Transitioning Homeowners

Service Description

Enjoy a Smoother Home Buying Experience! Finding a new home doesn’t have to be overwhelming. Whether you're expanding your family, relocating, or seeking your dream home, we’ve got you covered. Follow our 10-Step Guide for a stress-free journey, and let Mortgages Approved handle everything in one place for you. Key Considerations When Moving Home Understand Your Financial Position: Before you move, it’s crucial to know: - Your borrowing capacity - Monthly repayment costs Also, factor in additional expenses: - Estate agent fees - Solicitor fees and stamp duty - Any early repayment charges from your current lender - Whether transferring your mortgage (porting) might be more advantageous than securing a new loan Mortgages Approved is here to assist you with all these details and streamline the entire process. 10 Steps to Moving Home 1. Consult an Advisor: We’ll evaluate your needs and find the perfect mortgage for you. 2. Get Protection: Essential coverage for death, critical illness, or income loss. 3. Valuation: The lender assesses the property's value; consider a detailed survey for extra peace of mind. 4. Exchange Contracts: Legally commit to buying the property. 5. Decision in Principle: Submit basic details to the lender to check if you meet their criteria; receive a Key Facts Illustration. 6. Receive an Offer: Once the valuation is approved, the lender provides a formal offer with interest rates and conditions. 7. Make Payment: Pay the deposit, land registry fees, and stamp duty; your solicitor finalises mortgage arrangements. 8. Submit Application & Credit Checks: Complete your mortgage application and undergo necessary searches and credit checks. 9. Complete Legal Work: Your solicitor handles the final legalities and sets a completion date. 10. Enjoy Completion: Funds are transferred, the purchase is finalised, and you get your new keys! Your home may be repossessed if you do not keep up repayments on your mortgage.