- Tue 10 Oct 2023
Step-by-step to getting a mortgage/house (basic start to finish):
1.First step, work out the finances. You need to know what purchase price range you can look in, as well as know what the mortgage costs will be monthly to ensure it is also affordable. We cover all this in our first appointment and aim to get you in a position you can offer on a property. All we need is 30-60 minutes of your time and some paperwork. We will then get you an agreement in principle. An agreement in principle is a lenders provisional acceptance that they will lend you a sum of money. This plus your deposit shows you how much you could purchase for.
2. Once you have your agreement in principle you can begin viewing properties. After you have found the one for you, you can make an offer to the estate agent. This can be through any estate agent, and we can still sort your mortgage for you, it does not have to be Bradleys property.
3. When your offer has been formally agreed we will then arrange a time to go through the full mortgage details and get the application submitted. Which is where the lender will want all the paperwork to underwrite the application as well as instruct a valuation. Once the whole application has been approved the lender will produce the mortgage offer. This usually can take 2-4 weeks unless any issues arise.
4. At the same time, you will also need to instruct a solicitor to deal with the legal work for the purchase. They will request any necessary searches and raise the enquiries to the seller. This process can take anything from 3-5 months.
5. Once everything has been completed and agreed you will then negotiate an exchange and completion date where you can get the keys to your new home.
Bradleys Financial Management Ltd and Bradleys Estate Agents Ltd are two different entities and the estate agents act as introducers for Bradleys Financial Management.