How the Mortgage Process works
Firstly, you need to be aware that it will take a several weeks from making your initial application to receiving your Letter of Offer. Therefore, give yourself plenty of time and start the process as early as possible.
- Contact DW Financial to arrange an appointment and Debbie will be more than happy to take you through the process.
- We can give you an indication of what mortgage amount you can hope to obtain based on your income and financial commitments.
- To proceed to an application all the necessary paperwork needs to be submitted. We can send you a checklist to advise what you need.
- Debbie will go through all your financial statements to ensure your accounts are mortgage ready and to clarify any transactions that need to be accounted for.
- We review all the lenders available to us and recommend the best options available based on salary, interest rates etc.
- The applications will be completed and all paperwork submitted to the chosen lender(s).
- Debbie will liaise with the lender to progress the application as quickly and smoothly as possible.
- The lender will review all paperwork submitted and request any additional documents they may require.
- Once the underwriters are happy with everything, they will issue their Approval in Principle.
- When you have selected your property the lender will request a valuation.
- When the valuation is received and approved the lender will then issue your Letter of Offer to your solicitor.
- At this point you are ready to meet your solicitor to sign contracts and pay the balance of your deposit. You would have paid your booking deposit when you selected your new home.
- You will need to put Mortgage Protection Insurance and Buildings Insurance in place to meet your lenders requirements. DW Financial can assist you to get the best cover and premiums to meet your needs.
- When your house is ready your solicitor will request the funds from the lender and transfer payment to the seller.
- Then the most important time of all, you get your keys.
At DW Financial we have access to a wide range of lenders and the best mortgage interest rates on the market. Whether you are an employee, self-employed or in contract work, we have the mortgage to suit you.
Get started on the road to owning your own home by contacting us on 045 899049. Alternatively, click the Contact Us page, send us a message and we will get back to you.