Mortgage Advice

Mortgage Advice

Greenways Property work with Seico Mortgages in Hove to provide you with expert mortgage and protection advice. Whether you are a first time buyer or have experience in moving house you are going to need your finances in place to ensure the process is smooth.

Mortgage Guide

Arranging a mortgage can be a complex process, but with the right preparation and guidance, it can be made easier. Here’s a general guide for arranging a mortgage in England and Northern Ireland:

Check your eligibility

Before you start applying for mortgages, check your eligibility for a mortgage. This will depend on factors such as your income, credit score, and the size of your deposit. You can use mortgage calculators to get an idea of what you can afford and what your monthly repayments might be.

Choose the right mortgage

There are many different types of mortgages available, such as fixed-rate mortgages, tracker mortgages, and variable-rate mortgages. Each has its own pros and cons, so it’s important to choose the right type of mortgage for your circumstances. Consider factors such as interest rates, repayment terms, and fees.

Find a mortgage broker

A mortgage broker can help you find the right mortgage for your needs and guide you through the application process. They will be able to compare different mortgage deals from a range of lenders and advise you on the most suitable options.

Prepare your documentation

When you apply for a mortgage, you will need to provide documentation such as proof of income, bank statements, and identification. Make sure you have all the necessary documents ready before you apply, to avoid delays in the process.

Complete the mortgage application

Your mortgage broker will help you complete the mortgage application and submit it to the lender. The lender will carry out a credit check and assess your affordability before deciding whether to offer you a mortgage.

Obtain a mortgage agreement in principle

Once your application has been approved, you will receive a mortgage agreement in principle. This will give you an idea of how much you can borrow and show estate agents and sellers that you are a serious buyer.

Arrange a mortgage valuation

Before the lender offers you a mortgage, they will carry out a mortgage valuation on the property you wish to buy. This is to ensure that the property is worth the amount you are borrowing.

Finalise the mortgage offer

Once the mortgage valuation has been completed, the lender will issue a final mortgage offer. This will confirm the amount of the loan, the repayment terms, and any conditions attached to the mortgage.

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