As part of the ongoing safety measures Developers are requesting that you are “qualified” by a trusted mortgage broker partner before you can attend their site.
What does this mean to you?
We have put together the 5 reasons why this has become so important and hopefully this adds some clarity to your journey of purchasing a new home.
1.
The housing minister made it clear to all developers that in order to re-open their sites they must only allow viewings by customers who are considered serious buyers. A clear way of demonstrating that you are in a position to proceed, and therefore a serious buyer, would be to assess and confirm your ability to obtain borrowing for the property.
2.
With Lenders making so many changes to criteria coupled with potential changes with your personal circumstances we will assess your situation as it stands now, with what is available from Lenders. We can discuss all of your options with this in mind.
3.
We now need to credit score all applicants before you can proceed. This is to establish the options available to you as an individual. Lenders have become more restrictive on the lending they can consider. We will explain what you can do immediately however if you can’t proceed now then we will explain how we can help you get into a position where you can move forward.
4.
In order for us to fully assess your circumstances and options which includes a lending decision we will ask you to provide us with information including evidence of your income. This will ensure that we are providing the correct information to the Lenders to ensure the decision we receive will enable you to proceed to a full application and mortgage offer which will enable you to purchase your dream home.
5.
Knowing exactly what you can borrow before you get to site will give you the confidence to discuss your new home needs with the understanding what is affordable to you. You can then focus entirely on the property you want to buy instead of how much it will cost.
We provide a fee free service and we are a 5* rated broker by trust pilot so don’t just take our word for it.
The Mortgage Brain are expert mortgage advisers that specialise in New Build mortgages and we are here to assist you with your house purchase. Our expert Advisers in this specialist sector will establish the best financial solution for you as well as guiding you through the whole house purchase journey.
