Mortgage Applications

How is life going for you all?

I hope its good.

We’ve having some crazy weather here. 30 degree’s one day and then flooding the next! Just give me the beautiful season of autumn, inject some Halloween and I’ll be ace.

So life the last few weeks has been stress. I mean limited sleep, long work hours, evening appointments, phone calls, emails, online accounts.

house2

We’ve started the process of our mortgage application. Amazing and we are so excited!

The thing I don’t like: Intimately sharing so much of our financial lives with several people. I imagine like any of you that have moved out and had to save money for a down payment may also be protective of that money and not want to share the ins and outs with others. You know, it raising the risks right?

This is something that I’ve just had to suck up and get over if we want to actually get anywhere. So we’ve shared everything with solicitors, mortgage brokers and the bank, at least 5 people have been involved so far in the financial side.

I’ve gotten very intimate with paperwork and making life altering situations. It has literally been a learn as we go thing. My brother-in-law is a god send, I am honestly gonna buy that man such a present when this is over!

He’s answered all my stupid questions, explained things several times over to me, I mean several times and has been great in helping us hunt and recommending the time we get a mortgage as it’s at an all time national low.

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There’s hidden things though. Things that can cause delays for weeks. Now if like me you’ve read the basics, you know that you need:

*Good income.

*Good deposit, the more the better.

*You’ll borrow money from a bank depending on your earnings, better credit score, more likely to get a better chance at being lent to.

*If self-employed you’ll need 2-3 years of certified accounts for most banks.

Simples right?

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Wrong.

I’ll be making this into a little series over the next few weeks as we go through it. Please let me know what you think, either through likes or comments and I’ll go more in-depth with it for people.

Personally I’ve found very little blogs out there that have a personal experience in regardst to buying for the first or even second time; that aren’t written by a lender/bank/broker etc.

Let me know, I’ll release part 2 soon!

K

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