First Time Buyer - Advice Please

sheffieldsaddler

Hi
In February I will be applying for a mortgage, via a broker I believe is a good idea.
I just wondered how the process worked in regards credit checking.
i.e Is it done when your broker finds you a product by the company the product is with? Or is it done once your offer as been accepted on the house?
I have a few outstanding debts that I want to pay off before I apply, hence why I want to know the above!
Thanks!

woody252506

I believe it will be done by the company who will ultimately lend you the money.

They will do an initial check and, if you pass, they will give you a mortgage in principal certificate that you can show when you start bidding on a house you want. Once your bid is accepted they will then do a more detailed check on you to make sure you are capable of repaying the money