Moving Home | Affluence

MORTGAGES FOR
Moving Home

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MOVING HOME MORTGAGE ADVICE

Whilst moving house is exciting for the whole family it’s said to be one of the most stressful times in our lives.

Even if you’ve moved home before, there are so many things to think about, and lots of the information you’ve received up to now may be confusing.

That’s because everyone’s situation is different.

We understand the need for impartial advice from someone who understands your situation so they can offer you expert advice that helps you move home with as little stress as possible.

Whether you are ready to move home now or just want to know more about your options for the future, our Mortgage Advisor is ready to help you every step of the way.

MOVING HOME PROCESS

Our Mortgage Adviser will help guide you through every step of the process, and our service is free of charge until the point when you have found a buyer for your current home and you are ready to apply for the mortgage on your new home.

Agreement in Principle

It’s a good idea to get an agreement in principle before you think about selling your current home.

The agreement-in-principle gives you the confidence that you can get the mortgage you will need before you commit to selling your current home.

It helps you understand how much you can borrow and work out your budget.

An agreement, in principle, is a certificate issued by a mortgage lender that also gives an Estate Agent confidence that you can get the mortgage you need to buy the home they are selling.

Choose and Apply for a Mortgage

There are many choices to be made before applying for your new mortgage. You can choose a Fixed, Discounted or Tracker Rate mortgage.

It may be that the mortgage on your current home still has some time left to run on a fixed rate, for instance, and there may be penalties to pay if you repay it.

An option to consider is the benefits of taking the existing mortgage with you to your new home if it is portable.

Your mortgage adviser will check if the current mortgage is portable and advise on the benefits of porting your mortgage compared with choosing a new one.

When the bank has approved your mortgage application, you will receive a “Mortgage Offer.”

The mortgage offer will typically be valid for six months and sets out the mortgage terms you have applied for.

Make an Offer via the Estate Agent

When you’ve seen the ideal place to buy you’ll need to make your offer to the Estate Agent.

The Estate Agent will want to see your ID, Agreement in Principle, proof of the sale of your current home and your solicitor’s details.

When the offer has been accepted the Estate Agent will issue a document called a “Memorandum of Sale” that gives the seller’s details as well as yours, the solicitor’s details and the property address and amount you have agreed to pay.

Choose and apply for a mortgage

There are many choices to be made before applying for your new mortgage. You can choose a Fixed, Discounted or Tracker Rate mortgage.

It may be that the mortgage on your current home still has some time left to run on a fixed rate for instance and there may be penalties to pay if you repay it.

An option to consider is the benefits of taking the existing mortgage with you to your new home if it is portable.

Your mortgage adviser will check if the current mortgage is portable and advise on the benefits of porting your mortgage compared with choosing a new one.

When the bank has approved your mortgage application, you will receive a “Mortgage Offer.”

The mortgage offer will typically be valid for six months and sets out the terms of the mortgage you have applied for.

USEFUL LINKS

We understand that obtaining a mortgage involves several steps that may seem daunting, so we’ve assembled a collection of links that will guide you seamlessly through each phase.

From checking your credit file and finding a trustworthy solicitor to arranging for a property survey, understanding Stamp Duty payments, securing an EPC Certificate, and getting instant Life Insurance quotes, we’ve got you covered. We even offer guidance on how to apply for the insurance you need.

Check How Much Stamp Duty You’ll Need to Pay

Find an EPC Certificate

Get Advice and Apply for the Insurance You Need