Speak to a Qualified Mortgage Adviser
‘Henderson Mortgage Solutions Ltd’ through its knowledge of different lenders underwriting criteria can help calculate what size mortgage you may be able to afford, taking into account your income outgoings and the requirements of different lenders.
Let us guide you through the whole process. Face to face or telephone appointments are available.
Get an Agreement in Principle with a lender
We use our knowledge of lending criteria with Banks to advise you which one to approach. We can then request an ‘approval in principle’ , which if issued means that the lender is prepared to consider your application up to a stated amount based on the information submitted to them. This can strengthen your position when dealing with the estate agent selling the house you are interested in buying.
Evidence of identity and affordability will be required at this point.
Register with Estate Agents
Don’t rely on internet searches to find the best properties. Get registered with agents in your area as they know about new properties coming to the market before they have been advertised on the web – Any good agent will be able to match your criteria to the new properties coming to the market and will call you to arrange a viewing.
Find the right house
Once your offer has been accepted speak to us again so we can get the application for your new mortgage in place. At this point we will re review the most suitable deals for your requirements as they may have changed since we applied for the agreement in principle. The deals on our mortgage sourcing facility are updated daily so you will have the latest options available.
We will submit the application on your behalf and advise you of any documents required by the lender to support your application, such as:
- 3 months’ pay slips (employed) – 3 years SA302’s or accounts (self-employed)
- Evidence of any additional income such as pension or tax credits/child benefit/maintenance
- 3 months’ bank statements
- Proof of Identity
- Proof of residency
You will then need to pay any valuation/survey fees to the lender for the survey to be instructed. We can advise you of the survey options available and costs involved.
(Instructing the valuation/survey shows the vendor of the property and estate agent you are fully committed)
Arrange Insurance – We will discuss with you the relevant protection/insurance policies you may need. We can discuss the benefits of different plans and policies, provide quotes and arrange the applications to relevant insurers.
This must be in place prior to exchange of contracts. We can email this confirmation direct to your solicitors if arranged with Henderson Mortgage Solutions to help minimise delays at the crucial time.
Instruct a solicitor
You will need to instruct a Solicitor/licenced conveyancer to act on the purchase (and sale if you are also selling). We can help advise you of local contacts if you want face to face discussions or online conveyancers if prefer to deal with this via email/phone/post
(fees applicable to the Solicitor/conveyancer for searches etc.).
Once the valuation/survey is back and the lender is happy, final checks will be made by the lender and once satisfied they will then issue you a formal mortgage offer. (both you and your Solicitor/conveyancer will receive a copy of this as well as us).
Our in-house Completions Manager Kate will liaise with you, your lender, solicitor and estate agent to help guide the process through to mortgage offer and subsequent exchange and completion. We are acting for you and on your side whereas the estate agent you are buying from is acting for the vendor.
Exchange of contracts will take place when your solicitor is happy with all the documentation including searches and when completion dates have been set by all involved. Your deposit will be required by your solicitor at this point.
On Completion, funds will be released to your Solicitor and your Estate Agent will inform you that the Keys can be collected.
Henderson Mortgage Solutions Ltd will store the details of your new mortgage and contact you 3 months before expiry of the deal in order to discuss whether you should stay with your current lender and select a new product or switch to another lender who is perhaps offering a better deal to new customers.