In early February 2023, a couple eager to step onto the property ladder approached us. As First-Time Buyers, they were entering unfamiliar territory; they hadn't explored options with their bank or consulted any brokers. This couple came to NEST on the recommendation of friends – a testament to our trusted reputation. With savings of around £13,000 and stable full-time jobs, they were well-prepared, albeit uncertain about the intricacies of the home-buying process. As foreign nationals with full Settlement Status, they had established roots in the UK after many years and were ready to solidify their commitment by purchasing their own home.
The couple’s aspiration was twofold: not only did they desire to understand the entire home-buying process, but they also hoped to buy the very flat they were renting. The journey from dream to reality was dotted with questions about procedures, costs, and more.
PURCHASE PRICE
MORTGAGE TERM
AGE OF CLIENT(S)
CREDIT SCORE (out of 1000)
Following our initial meeting, in which we discussed the clients' objectives, we recommended several steps to bolster their forthcoming mortgage application.
Firstly, we advised them to maintain any regular overtime, where feasible. This isn't merely about enhancing short-term earnings in the recent three months for improved affordability; both the P60 and Year-to-Date figures provide an honest reflection of income. Secondly, we emphasised the importance of avoiding any new credit applications and ensuring they stay on top of their current financial commitments without any missed payments. Lastly, we highlighted the value of registering on the Voter's Roll, a strategic move that can significantly enhance their credit score.
7th FebruaryAgreement in Principle with High street lender
8th FebruarySale agreed with landlord
12th FebruaryApplication submitted
20th FebruaryMortgage Offer issued
30th JuneExchange date
7th JulyCompletion
What happened next...
Thrilled clients and referrals from friends are our greatest testimonials! For us, the foundation of a successful mortgage application lies in thorough PREPARATION. The duration varies; sometimes it's lengthy, sometimes it's swift.
It's crucial to understand that each case is unique and can't be benchmarked against others. We're confident that with the right guidance from a professional mortgage adviser, everyone has the potential to own a property.
How we can help you
We are proud to have many happy clients who have referred us to others. Our key to success lies in thorough preparation for each mortgage application. While the timeline for each application may vary, we approach every case with the same level of dedication and attention to detail.
We recognise that every client's situation is unique and requires a personalised approach. Our team of professional mortgage advisers is committed to providing tailored guidance and support to help every client achieve their goal of homeownership.
If you're ready to take on the challenge of purchasing your own property, we're here to help. Contact us and let us guide you through the mortgage process with confidence and ease.
Think carefully before securing debts against your property. Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
