What happens at a mortgage appointment? (2024)

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What happens at a mortgage appointment?

Whether you’re a first time buyer with no idea what to expect, or are coming to the end of your current deal and are thinking of remortgaging, here’s everything you can expect from your mortgage appointment.

Published:19 July 2023

Last updated:19 July 2023

What happens at a mortgage appointment? (1)

We understand that getting a mortgage can seem a complicated process. By understanding exactly what you can expect from your upcoming appointment, you can feel in control knowing everything is being taken care of for you.

Preparation is key

Before your appointment, it’s best practice to gather all the necessary documentation you’ll need. This will include bank statements, payslips, proof of deposit, proof of address, and other relevant financial documents. This could demonstrate to your adviser that you’re proactive, and also speed up the application process. Remember, each lender’s criteria is different, so the documentation required may vary.

Deep diving into your finances

During your first appointment, your adviser will start by conducting a thorough examination of your financial situation (and your partner’s, if it’s a joint application). They’ll analyse your income and outgoings, expenses, credit history, deposit, and any other financial commitments.

They’ll also ask questions about the property you’re purchasing or currently own, and information on your current mortgage deal if you have one. This allows the adviser to build a profile for you in terms of your borrowing power, and assess the level of financial risk you may present to lenders.

They will also ask you about the type of mortgage you’re interested in, how you want to pay, and any future plans that may result in a change in circ*mstances and potentially impact your mortgage.

Explaining your options

Once this information has been collated, you’ll be invited back to a second appointment. At this point, you’ll be presented with a number of mortgage options based on the information provided regarding your financial circ*mstances. Your adviser will talk you through each option, explaining the type, term, interest rate, a breakdown of your monthly repayments, and associated fees.

After deciding which mortgage deal is right for you, your adviser will then guide you through the application process and submit this to the lender on your behalf. You’ll then be on your way to receiving your first mortgage offer.

Here to help

While it’s natural to experience nerves at the prospect of getting a mortgage, it’s important to remember that advisers are there to help you to realise your dreams of homeownership. Whether your appointment is face-to-face, via phone, or virtually, they are on hand to support and guide you through the process.

If you’re thinking of getting a mortgage or have questions about your current deal, get in touch with our friendly team of advisers today.

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend on your circ*mstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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