We will guide you through the the whole process, step by step.
Let's have a chat, get to know each other and begin your journey of becoming a home owner.
We will discuss your personal and financial situation, so we can fully understand your needs and priorities for both now and the future. You can register and get started now on our Client Portal.
This is a key part of the process as will form the basis of the recommendation we provide you.
Now we know all about you, we will complete the research into finding you the most appropriate lender and product from the whole of the market.
We will complete lender affordability and policy checks, to provide you the maximum borrowing amount available, which will give you the foundation to start looking for your first home.
This is a short meeting so we can fully explain our findings, sharing all the information you need to know, such as the available borrowing amount, interest rates, fees and monthly payments.
We will provide you with a personalised illustration and recommendation, based on your individual requirements and preferences.
We will provide you a list of documents which will be required to proceed and obtain an Agreement in Principle.
Once you've sent us your documents, we will work on obtaining your personalised Agreement in Principle.
An Agreement in Principle is a certificate confirming that the recommended lender is willing to offer you a mortgage and for how much.
Whilst obtaining this for you, we will complete document, identity and credit checks ensuring the validity of your Agreement In Principle.
Most estate agents will require sight of the Agreement in Principle before you start viewing properties, so we will email this to you, so you have it on hand.
You now know how much you can borrow and how much your payments will be, so the fun bit starts, you can start viewing properties.
Once you have found the property for you and your offer has been accepted, it's time to instruct your solicitor and start your mortgage application.
Now you've had your offer accepted on the property you wish to purchase, we can start your applications for your mortgage and associated insurances.
Once your application has been submitted, the lender will complete the underwriting process and will instruct a mortgage valuation to take place.
This step typically takes 2-3 weeks, depending on current lender and surveyor timescales.
Great news, you've got your official Mortgage Offer.
This will detail all of the terms and conditions of the mortgage and will be sent to you and your solicitor, meaning they can start the searches on the property.
Once your solicitor receives their copy of your mortgage offer, they will start obtaining the property searches, these normally include:
These searches typically take 2-3 weeks to complete.
The results of the searches may require your solicitor to make further enquiries, we will stay in contact with your solicitor to support these being addressed in a timely manner.
By now your solicitor has completed and satisfied all required lender requirements and you are happy with the property specific information that they have shared with you.
You have your recommended mortgage protection and Building and Contents insurance in place and you are ready to exchange contracts with the vendor.
At this point you would have agreed a completion date and be ready to move.
Congratulations, you are now property owners.
On the day of completion, your mortgage will start and the funds will be transferred to the vendor, so you can receive the keys for your new home.
You will receive a letter from the lender within 10 days, confirming the date and amount of your first payment.
We wish you many years of happiness in your new home and look forward to speaking with you again once your mortgage rate has expired or you are ready to move homes.
We typically charge a fee of £395 for our service, which is payable upon your mortgage being offered.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Luke Fernandez Mortgages is an Appointed representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Your home may be repossessed if you do not keep up with your repayments on your mortgage.
Registered Company Number: 13537486
Registered Address: 70 Frimley Grove Gardens, Frimley, Camberley GU16 7JY.
FCA Registered: reference number: 959731
Copyright © 2022 Luke Fernandez Mortgages - All Rights Reserved
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