How to get a mortgage - Step Nine

Required Reading


  


How to get a mortgage - Step Nine


Completion -the day's arrived. Your solicitor will arrange the mortgage side of the transaction, you collect the keys and move in. A large pot of tea or a glass of Champagne (according to preference) should be taken at this point.

Not every transaction, of course, proceeds as smoothly as this. Chains can break, buyers can gazump, sellers can change their minds, surveyors or valuers can come back with such tales of gloom and foreboding that either the building society will refuse to lend or you will refuse to buy.

And worst of all, perhaps, is the situation where everything appears to be going well -but your building society refuses to give you a mortgage (or tells you to come back in three months because they're short of funds). What do you do then?


See:10 deposit mortgages

How to get a mortgage - Step Eight


If the society is happy with the valuer's report, then at this stage it will (assuming it has funds available) make a firm written offer of the amount it is prepared to lend you, and you're off down the home straight.

This is actually a nail-biting time for the house-buyer. If he's human, he's probably clocking up the fees he's going to have to pay to his solicitor by constantly 'phoning up to see how things are progressing to hear gnomic utterances like 'I am still waiting for the searches.

' If you are a first-time buyer, at least you won't be part of a chain yourself, but your seller probably is.

Since the name of the game is simultaneous exchange of contracts and completion, . . .... see: How to get a mortgage - Step Eight


Current Mortgage Offers

  • At Commercialise Yourself you can compare mortgages using our repayment calculator, look for special offers for first time buyers or for 95% loan to value mortgages and see the most popular choices, Nationwide, Accord etc, we now even have a buy to let section for the brave or heart or strong of pocket! You can send us an email if you want to know more about mortgages and what we do and we will get back to you as soon as we are able. offers@commercialise.org.uk

     

    Finding the right mortgage can be stressful, but we’re here to help you every step of the way.

    Even if you have no proof of income, poor credit rating or facing repossession of your home, we can normally say YES (even if the high street lenders have said NO)!

    Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. The overall cost for comparison is 7.9% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but our average fee is 2.36% of the loan value. We are authorised and regulated by the Financial Services Authority for regulated mortgage and non-investment insurance contracts.