Contractor Mortgage

dranzer01

I have got two mortgage brokers who said that there is a lender , based on my credit file and day rate contract who would lend to me. 

One of them asked me if I have a property in mind. (I currently don't).

Is it not possible to obtain a mortgage (everything is signed off and then still carry on looking on the market for a property? Or do you need to have your heart set on one and THEN apply for said mortgage?)

(I ask this question as I am in a plight as to where I actually want to set up shop for the next 3-10 years on average)

K_S

@dranzer01 Unfortunately not. The best you can do at the viewing stage is get a DIP/AIP.

For a firm mortgage offer, you need to put in a full application which will require a property address, property details, contact details for the valuation (usually the Estate Agent), solicitor details, etc. As you can see, you'll need to have an offer accepted on a property before you can put in a full application.