1) Initial call 📞 - To discuss your circumstances, this gives us brokers an idea around the scenario and allows us to fully understand your objective.
2) Collecting Documents 📃- Some brokers will spit out figures before doing this, however we like to be accurate on proposals. So we’ll ask for some of your documents (not all) - things like, savings statements, everyday spending account, payslips and ID - this gives us enough to work with to give you an accurate proposal.
3) Present proposal 👍 - Here’s a proposal that shows you the figures, rates, weekly repayments, spend cost, type of loan and possibly based on our findings a propersition you may not have thought of 🤔 to give you something to think about
4) Another call 📞 or a “yes please let’s do that” - well then prepare your file 📁 ready for submission for the lender
5) Submission ✅ - this process depending on lender can take anywhere between 1-5 business days. It just depends on how busy the lender is at the time.
6) Pre-approval completed 💰- this will last for 90 days and can be extended by another 90 days with some updated payslips
So what does that mean now? You can hunting the market knowing you’re fully backed by a lender or you can now reach out to your buyers agent to begin the search process.
All in all the entire process is going to take around 5-10 business days. It all depends on how quick you manage to get your paperwork together and if we need to fix any “kinks” along the way (poor credit score / undisclosed loan etc. etc.)
Book a discovery call today - https://linktr.ee/rossthemortgagebroker
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