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If you are buying your first home, A1 Mortgage Shop has a great deal to offer. One of our fully qualified Mortgage Advisers can provide you with information about the mortgage products you are interested in.
Applying for your mortgage
A1 Mortgage Shop Advisers will help you choose the most suitable mortgage for your needs and will prepare the necessary paperwork to get you moving. When you apply for your mortgage the lender will arrange a basic valuation report, to make sure the property is worth enough to support the amount you want to borrow.
Mortgage Offer
Once your lender has made all the relevant checks, your lender will make you a mortgage offer. This is a formal document setting out the details of the mortgage.
Exchange of Contracts
Once your solicitor has completed all the necessary legal work, you’ll be able to sign the contracts. The seller signs an identical contract and your respective solicitors swap these signed documents in what’s known as ‘exchange of contracts’. You pay the deposit at this point through your solicitor and you and the seller become legally bound.
Collecting the Keys
When contracts are exchanged, a date is set for completion. On the day of completion, the balance of the purchase price is paid to the seller’s solicitors and the property becomes yours.
You can now collect the keys.
Now the exciting part – moving in!
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