Please, contact us on 01733 308666 kat.chiva@haverfords.co.uk

Mortgages


Buying a home

is likely to be the best long-term investment most people ever make. The advantage of a repayment mortgage is that it provides the kind of discipline most investors just don’t have - and at the end you’ll hopefully own an asset worth a small fortune. 
We provide independent and whole of the market advice on mortgages and the home buying process for clients in Peterborough and surrounding areas. We help first time buyers (including those who purchase with the help of government schemes), existing homeowners as well as investment buyers and large portfolio holders.

HOW MUCH DOES IT COST?

If you like to budget and are concerned about the cost of purchasing a residential property, these are the approximate costs involved. They may change but were correct in May 2015.

RESIDENTIAL PURCHASE
Solicitors £1200 - £1400
Valuation fee* £120 - £600
Homebuyer Insurance** £90
Lender application fee *** £0 - £1000
Mortgage arrangement fee # £249
Stamp duty ## ##
* depending on the type of valuation you require and lender's charge
** not mandatory
*** depending on selected mortgage product
# standard application fee
## depending on the purchase price
5 STEPS OF SECURING MORTGAGE OFFER
Information gathering, about your personal and financial circumstances, such as employment and credit history. We will also discuss various mortgage types and repayment options to ensure the loan is most suitable and meets your needs and requirements.
This will involve a full credit check by the lender and confirm in writing how much they are prepared to lend to you, subject to them checking the information you have given to them. This AIP can then be used to confirm your credit worthiness and seriousness as a bidder to the seller of the property.
More detailed information is provided to the lender. Usually, once the full mortgage application is submitted the lender will ask for documents evidencing the information provided, such as recent wageslips, bank statements or accounts for self – employed individuals.
The mortgage valuation is for the benefit of the mortgage lender. It is designed to give enough information for the lender to decide whether the property is safe to lend on, and up to what amount. Though you may pay for the report, you might not get a copy or even see what the surveyor has written.
When the lender has completed all of their checks and everything is satisfactory, they will send you a ‘Mortgage Offer’ which is a formal document confirming that your mortgage loan has been agreed. The Mortgage Offer includes a full illustration of mortgage costs and terms. A copy will be sent directly to your legal representative and financial adviser who will then be able to finalise the purchase on your behalf.
FREE INITIAL CONSULTATION
Our company is all about making sure that every penny you spend goes a long way. This is why we do not charge for initial consultation. What you can expect from the first appointment with our adviser?
1. Assessment of your personal, financial situation. We’ll ask you to fill out our Fact Find document. This can be done on line, via email or in person. You choose what’s the best
2. Understanding of your needs and requirements. We will ask you about your preferred types of mortgages, repayment strategies, and other features of the mortgage product
3. Obtaining a Decision in Principle from the selected lender
Free Initial Consultation / Need Help ? Contact Us