What is the mortgage process?

Once you have a mortgage in principle and you’re ready to apply for your mortgage in full, you’ll need to take the steps below:

Get your documents ready, including your ID (such as a passport or driving license), your proof of address (such as a utility bill), proof of income (at least three months’ payslips and your P60), and proof of deposit. If you’re self-employed, you will usually need the last two to three years’ worth of accounts. Sending a credit report is also useful to help the mortgage broker collate the right credit information such as check my file who search three credit bureaus – https://www.checkmyfile.com/?ref=bettermortgage&cbap=1**
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• Complete your mortgage application. You will need to give your lender details of the property you want to buy, including the price you’ve agreed to pay.
• Appoint a solicitor to draw up the contracts and handle searches.
• Get a home survey. This needs to be carried out on the property you’re buying to check its value and condition. You can choose whether you want a more basic condition report, a more comprehensive homebuyer report or a full structural survey to give more detailed information about the property’s condition.
• Exchange contracts. Once your mortgage is approved and you’re ready to make your purchase, your solicitor will exchange contracts of the sale with the seller’s solicitor.
• The next step is completion. This is the date the money is transferred to the seller and you legally own your new home and can move in.