Think carefully before securing other debts against your home.  
Your home may be repossessed if you do not keep up repayments on your mortgage

Ready to buy?

The house buying process in England can be a long and anxious wait.  Different rules apply in places such as Scotland. So it will be inaccurate to describe the house buying process in the United Kingdom under one section.  Remember until Exchange of Contracts, both the vendor or purchaser can withdraw without reason and without any liability for costs.

Due to mortgage regulations introduced in 2014, lenders will lend strictly based on their criteria and all underwriting is undertaken centrally.  So if you have been with your bank for 30yrs and the branch manager is a godparent to your children, that now has little relevance.  So rather than you visiting various lenders to see what is available and perhaps negatively impacting your credit file in the process,  as we have access to both high street and non-high street lenders (and some non-high lenders do offer very good products at good rates),  we often know what direction we may need to take.  For example someone earning £80,000pa may be offered a mortgage ranging from £320,000 to £439,000 depending on the lender.  A huge variance.  We will not commit to you any lender until we know what is what – and that is only after your purchase offer has been accepted.

Click here to contact us or feel free to read on

Step 1.  Speak to a qualified mortgage adviser at Max Mortgages to determine your realistic budget.  Don’t leave it until you have an offer accepted.  Start gathering your documentation and provide ALL relevant information.  Holding back or omitting information can have a serious impact on whether we can find a suitable solution.  Advisable to obtain your own credit report from Equifax or Experian to see what information is held about you and if its accurate

Step 2.  Find a suitable property within that budget.  Speak to us about that specific property and price to ensure it fits. There may have been legislation or criteria changes.  Is it freehold or leasehold purchase? Difference? click here

Step 3.  Make and have an Offer accepted. Although both parties have the intention to create a legally binding contract, this however in the case of property law is not enforceable unless it is in writing

Step 4.  Begin the mortgage application process with us within 24-48hours of offer acceptance as vendors get anxious without progress.  Hence the importance of having had an ongoing dialogue with us so we can prep your file quickly and submit to the most appropriate lender.  We will select the most appropriate lender/product based on the actual property chosen and the figures in play.  It is only now during the application process will credit checks be undertaken

Step 5.  Instruct your solicitor or conveyancer to act on your behalf.  What is their role? – click here

Step 6. If the lender’s valuer highlights any issues, discuss the matter with the selling agent and/or vendor.  Decide if you wish to continue or renegotiate or walk away! Types of surveys? – click here

Step 7.  If good title is advised and you are happy with all other aspects, proceed to exchange and lock in the vendor.  Ensure suitable buildings insurance and personal cover is in place

Step 8.  Completion. Collect keys and enjoy.  And don’t forget the removal people!

Step 9.  Post Completion. Ensure your mortgage is always at the best possible rate. Don’t get complacent with your money.  Stay in touch with us as we are here to look after you over the longer term

We have simplified the steps, but no purchase is ever identical and we are here to help.  As your mortgage advisors, we will help you through the various stages.

Ready to take the next step? Click Here