Home Buyers Guide

Chapter 1: The 10 Steps to Buying Your First Home:

IIn addition to this, one of the results of the worldwide ‘credit crunch’ is that the banks and building societies are reviewing and changing their criteria on a constant basis, so the figures you’ll find on websites tend to become out of date very quickly.

How can I arrange mortgage approval in principle?

• Speak to a mortgage broker (or a selection of banks) or make an online enquiry
• They should be able to give you a good indication of what you can borrow, based on the information you give them
over the phone or information you submit online.
• They’ll send you an application form and a checklist of supporting documents which they’ll need to get formal
approval in place for you
• These documents will include bank and loan statements (showing a list of payments over the previous 12 months),
an original utility bill, passport or driving license, pay slips, an employment cert from your employer and a P60.
• You’ll get ‘approval in principle’, subject to finding a suitable property.

To arrange mortgage approval, call independent mortgage advisers Mortgages Direct on 1890 44 66 44 or fill in
an online enquiry

• When you successfully bid on a property, the mortgage advisor will arrange a mortgage valuation of the property and your 'letter of offer' with the property details etc is issued.
.
Now that you know how much you can borrow, you can start house hunting.

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