When buying a property one of the most common frustrations is the amount of time it takes to get from an agreement to purchase to completion of the sale.
Probably the most significant impact on the timeline is likely to be the mortgage application process. This is largely because post 2008 the major lenders have been forced to ‘bootstrap’ their vetting process. This means more information and therefore, more questions.
There is little that can be done to speed up the process and, frankly, you should not want to do so. The various requirements are put in place to protect lenders as well as banks. However, there are some simple things you can do to help smooth the process. They are;
All of these precautions are administrative. There is no real way around the process but you can, at least, prepare for it and make the process efficient and trouble-free.
Of course, one of the best ways to ensure a relatively trouble-free application process is to employ a professional mortgage advisor to act on your behalf. We do this every day for hundreds of clients and what might seem complicated and painstaking for you is ‘bread and butter’ to us.
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For more information or to speak to a mortgage adviser, contact us on 01628 507477.
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