On this episode of the ReadytoBuy Podcast, we'll be looking into how to get the process started now that you have found your new home – starting with mortgage applications.

Time Stamps

PART ONE

00:00 – Introduction

01:38 – ‘New Home Found – Let’s Get the Process Started’ & Recap

02:26 – What is Next

03:16 – The Mortgage Application

• 04:04 – Repayment Mortgage
• 04:40 – Mortgage Term
• 06:33 – Type of Rate
• 06:51 – Fixed Rates
• 08:26 – Other Rates

09:11 – Starting the Mortgage Application

• 09:35 – Providing Property Details to Broker
• 10:10 – Documents
• 10:38 – Proof of Deposit
• 12:47 – Options Will Be Updated

INTERMISSION

13:35 – ‘Definitely Not A Silly Question’ Segment

14:04 – Question

14:14 – Answer

14:51 – Contact Info for Questions

15:17 – Risk Warning

PART TWO

15:55 – Proceeding with Mortgage Application

• 16:35 – Three Things Mortgage Lenders Look At
• 17:09 – Lenders Service Levels
• 17:36 – ‘Instructing’ a Survey

18:15 – The Valuation

• 18:15 – Charge and Purpose
• 19:01 – Types of Survey
• 20:28 – More Detailed Survey’s & Homebuyer Report

22:48 – The Mortgage Offer

24:49 – Summary

25:49 – Conclusion

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Notes

(00:00 – 01:37) Introduction

Introducing the podcast and providing details for listeners on where to contact.

Website: mhcmortgages.co.uk

(01:38 – 02:25) Recap

• You’ve put your plan in place – so understand how much you can borrow, how much you need to save, your deposit (savings or gift from family), where you’re looking to buy and what type of property.
• You’ll have taken steps to get yourself as presentable as possible.
• You’ll have your Agreement-in-Principle.
• You’ll have prepared for your viewings and we talked to Andy at Robinson, Michael & Jackson Estate Agents last time, with some hints and tips to consider.

(02:26 – 13:34) What Next

Two main parts to the process:

• Organising your mortgage
• The Legal Work / Conveyancing (We’ll discuss this in detail during