Mortgage Process

z1234_2

Hi

Just some clarification

am i right in thinking the below

the lenders will first check if you are valid for the mortgage and then survey the house you are wanting to buy???

or theres not actually an order for what they check first, validity of mortgage or house valuation??

Thanks

dimbo61

You need to do your research and decide which type of mortgage will suit your needs!!!
how much deposit do you have ? Hopefully at least 10% and better still 25%
You will have to sit down with the mortgage SALESPERSON !!! in the bank/building society and he/she will give you advice about how much they are prepared to lend you. ( ie 4X income ) they will also try and sell you life assurance and other products.
Once you know how much money you have to buy a property THEN you can go out and look for a new home.
Surveys come after your offer has been accepted

TBeckett100

or to answer the question, get your agreement in principle, then you apply. once you apply they will check your application, request payslips, bank statements etc and then instuct the valuer. Post office mortgages are quite good, done mostly oline and they lend 4.5x