Are you buying for the first time and you don’t know where to start?
What to expect from our Team?
✔ Preparing the client for the transaction
✔ Guided through the entire credit application process
✔ We compare offers from the entire market for you
✔ You do not have to go to the bank – we take care of all the formalities for you
✔ You save time and as we know time is money!!!
Where to start?
Before we start looking for our dream property, we should think about solid preparation for the transaction. This is not only because at the beginning of the transaction we will incur some costs, but we must also remember that we invest our valuable time, often devoting time off from work to search for a new property
Make sure you are registered on the electoral rolls – (Voters Roll)
this element, often ignored, is extremely important and can have a significant impact on the initial decision of the bank. Entry on the electoral lists to some extent identifies us with the current address, which at a later stage will help credit reference agencies in building the history of our residence in the UK.
If you are not yet registered, you can do it on the website www.aboutmyvote.co.uk where after filling out a short form you will be able to print the application and send it to your local office (Local City Council).
Checking our credit history
If we have ever had problems with settling out debts, it will be worth checking our credit history. Mortgage providers are guided not only by the amount of our income when assessing your affordability but also by your credit scores. The scoring system provides for a range of scales from 0-999 points where 999 is the best possible result. The result may be affected by the absence of presence on voting lists, the history of our loans, credit cards and the regularity of payment of our credit obligations.
OUR RECOMMENDATION *client have a choice as to which Credit Reference agency that they want use.
Check out your report today – visit www.checkmyfile.com and get free access for the first 30 days.
If you are not sure about your credit report or have any problem with your own credit history, please contact us on 02380 982433
Meeting with a financial advisor.
Our initial considerations should start with a meeting with a mortgage advisor. It’s great to be well prepared for the meeting.
Basic information that an advisor will need for the initial analysis:
Proof of income
For employees, these will usually be payslips from the last three months and P60.
From self-employed applicants – Tax calculation (SA302) and Tax Overview of two (or when available 3 latest years)
For a director of Limited Companies – full set of accounts from the last two years.
Credit Report – You can immediately check your history by going on www.checkmyfile.com website. Get your free access for the first 30 days.
The advisor may also ask at a later stage to provide:
✔ Bank statements for the last 3 months
✔ Contract from the employer and P60
✔ Confirmation of deposit in the form of bank statements from 3 to 6 months
✔ Share code – confirmation of Settled/ pre-settled status if not a UK national
✔ Passports or identity cards
A qualified financial advisor will be able to check your affordability by contacting the bank to obtain Agreement in Principle. After getting your decision in principle from a lender, you will know exactly what sort of mortgage you can expect (subject to full application at the later stage) Agreement in Principle is not yet the final consent to receive a loan, but it is a very good indication that our credit profile corresponds with the lenders attitude to risk. With such a certificate, valid from 30 to 90 days, we can start our property search and place an offer to the estate agents
Where to look for a property?
Most people start their search on line
The most popular portals are:
Real Estate Agents
An important stage of the search may be a visit to your local estate agency office. You will have the opportunity to talk to the agent face to face and explain your requirements in detail.
Tours around the area we are interested in.
It is worth mentioning that most of the houses offered for sale will be marked with an appropriate advertising board. Regular trips around the area we are interested in should minimize the risk associated with missing a position on the Internet, and at the same time help us get to know the area.