Posted by John Yerou
on July 10th, 2015 07:14am in
Last Updated on December 23rd, 2018 18:13pm.
Estimated Reading Time: 1 minute
The good news is, we’ve already taken care of much of the application work for you.
First, you want an idea of how much your contract rate will allow you to borrow. Enter your day or hourly rate into our calculator and that will give you a guide.
Next, you want an Agreement/Decision in Principle. Talk to an adviser and give them your info. If you’re not sure, don’t worry. Our staff are past masters and they’ll prompt you for what they need.
If you’ve not got time there and then, you can request a call back when it’s more appropriate. Yes, we’ll even pick up the tab for that call.
More often than not, we can get you that AIP the same day. You have that in your arsenal to go and negotiate the best price for your new home.
Get a firm offer on the table
When you’re happy with the price, it’s time to get a firm offer from the lender. Let us know and we’ll get that under way for you. At this point, we’ll give you an assigned account manager. They’ll take of your every whim. Well, within reason.
As soon as your manager receives the offer, we’ll confirm the exact amount and the repayment details. We’ll always try to get an offer as close to your original spec as possible.
Once the vendor accepts the offer, your manager will take over the process for you. Said process should take no more than 4-6 weeks. It may even be sooner, so be on your toes.
Your Account Manager: a friend for life
You can contact your manager at any time during the application process for an update. But the likelihood is, they’ll be the one contacting you with news. Time will fly faster than you know.
And that’s it, we’ll look after you right up to the point of completion. Even then, never be afraid to call us.
As we’ve said, your mortgage adviser should be your friend for life. They look after the biggest financial decision you’re ever likely to make, so why wouldn’t you stay in touch.
Once you get the hang of it, you may want to buy a home as a future investment. Many contractors choose Buy-to-Let to prop up their pension. Don’t ever think that crossing one threshold is the extent of what you can do with mortgages.
Author: John Yerou
John Yerou is the owner and founder of C&F Mortgages; a trading style & trade mark of the award winning Mortgage Quest Ltd. One of the most recognised names in providing mortgages for contractors and freelancers across the UK.
In 2004 John began his career in Financial Services as an independent mortgage adviser and broker. John has been instrumental in negotiating bespoke underwriting for contractors with high street lenders.
His presence in the industry as a go-to expert is growing by the day and he is regularly cited and writes in publications both locally and nationally.