Buying a home is an exciting milestone, but if you are new to the process, the mortgage journey can feel unclear. Understanding what happens at each stage can help you feel more confident and prepared, from your first viewing right through to collecting the keys.
Whether you are just starting to browse properties or are ready to make an offer, here is a simple guide to the mortgage journey and how our independent mortgage advisers at Richard Kendall Estate Agent can support you along the way.
Step 1: Getting mortgage ready
Before booking viewings, it is important to understand your budget. Speaking to a mortgage adviser early helps you establish how much you could borrow and what your monthly repayments might look like.
Being mortgage ready puts you in a strong position when you find the right property and shows sellers and estate agents that you are serious and prepared to move forward.
Step 2: Viewing properties
Once you know your budget, you can focus on viewing homes that suit your price range. This helps you avoid disappointment and makes the process far more efficient.
Buyers who are financially prepared often feel more confident when making decisions and can move quickly when the right opportunity arises.
Step 3: Making an offer
When you find a property you love, you can make an offer through the estate agent. Having an Agreement in Principle in place at this stage can strengthen your offer and reassure the seller that your finances are on track.
If your offer is accepted, the next stages of the process can begin without delay.
Step 4: Submitting your mortgage application
Once your offer has been agreed, your mortgage adviser will submit a full mortgage application to the chosen lender. This will include providing documents such as proof of income, bank statements, and identification.
The lender will review your application and arrange a valuation of the property to confirm it is suitable security for the mortgage.
Step 5: Mortgage offer and conveyancing
If the lender is happy with your application and the valuation, they will issue a formal mortgage offer. At the same time, the conveyancing process will be well underway.
Your solicitor or licensed conveyancer will carry out legal checks and property searches, review the contract, and raise any enquiries with the seller’s solicitor. This work is essential to ensure there are no legal issues with the property before you commit to the purchase.
Clear communication between your conveyancer, mortgage adviser, and estate agent helps keep this stage running smoothly.
Step 6: Exchange and completion
Once all legal checks are complete and the mortgage offer is in place, contracts are exchanged. At this point, the purchase becomes legally binding.
Completion then follows, which is when the mortgage funds are released, ownership is transferred, and you can finally collect the keys to your new home.
Support throughout your mortgage journey
The mortgage journey does not need to feel complicated. With the right advice and preparation, each stage becomes clearer and more manageable. Here at Richard Kendall, our independent mortgage advisers here to guide you from the very beginning through to completion, helping you move forward with confidence.
Ready to take the next step? Get in touch with any of our local offices or email This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss your mortgage options.
As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments. This site is intended for UK residents only and the laws of England are applicable.
