Regardless of where your enquiry has originated from, there are a few basic details that we should try to capture through this initial online form: Check
Enquiry Information
The aim of obtaining this information from you is to determine if there is potential to proceed with the mortgage application further. Once we have established a potential, we can proceed to the next stage and agree on the best time for a fact-find meeting. This can be face-to-face or over the phone.
FCA Requirements to Lenders You Should Be Aware Of
Mortgage lenders must ensure you take out a mortgage you can afford. Here is what they will likely check and the information you will have to provide.
Whether you're taking out a new mortgage, extending your current one, or remortgaging with a different lender, the lender must verify that you can afford the repayments both today and in the future.
To prove your income and determine how much you can borrow:
To confirm your spending:
Lenders will look at how interest rates are expected to change over the next five years to see how they could affect your mortgage payments. If your payments are likely to increase, they will check that you can still afford them if your other outgoings and income remain the same. Be aware that interest rates could rise by more than predicted, potentially leading to higher-than-expected payments.
Multiple options & features are included into Product - Remortgage - Eligibility Remortgage
No ratings yet.
