Once your mortgage advisor in Nottingham manages to find the perfect mortgage product for your individual circumstances, they will get back to you and provide details on their recommendation. They will do this by providing you with a mortgage illustration. This applies to all mortgage scenarios, from first time buyers in Sheffield to landlords investing in buy to let in Sheffield.
A mortgage illustration is a document that outlines all of the details of a mortgage product. Your mortgage advisor in Nottingham will run through this document with you once they send it over.
Your mortgage illustration will include various bits of information about your mortgage. The basics include all of the costs associated with taking out the mortgage deal, such as your monthly mortgage repayments, arrangement fees, valuation fees and the costs of using a mortgage broker in Nottingham (if you choose to go down this route).
The costs that it does not include are those charged by your solicitors or any insurance products that you take out in the process. A mortgage illustration will only cover the costs associated with the mortgage itself.
Your mortgage advisor in Nottingham will talk you through legal fees and how they work separately.
You are under no obligation to agree to your mortgage recommendation. If you would like us to search for other options, we would be happy to do so too.
It is important to know that your mortgage advisor in Nottingham will only recommend a mortgage product that is tailored to your personal and financial situation. They will also do their best to save you money where they can.
If you decide that you do not want to proceed with us, unfortunately, you will not be able to take the product that we have found you with you. You will not be charged because we only charge a broker fee on a successful mortgage completion.
We would love to be able to say yes to this question, however, it is not the case. A mortgage illustration does not guarantee you a mortgage. Once you receive a mortgage illustration, you will need to provide evidential documents to prove that you can afford to take out this mortgage product.
Your dedicated case manager will help you prepare the relevant documents for your mortgage application. Once you send this off, your case manager will keep you up-to-date with the progress of your application. As soon as they hear the good news back from the mortgage lender, they will be right back in touch!
Even if you have an agreement in principle, there is still a possibility that you could be declined. This could be due to poor credit, insufficient income evidence, or even sometimes things out of your control, such as problems with the property.
If you are looking for an agreement in principle, get in touch today. We can arrange one within 24 hours of your free mortgage appointment! Book your free mortgage appointment online and begin your mortgage process.
Date Last Edited 25/09/2023