How to get a mortgage?

Hey Family!

We hope you have all had an amazing week, full of love, happiness, and opportunities.

This week we are going to tell you about how you can get a mortgage.

You’ve probably been on various sites and its just information after information, however, as you know we are here to make it easier for you in a way that you can understand fully, and not just saying “ohhhhh” when you don’t really have a clue.

So, let’s get to it.

How to get a Mortgage:

Firstly, before you even apply to get a mortgage, sit down, and think, how much money can I put towards the deposit? Most lenders will ask for a deposit of 5-15% of the property value. If you cannot meet the criteria, what you can do is you can apply for a loan with your trusted bank, and they will help you towards your deposit and any other further payments.

Use a mortgage calculator. By using one, you can find out how much you can borrow based on your income and your spending commitments, and how much a mortgage can could cost you each month and in total.

See if you can qualify for a mortgage by getting an Agreement in principle. Any agreements that you come across with your bank could tell you if they could lend the amount that you need, without it affecting your credit score. It takes about 15 minutes to complete one online, you aren’t always guaranteed that they will lend it to you, but it would save time at your mortgage appointment if you decided to apply.

Apply for a mortgage with your bank. This means booking an appointment to speak to one of their advisors to talk about your finance and circumstances.

You will need to respond to any requests that your bank sends you as they will need more details to inform you about any fees you might need to pay or if they will need to arrange access to the property for a valuation. Once everything is done accordingly, they will send you a mortgage offer that you will need to sign and return. You can also track your application progress online using the mortgage references they’ll give you.

Last and final step, they will send money to your solicitor. Your solicitor will let them know once you have a date to complete the property purchase, so they can arrange to send them the money you are borrowing.

We hope this has been useful for you, and if you want to know anything else let us know and we have always here to help.

Quote of the week:

“opportunities don’t come often. So when they do, you have to grab them.”

- Audrey Hepburn -

Lots of love,

TGL iEstates

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