Making Your Mortgage Application
Lawrence Copeland, a chartered surveyor and estate agent with over thirty-eight years of experience in the field of property sales, continues his playlist for first-time buyers. In this video, he guides you through how to make a mortgage application
If, like most first-time buyers, you are financing your purchase with a potential mortgage, then now is the time that you need to revisit an independent financial advisor, and fill in a mortgage application. This will require giving detailed information on the property in question, and may have specific questions about its history, such as its age, and whether or not it has ever been underpinned. There may be fees to pay at this point re. the application process.
Once your independent financial advisor has submitted the application to your potential lender, the lender will probably have more checks of their own, such as credit references etc.
Once that’s done, a surveyor will be instructed to carry out a survey to determine the property’s potential worth, and any issues that it may present.