It’s A Buyers’ Market – But Take Advice

The Mortgage Shop is the largest independent mortgage broker in Northern Ireland with branches throughout the country. We have a team of experienced and professionally qualified advisers whose job it is to source the whole of the mortgage market and obtain a mortgage to suit the needs of each client, be they first time buyers, home movers, home improvers or investors. We see our job as providing help and guidance to purchasers with regards to what is probably the biggest financial transaction of their lives, ensuring that not only can they buy their dream home, but that they can also protect themselves against losing their home, through loss of income due to accident, illness, unemployment or even death. The current financial situation has resulted in a lot of property for sale on the market, but many more restrictions being imposed by lenders. However, there are still deals to be done – meaning all the more reason for clients to consult their broker.

KEY STEPS
1. Visit us to discuss your mortgage and protection needs, and get a good idea of how much you can borrow. The Mortgage Shop, as a whole of market broker, can check your affordability with all the major lenders. There is little point in you making seven appointments with seven high street lenders, all of whom are pushing their own agenda.
2. Register with estate agents, check property websites and the local property press. When you have decided on a particular property, make an offer. When your offer is accepted you need to contact us and complete a mortgage application. The lender will undertake credit searches and instruct a valuation. It may be a good idea to get a more detailed survey done, especially if you are buying an older property. This will give you more information on the property and may help you negotiate a lower price.
3. Instruct a solicitor who will undertake all the legal work required throughout the process of buying your home. The lender will issue a mortgage offer detailing any further conditions.
4. Finalise your protection and buildings insurance with us, as this needs to be approved prior to completion
5. Your solicitor puts you in contract and arranges a completion date
6. Collect your keys and move in.

REMORTGAGING / HOME IMPROVEMENTS
Once again contact The Mortgage Shop for whole of market advice, but this is a much simpler process, because there is no sale involved. Colin Dunwoody can be contacted at The Mortgage Shop, Bangor, call 028 9147 7475 or email him at colin.dunwoody@themortgageshop.net