Found the property

Once you have found the property you want to buy the next stage is to make an offer. Once your offer is accepted Mortgage Advice Shop complete a mortgage application and submit to the lender. The lender will undertake credit searches and once this has been approved will instruct a valuation/survey.

There are different types of surveys/valuations:

a. Basic valuation

b. Home buyers report

c. Full Structural survey

Instruct a solicitor

Instruct a solicitor who will undertake all the legal work required in the house buying process. We would recommend that you get a quote from solicitors before committing to them. Your solicitor will act on your behalf in the house buying process. They will investigate the legal aspects of the property such as the property boundaries, planning permission, sewage etc and carry out the relevant searches.

Mortgage offer

Once the credit checks, valuation/survey and all relevant paperwork has been produced to the lender and they are happy with the outcome they will then issue a mortgage offer. This offer will advise you the term of loan, rate applied for, monthly payments, early repayment charges if any and if any fees are payable or added to the loan. Your solicitor & ourselves will receive a copy of the offer. Mortgage Advice Shop will check that mortgage offer is correct. A mortgage offer will normally be valid for 3 to 6 months depending on the lender.