A Guide To Mortgages
Guide – [ɡʌɪd]
- A person who shows the way to others, especially one employed to show tourists around places of interest.
- A thing that helps someone to form an opinion or make a decision or calculation.
- A book, document, or display providing information on a subject or about a place.
To decide how you are going to purchase your desired property, your first point of call would be to sit down with us to discuss how much you can borrow. This will vary from lender to lender but generally it is 4 times your income or 2.75 times your income for a joint application. If yor income is more bonus based, these can also be taken into account but will be assessed differently by individual lenders.
Most lenders are flexible and can look at each application individually and take personal circumstances into consideration. The main factor is for the chosen lender to be happy with the application and feel comfortable that you will be paying back the loan over the term you select.
During this initial discussion with us, you will decide on the amount of flexibility you would like as well as various rate and repayment options. Only once you are completely happy with your choices do we start to look for the most competitive deals on the market.
The application process
After your initial discussion The Mortgage Selection Bureau would look to obtain a AIP (Agreement in Principle) from your chosen lender. This will give an instant decision based upon the initial information provided and list any additional items required for a full application.
Making an offer and formal application
You are now in a position to make an offer on the property of your choice, comfortable the finance has already been agreed
Once this offer has been accepted, The Mortgage Selection Bureau will submit a full application. We can also advise and help you decide on how detailed you want your valuation to be. At this stage, you will need to instruct a solicitor to act on your behalf.
If you’re ready to get started:
You can get the ball rolling by following one of the routes listed below:
Make an online enquiry
We are here to get your process started, all you need to do is complete this online enquiry.
Email us your questions
Still have questions? No need to worry, send them over and we will get back to you with the answers.
Call us directly
Still need to talk things through? Then call us direct and we can talk though your questions.
Quilter Financial Services Limited and Quilter Mortgage Planning Limited is entered on the FCA register (http://www.fca.org.uk/register) under reference 440703 and 440718’.
Registered as a Limited Company in England & Wales No.04318409
Registered Address: Apple Tree Cottage, 5 Churchfields Road, Bromsgrove, Worcestershire. B61 8EB