Mortgage Loan Application ProcessApplication procedure for mortgage loans
Have a look at our mortgage calculator to see your estimates of your mortgage payments per month.
Appointments are customized to your specific needs and usually last about 2hrs. Speaking with you and understand your household budgets and lifestyles, we will help you find the best mortgage for your needs. It indicates how much the mortgage lender is willing to loan you, provided the building is approved.
The mortgage cover can be discussed with an adviser. In order to obtain a mortgage, you must have the following: As soon as you have finished reading our step-by-step instructions for the mortgage application, take a look at one of the other items on our website that can help you close some of the loopholes.
Collateralised loans: from beginning to end
Over the past few months we have looked closely at a bridge loan application and analysed every stage of the process from the moment we asked for a loan from a real estate agent to the release of the money. We will do the same in this item, but for a secure credit application. Like always, the application process for a secure loan usually begins with a call, e-mail or facsimile (yes, there are still facsimiles ) from one of our importing brokers.
As soon as we have all this information, we will know if and with which creditor the application will be successful or not. We will be able to provide an immediate response and provide suggestive terminology based on the loan and land register search that we ask the agent to authorise on customer's behalf. Nine out of ten cases will be available to us.
Here, if the brokers have not asked us from the outset to look after the customer directly (this may happen), we will ask their approval to talk directly to the customer. Here, the further course of the application will depend on whether the loan is secure against the applicant's principal building or a buy-to-lease or not.
The former is classed as a CCA-regulated loan, while a loan hedged against a buy-to-lease is not. Let's first look at the credits that the CCA regulates. Basically, everything that was talked about in the first meeting with the brokers now has to be delivered by the customer.
And the same is true for the customer's agent. As soon as these are agreed, we have almost everything we need to assist the application in the files. Last thing we need to do is to order the evaluation that will be done by a panellist of the respective creditor to whom we will submit the loan.
In essence, this is a qualitative review that we have carried out to make sure that when the application arrives at the creditor, everything that should be in the case record is in the case record. Following the inspection of our products, we present the complete case record to the creditor. As soon as the creditor has all the information and is satisfied with it, he will call the customer directly before using the means and ask him some general safety issues.
Usually the whole process takes three months from beginning to end. This process applied to CCA-regulated credits. Of course, this means that they are usually more quickly arranges than CCA-regulated credits.