When you’re moving house you’ll want to be sure of finding the right mortgage at the right price, which can be confusing.
Your first steps could be that you want to know how high you can go on price and if your income is enough to repay what you borrow. You’ll then want to know what the monthly repayments are likely to be. All of which means finding the best rate and the right lender, which can be tricky. This is where applying though McCoy Mortgages can benefit you because we’ll search through thousands of mortgages to find what is best suited to your needs and circumstances.
Can I sort out a mortgage before finding my new home?
Yes you can. You can get an “agreement in principle” without actually having a property in mind. This sort of agreement comes with a time limit, but when you are ready does allow you to go house hunting with the confidence that you should have your mortgage.
Having obtained an agreement in principle means you have passed a credit score and, subject to all additional supporting information and documents checking out, you will know you should get your mortgage and how much you can borrow.
And then, when you have found your dream property, simply ask your mortgage advisor to convert your agreement in principle into a full mortgage application.
McCoy Mportgages are happy to give advice and apply for decisions in principle on behalf of both existing and new clients at no charge.
So, what exactly is a mortgage? See our mortgage guide BELOW