As soon as you're thinking about buying a new home, call us to find out what we can offer. We're happy to provide advice and recommendations to assist you with your financial decisions.
We will ask a range of questions to assess your needs and where appropriate recommend a suitable repayment method, a comfortable loan level and a suitable mortgage product.
We will then give you a 'European Standardised Information Sheet' to show you the repayment levels you could expect based on your preferred product and repayment method. If you are moving home we will also provide a Mortgage Certificate which you can use when you are house hunting to confirm the availability of your mortgage funds.
Once you have found a property we can finalise your Mortgage Application. At this point the Society will undertake a credit reference search to confirm your address and credit history. We may require information from you, such as utility bills.
To process your application we may also undertake the following enquiries:
• Your employer's confirmation of your income
• Landlord's reference(s)
• Lender's reference
• Accountant's reference (for the self-employed).
Note: When you sign the Mortgage Application Form you will be authorising the Society to carry out the above enquiries.
The Society's Valuer will be asked to visit the property to carry out a valuation. When we have received satisfactory references and a valuation we will send you a Mortgage Offer for you to check and sign. This document states the terms of your loan. Your chosen Solicitor will also receive a copy of the Mortgage Offer and will now be able to advise you when you will be able to exchange contracts. When contracts are exchanged, you are legally committed to the purchase, so you should ensure that your Buildings Insurance and any Life Assurance is in force.
If you are happy to proceed, we ask you to return the second signed copy of the Mortgage Offer.
When your Solicitor has completed the legal work, he will let us know when to release your mortgage funds. (This date is known as your Mortgage Completion date.)
When the mortgage is completed there will be a payment for the period from the date of completion to the end of the month. This payment cannot be collected by Direct Debit.
Shortly after completion you will receive a letter from us confirming the payments we will require.
Throughout the process and beyond, you will always have a named contact to answer any questions you may have and explain to you anything which is unclear.