At what point do I approach a broker?

Red-Squirrel_2

Is it when I get an offer on my own property? When I'm ready to offer on something? As soon as I'm looking to buy so I know if it's possible?

I've seen a place I like, I'll be spending the next week or two getting my place ready to sell then putting it on the market, I have a 40% deposit in equity but also some complications including non-guaranteed overtime, credit card debt, too many recent searches, frivolous items in recent bank statements etc.

I have a broker in mind, when would they want to hear from me do you think? I've always gone direct before so no idea about the broker process!

amnblog

They would like to hear from you before you have left it too late and caused a problem.


Phone them up and ask them.

ACG

Give them a shout now and book something in.

I tend to prefer that, than getting a phone call to say my offer was accepted this afternoon can we meet up - as I then have to drop everything and it becomes a bit of a rush job.

Red-Squirrel_2

Thanks ACG, that's really helpful. So you'd prefer to get started earlier before anything's set in stone, even before current property up for sale?

I suppose it never hurts to be prepared!

ACG

There is no harm looking over the credit report(s) and completing a factfind and having an idea of who will lend to you if there are some things that will knock lenders out... and ensuring you pass affordability with them.

On top of that, additional documents may be needed. So by crossing that bridge now (if it is something that can be pre-empted) it avoids delays wen you do come to apply.

Fail to prepare as they say.

Malmo

I would agree with the above. We are looking to enter the selling & buying process imminently and the first step we took was to identify & engage several local brokers, enabling us to establish a working relationship with the chosen broker, based on our discussions. The broker has our fact find document and copies of our key documents including all 3 credit reports. This is before we have invited agents to value our existing home. After our initial face to face meeting, we are now in email contact and my broker has responded swiftly to a couple of minor queries I had. They are primed and basically waiting for us to start our search, when we'll need the AIP/DIP.