Your Mortgage adviser has completed his advice and has now fully submitted your application to the lender
Your mortgage adviser will now pass your application to your dedicated case manager who will be your direct point of contact
Your case manager will contact you within 24 hours and request further documents the lender has requested once they have completed their initial assessment
Your case manager will upload everything to the lender and action any further requirements, updating you regularly
Once the lender is happy with your application and documents they will instruct a valuation of the property
The lender will receive the valuation report directly from the surveyor, once this is assessed and satisfied they will proceed to final checks
MORTGAGE OFFER IS PRODUCED - THIS IS SENT OUT TO YOU AND YOUR SOLICITOR
At this point we will request feedback and send out a trustpilot link for you review our service to date, as we have achieved everything we set out to do for you
Once your offer has been checked and you are happy with everything you will be handed to our completions team
They will regularly communicate with your Solicitor until your mortgage completes
Unfortunately no, every lender has a process they follow before they issue a full mortgage offer. They will need to verify your income alongside your bank statements and identify you, this is done from the documents we provide them with, and they also complete internal searches. Once they are satisfied with this, they proceed to complete a valuation of the property. Then proceed to full mortgage offer.
The lenders all have their own turnaround time, this means if they are running on a 4 day turnaround time they will assess your documents and application on day 4 following the upload of the documents. Your case manager will guide you on each update how long the lender timescales are. However your case manager pushes the lender for an update daily.
Unfortunately no, all lender requires wet ink signatures, they will accept the signed documents scanned as a PDF and generally they don’t require the originals.
Your case manager is an expert in processing your application through to offer, she will liaise with the lender on your behalf ensuring your application progresses to full mortgage offer in the fastest time possible. Your case manager may request additional documents from you, you will need to send these documents over immediately, if they are not received this will delay your mortgage offer. She will also update you regularly on the status of your application. Your case manager will ensure that all the normal stress of purchasing or remortgaging a property is taken away from you.
A valuation is carried out by a surveyor. This is instructed by the lender. It is to ensure the property is suitable for lending purposes and is worth the amount you are paying for the property. There is usually a fee for this, its payable on application and is paid to the lender directly. Once the valuation is carried out the fee is non-refundable
Your application fee is payable when your adviser submits your application and is non- refundable. Your Broker fee is earnt upon the receipt of your mortgage offer but is usually not taken until you complete. If you change your mind or don’t proceed once you have a mortgage offer, then your fee will still need to be paid to ams:
You will also need life insurance and building insurance in place ready for exchange of contracts and completion. Your adviser and case manager will discuss this with you and ensure you are fully protected once your mortgage completes
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