We are often asked how quickly can my mortgage progress.
The speed with which we can arrange a mortgage is very much a team effort. If documents needed as part of the mortgage process are supplied to us in a timely manner, the timeline looks something like the following;
Appointment within 24 hours
We can and do frequently meet within 24 hours. We will meet on an evening, during the day at your home, work or our office and also work weekends – we are able to understand your needs and advise what documents we need.
Product Recommendation within 24 hours
We source across the market to find you the most suitable product for your needs. We act only for you.
Approval in Principle
This is where a lender will credit search you to see if you fit their criteria. We are able to do this as soon as the product recommendation is agreed and takes about 45 minutes.
Mortgage Application
The next step and done as soon as the Approval in Principle is agreed. At this stage we supply the bank with the documents they require – the sooner these are provided to us, the quicker we can action. The valuation is also instructed.
Mortgage Offer
The important piece of paper! We aim to obtain an offer within 14 days.
We are there to handle all of the application and ensure that the process runs smoothly. A good mortgage broker will liaise with all parties, eg bank/building society, estate agent, solicitor etc so that you can relax and wait for the mortgage offer to come through!
Local, face to face, independent mortgage advice can smooth the whole process and we would be delighted to help.
Paul Hardingham and Tony Ibson are Mortgage and Protection Advisers at Innovate Mortgages and Loans. Both have over 20 years of experience advising individuals and businesses across the North East of England. They can be contacted for bespoke advice at paul@innovateml.co.uk or tony@innovateml.co.uk or call 0191 223 3514.
Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
