and underwriting and is not a guarantee of a mortgage offer.

Once you know exactly what mortgage you can obtain and what personal funds you have available for your deposit and fees you can start looking at properties within your price range.

When you have found a suitable property, you will usually make an offer to purchase the property through an Estate Agent and once we know that your offer has been accepted we can get the mortgage application underway.

Most lenders now operate online so they receive the case the same day that we send it. The first steps that are carried out are the underwriting of the case (the formal agreement of the application, this is usually just a formality if an agreement or decision in principle has already been carried out) and they will instruct the valuer to carry out the survey on the property. At this stage the lender will also apply for any other documentation required eg a reference from an employer, although the majority of lenders accept payslips or P60 to prove income.

Once the valuation has been received back and the lender has received any paperwork required they will issue a formal mortgage offer and this will reflect the information previously provided in the Key Facts Illustration for the mortgage product.

A copy of this offer will be sent to you, us and your solicitor.

Bank of England Base Rate is 0.5% (last updated 10/02/11)- next update due 10/03/11

Thank you so much for all your help with the new flat! You saved the day!

Mrs C - Earlsfield

Read more testimonials of what our clients have to say

24th October 2019

d g s mortgage solutions ltd
84 Balham High Road
SW12 9AG

Tel: 0845 3626206
Fax: 0845 3626208