How a mortgage broker supports you from application to completion

The property buying process certainly can’t be described as ‘quick’ here in the UK. On average, it takes between 15 and 20 weeks to complete on a property, and that’s after you’ve spent all those weeks and months searching for exactly the right home, plus additional time saving for a house deposit. During this eventful and extremely exciting period, you’ll need support from exactly the right professionals to ensure things go as smoothly as possible.

Alongside a reputable estate agent and conveyancer, recruiting the help of an independent mortgage broker can be invaluable. Here we share how a broker can support you every step of the way, from application to completion and beyond…

Prior to the search

Before you even begin your property search, you should enlist a mortgage broker. At this stage, you can prepare for the tasks and challenges ahead, with the initial consultation with our independent advisors a crucial financial fact-finding mission.

By collaborating with a mortgage broker early, you can establish mortgage affordability, assess your readiness, and minimise the risk of wasted property viewings and failed offers. With our help, you get to proceed with confidence and an accurate, lender-backed budget that cuts out the guesswork.

Before your offer

Securing an Agreement in Principle (AIP) is one of the first milestone moments during the mortgage application process, and one that could make your dream home a reality! Our mortgage brokers will help you obtain an AIP as house hunting gets more serious. And doing so, may just give you the edge if competition is high when you’re ready to make an offer. We’ll let First Time Buyer explain how:

“Having an Agreement in Principle shows estate agents and sellers that you are a serious and credible buyer. In a competitive property market, this can be particularly advantageous. An Agreement in Principle can strengthen your position in negotiations as it provides reassurance to the seller that you have the financial capacity to complete the purchase.”

After acceptance

Once your offer is accepted, the work really begins, with your broker poised to turn that AIP into a concrete, formal mortgage offer. During the underwriting process, they’ll deal with a lot of paperwork so you don’t have to! They’ll also review, recheck and explain throughout before submitting the full mortgage application and managing any ongoing queries from the lender.

During conveyancing

Your broker will play an active role in liaising with other involved parties (including your estate agent, solicitor and lender) to prevent delays and issues that could halt the legal transfer of ownership. Once the mortgage offer has been issued, they’ll also work to secure formal approval, passing on any required documentation to your solicitor and confirming lender conditions.

The road to completion

Around a month before completion, the exchange of contracts will take place to confirm your legal commitment to purchasing the property. It’s at this stage when mortgage funds and your deposit are confirmed, with your broker coordinating with your lender in preparation for completion day.

On completion day, funds will be released, with your broker ensuring a smooth mortgage drawdown to finish the process.

Beyond your property purchase

A strong broker relationship doesn’t end when you move in. Our independent mortgage brokers are here for you for the long term, with remortgage help available up to six months before your fixed rate deal comes to an end.

To find out more about our mortgage guidance or for assistance with remortgaging, get in touch today.