Mortgage Navigators

Your Guide to the Mortgage Process

Remember... It is never too early to start the conversation!

1. Pre-Qualification

This is the first step in the mortgage process where you speak with a mortgage broker to assess how much you can borrow and what deposit you require. We will also advise on the best lender for your application and discuss what financial supports are available and what is needed to apply.

2. Approval In Principal (AIP)

Once we have assessed how much you can borrow, you can get an AIP from the lender. This is a document that confirms that you can borrow the required amount and is valid for 12 months. It is a good idea to get an AIP before you start looking for a house.

3. Property Search

This is the part of the process where you start looking for your dream home. You should arrange meetings with auctioneers to identify properties within your budget and identify the location that you would like to live in.

4. Full Letter of Offer

Once you have found your dream home, speak with your mortgage advisor and we will organise your Full Letter of Offer from the bank of your choice.

5. Solicitor

It is important to arrange a solicitor to act on your behalf. They will handle the legal aspects of buying a property, such as carrying out property searches, drawing up contracts, and transferring funds.

6. Property Survey and Valuation

A surveyor Engineer will inspect the property to identify any issues that need to be addressed, and a valuation will be carried out to ensure that the property is worth the amount being borrowed.

7.Deposit

You will need to pay a deposit, which is typically 10% of the purchase price of the property.

8. Insurance

You will need to arrange home insurance to protect your property and mortgage protection to ensure that your mortgage is paid off in the event of your death. (All Arranged in house for you)

9. Completion

Once all of the above steps have been completed, you can get your keys and celebrate. Congratulations, you are now a homeowner!