1. The preliminary meeting
The purpose of the initial consultation is to establish your individual circumstances and financial needs in order that we may guide and prepare you for the process that lies ahead.
If required, a mortgage can be agreed in principle at this stage to give you added peace of mind and confidence in pursuing your purchase.
Once you have had an offer accepted on a property and we have completed the initial fact finding in stage 1 we will assist you through the application process. The volume of paperwork can be quite daunting but our role is to make it as simple as possible whilst, of course, advising you of the relevance and importance of each document. Once the application is complete we will then submit it to the lender on your behalf.
3. Case tracking
Once the application has been received by the designated lender our specialist administration unit will then work on your behalf to satisfy the lender’s requirements. You will receive regular updates and can choose whether to opt to receive them by phone, email or even text message.
4. Mortgage offer
At this point a mortgage offer is produced and sent to your lawyer. This is an important milestone as it confirms that the mortgage has been approved and that the money is in place ready to exchange contracts.
5. Exchange of contracts/completion
Working closely with your lawyer we will make sure that the mortgage money is in place ready to be drawn upon so that contracts can be exchanged. We will also ensure that any insurance products that have been applied for are also put on risk so that you are covered. Upon exchange a completion date will be agreed between all parties and at this stage we will ensure that the mortgage money is drawn down into your lawyer’s account. The property is now yours.
6. Review service
The mortgage market is fast moving and regular review is essential to ensure that you retain the best deal. Typically at the end of a special rate period your mortgage will revert to the current variable rate, which may result in substantially higher monthly repayments than may be available via a simple re-mortgage. To this end as part of an automated review service Limetree Financial Services will contact you just prior to the expiration of your special rate period to make you aware of what options are available.