{"id":9205,"date":"2019-11-08T09:32:26","date_gmt":"2019-11-08T09:32:26","guid":{"rendered":"https:\/\/www.impactsf.co.uk\/?p=9205"},"modified":"2019-11-08T09:32:26","modified_gmt":"2019-11-08T09:32:26","slug":"your-mortgage-broker","status":"publish","type":"post","link":"https:\/\/www.impactsf.co.uk\/index.php\/2019\/11\/08\/your-mortgage-broker\/","title":{"rendered":"Your mortgage broker should ‘get to know you’…"},"content":{"rendered":"

Arranging a mortgage can take time.\u00a0 But actually, the process, regardless of whether you are a first time buyer, home mover or simply re-mortgaging, will be roughly the same.\u00a0 On any new purchase, the selling agent will seek to agree a number of deadlines with you, including the arrangement of mortgage finance. At this point you can shop around and should make sure that you speak to an independent mortgage brokerage who will assess your overall financial position and discuss your mortgage requirements with you. \u00a0Advisers are required to provide you with an Initial Disclosure Document detailing who they are; who regulates them; their scope of permissions; whether they are restricted to a small lender panel or \u2018whole of market\u2019; any fees and costs involved including any charged for advice or consultation.<\/p>\n

\"estateA good advisor will complete a financial fact find ensuring that they fully \u2018know and understand their client\u2019s financial position and requirements.\u2019\u00a0\u00a0This is necessary before any \u2018advice or recommendation\u2019 can be provided.\u00a0\u00a0Be patient as this process can be lengthy.\u00a0\u00a0It is in your best interests however, ensuring that you receive the best possible advice designed to meet your personal mortgage needs and requirements.\u00a0Once you\u2019ve agreed the best mortgage for you, a decision in principle (DIP) will be completed, usually online with the chosen lender. This involves brief personal details, income disclosure and a credit search. Be wary here as too many credit searches will have a negative effect on your credit score.<\/p>\n

DIP decisions are normally instantaneous.\u00a0\u00a0Assuming success, it is then up-graded to a full application. Payment for survey is made (sometimes free) and the valuer confirms to the lender if, in their opinion, the property is suitable security for mortgage purposes. A more detailed in-depth survey (homebuyers report) can be arranged at the same time, but for a slightly higher cost. That said, for older properties it should be considered a worthwhile investment as it could save you thousands in the long run.<\/p>\n

The chosen lender will require information on income, identity, proof of residency as part of their due diligence requirements.\u00a0\u00a0Assuming no issues arise, a mortgage offer should be issued. Then, subject to the solicitor\u2019s conveyancing process, you are now on the road to completing your mortgage process.<\/p>\n","protected":false},"excerpt":{"rendered":"

Arranging a mortgage can take time.\u00a0 But actually, the process, regardless of whether you are a first time buyer, home mover or simply re-mortgaging, will be roughly the same.\u00a0 On any new purchase, the selling agent will seek to agree a number of deadlines with you, including the arrangement of mortgage finance. At this point […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"slim_seo":{"title":"Your mortgage broker should 'get to know you'... - Impact Specialist Finance","description":"Arranging a mortgage can take time.\u00a0 But actually, the process, regardless of whether you are a first time buyer, home mover or simply re-mortgaging, will be ro"},"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9205"}],"collection":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=9205"}],"version-history":[{"count":0,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=9205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=9205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=9205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}