Getting Ready for Your Mortgage Appointment
You have booked an appointment with Green & Green and you are getting ready to speak with a mortgage adviser.
This page answers common questions about what you need before your appointment, what happens during the first stage, and how to prepare for your mortgage application.
Q: What documents do you need for a mortgage appointment?
If you are employed, you will usually need your last 3 months’ payslips.
If you are self-employed, you will usually need your last 2 years’ self-assessments and finalised accounts. If you are a limited company director with more than 25% shareholding, company accounts may also be needed.
You will also usually need:
2 forms of ID
A full credit report
Last 3 months’ bank statements
Q: How long does a mortgage appointment last?
Most mortgage appointments last around 45 minutes.
This can vary depending on your situation, how much experience you have with mortgages, and whether your documents have been sent before the meeting.
A first-time buyer may need a longer appointment than someone who has had a mortgage before.
Q: What information will you take from me in the mortgage appointment?
Your adviser will usually ask for:
Your last 3 years’ address history
Your employment history
Your income details
Your regular outgoings
Your deposit amount
Your credit history
Your plans for the property
This helps your adviser understand what mortgage options may be suitable for you.
Q: What happens after the initial mortgage appointment?
After your appointment, your adviser will calculate your mortgage affordability and look for the most suitable lender.
They will then aim to secure a Mortgage in Principle and prepare a mortgage recommendation for you.
Your adviser will explain the recommendation clearly and answer any questions before you decide whether to move forward.
Q: How long does it take to get a Mortgage in Principle?
Green & Green aims to turn around a Mortgage in Principle within 48 hours.
This may take longer if your situation is more complex or if more information is needed.
Q: Does a Mortgage in Principle affect my credit score?
In most cases, a Mortgage in Principle should not affect your credit score because it is usually a soft search.
Q: Does a mortgage application affect my credit score?
A full mortgage application is usually a hard search on your credit file.
One or two mortgage applications should not normally have a major impact, but it is best to avoid making lots of applications in a short space of time.
Q: Does a Mortgage in Principle guarantee I will be accepted?
No. A Mortgage in Principle does not guarantee that your full mortgage application will be accepted.
It is a positive sign, but the lender will still need to fully review your application, documents, credit file and property details.
Q: What checks does the lender carry out?
The lender may:
Run a credit check
Review your income documents
Check your bank statements
Assess your affordability
Review the property details
The exact checks will depend on the lender and your situation.
Q: How long does it take to get a mortgage recommendation?
Green & Green aims to send mortgage recommendations within 48 hours.
This can vary depending on how complex your case is and whether all documents have been provided.
Q: If I am happy with the recommendation, what do I do next?
If you are happy with the recommendation, you can confirm in writing that you would like to proceed.
This gives Green & Green an audit trail and allows your adviser to package and submit your full mortgage application.
Q: Can I buy a property near a commercial unit?
This depends on the lender and the property.
Some lenders may be cautious about properties near commercial units that create noise, heat, smells or unsociable working hours. This is because the lender may be concerned about how easy the property would be to sell in the future.
The final decision will usually depend on the valuation and the valuer’s comments.
Q: How do I make an offer on a property?
You usually call the estate agent marketing the property and make your offer over the phone.
The estate agent will then pass your offer to the seller in writing.
Q: How do I choose a solicitor?
It is a good idea to ask friends and family for recommendations.
You can also check online reviews and speak to a few solicitors before choosing one. This helps you compare costs and get a feel for how helpful and responsive they are.
Q: When do I need to find a solicitor?
You do not need a solicitor until you have had an offer accepted on a property.
However, once your offer is accepted, the estate agent will usually ask who your solicitor is so they can prepare the memorandum of sale.
Need Help Getting Started?
If you are preparing to buy, move or remortgage, Green & Green can help you understand what to do next.
