If you are moving house and require a mortgage, it is important that you obtain sound professional advice and that is exactly what you will get from Seaway Mortgages. Information and advice you can trust.
Your Existing Mortgage – If you already have a mortgage now is the time to dig out your original mortgage offer and latest mortgage statement. From these documents we will be able to identify:
- How much mortgage debt is outstanding.
- What interest rate you are being charged.
- When your existing deal matures.
- If there are any early repayment charges.
- If the current mortgage is portable, i.e. can it be transferred to another property.
If you don’t have a mortgage then we need to start at the beginning.
When a decision has made on the best mortgage to suit your needs we can then apply to get a Mortgage Agreement in Principle – Having a mortgage agreed in principle means that you know that a lender is likely to lend you the amount you wish to borrow before you find the property you wish to buy. This puts you in a strong position when making an offer.
When your offer is accepted we the need to complete the application form and apply for the mortgage.
Solicitors – You will need to employ a Solicitor who will apply for local authority and environmental searches as well as check various legal documents relating to the ownership of the property. Their role is to ensure that you obtain a good legal title to your property and that there are no issues that could adversely affect the property and its value. If you would like help with finding a suitable solicitor then we can recommend solicitors with a good track record of service and competitive pricing.
Completion – When contracts are exchanged, a date is set for completion. On the day of completion, the balance of the purchase price is paid to the seller’s solicitor and you collect the keys to your new home.
Success – Now you can start planning your house warming party.
Capital & Interest or Interest Only Mortgage ?
Your home may be repossessed if you do not keep up repayments on your mortgage.