Newland Avenue - Hull

When should I first speak to a mortgage adviser?

Buying your first home is an exciting and scary experience. With so many things going through your mind at once, it can be difficult to know what to do first! Should you find a property you want to buy, or have a chat with a mortgage adviser?

When’s the best time to speak to a mortgage adviser for the first time?

The best time to have your first chat with a mortgage adviser is before you start the search for a property. As experienced professionals, they’ll review your personal circumstances tell you what you can afford to buy, which means you’ll be able to look for the right properties from the very beginning. They can also provide you with a Decision in Principle, which you’ll need when the time comes to putting in an offer.

What happens if I wait see a mortgage adviser until after I’ve made an offer on a property?

In some instances, waiting until later on to see a mortgage adviser could slow down the process of buying a home, or getting the property that you want.

Most sellers will ask you to provide a Decision in Principle when they accept an offer on a property - this proves that you are in a position to get a mortgage and are in a good position to proceed with the purchase. If you don’t have a Decision in Principle to present when your offer has been accepted, the seller will likely keep the property on the market and allow other viewings or offers until they receive this from you. This means you could be at risk of losing out to another buyer who already has things ready and is in a position to proceed more quickly.

Expert advice

Our mortgage advisers can search from 1000s of deals with over 90 lenders, which means they have the best chance of finding the best mortgage to suit your individual needs. If you’d like to speak to one of our mortgage advisers to get some initial, free advice, give us a call on 01482 470444 or send us an e-mail.

Meet our mortgage advisers in Hull

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.

Need more help?

Contact us