Step 1 - Initial Appointment with
Elite Mortgage Finance
– This is very important when purchasing a property
and before you even start looking for a property.
During this appointment you will discuss your
personal and financial requirements with one of our
experienced mortgage consultants. The appointment
will normally last between 25-60 minutes depending
on how many questions you have regarding mortgages
and will include information gathering in order to
provide you with the best advice. In most cases we
are able to discuss your mortgage requirements at a
time which suits you either over the telephone or
face to face.
Step 2 - Agreement In Principle
–This is done after your initial appointment with us
and is when a lender carries out a credit check to
confirm if they are able to provide the mortgage for
you and the maximum you are able to borrow. Elite
Mortgage Finance can apply for an agreement in
principle for you usually within 24 hours and in
most cases this can be done on the same day.
Advantages of obtaining an agreement in principle before you start looking for a property.
You will know your maximum budget and will be able to look for property within that price range.
This will help speed up the mortgage process.
You will be taken more seriously by all estate agents when arranging viewings.
You will know roughly what your mortgage payments will be so you will be able to budget.
If there are any issues with you obtaining a mortgage this will be discovered early on so we will be able to resolve this issue as opposed to finding your dream home and then being told that you are unable to buy it.
Step 3 – Find a property
– This part is
down to you. The best thing to do is to look at as
many properties as possible within your price
range. This will give you an idea of what your
money can buy.
You can try searching on the
internet on the following websites:
It is also good to register with all the Estate
Agents in the area that you are looking in as they
will inform you of new property for sale as soon as
they are available. Most of the best properties sell
before they even get put on the internet.
Step 4 – Make an offer
When you have found a property you
want to buy you can make an offer to the Estate
Agent. This does not need to be the asking price and
in some cases you may be able to offer up to 8% less
than the asking price and work your way up.
Step 5 – Offer has been accepted
– When your offer has been accepted you need to
apply for your mortgage. Contact us as soon as
possible and we will search the whole mortgage
market to find the best deal for your personal
circumstances. We use a state of the art sourcing
system which is updated twice a day to make sure
that you will be getting the best deal. We will
complete the application for you and chase the
lender to make sure you get the keys to your
property as soon as possible.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances, in most cases this can be waived but we estimate that it will be £250.