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Stages of applying for a mortgage


Mortgage Application Steps

Find out how much you can afford to borrow

There are lots of calculators that help you do a rough estimate of how much you can afford and how much you may be able to borrow. If you want to do this then we like the Money Advice Service’s Affordability Calculators but remember these are only a guide.


Let My Finance Friend find the right mortgage for you

It’s never too early to start looking for a mortgage. The best way of doing this is to give us a call and let us search the market for you.

Get a mortgage ‘in principal’

Once we’ve found the right mortgage for you, we take the stress away from all the paperwork and work with you to secure a mortgage offer.

Get house hunting – find your dream home

This is the exciting bit so it’s over to you now. House hunting is fun and whether you choose to do your search online, on foot or by gazing through the local estate agent’s windows – take your time to find a house that can become a real home.

Put an offer in…get it accepted!

Any estate agent worth its salt will guide you through this process but remember to talk to family and friends as well to get the best advice on negotiating the right deal for you.

Organise a solicitor and consider a survey

There are thousands of solicitors or conveyancers out there. They will handle all the legal work around buying a property and advise you on the right survey for you. Be aware that solicitors may ask for a deposit up front (usually 10%) and their costs usually have VAT added. Again word of mouth recommendations from friends and families are always best and shop around to make sure you get the right price.

Let us know you are ready to go!

Once this has all been sorted it’s time for us to get you the money to buy your dream home. Just let us know you are ready to proceed and we’ll get working for you. Be aware there is often a small arrangement fee to pay to set up a mortgage but you can choose to add this to your mortgage (but remember you’ll pay interest on this) or pay upfront. Don’t worry – you will have been advised of every single cost at stage one so there will no surprises along the way.

Exchange contracts with vendor

If there are no delays or problems your solicitor will be in touch to sign the contracts for the deal (keep chasing your solicitor to make this happen on your terms though!). Once signed, you are committed to go through with the purchase and you will need building insurance in place now. Contact us to advise you on the best policy for you.


There is usually a four week window between exchange and completion but not always. This is where we will support you and arrange for the money to be sent to the solicitor (who then transfers it to the seller’s solicitor) to buy your home. You may have to pay a mortgage account fee at this stage which is charged by the lender but we will advise you upfront of any fees to expect and when they will need to be paid.

Make a house your home!

Time to move in and enjoy your new home.

Bristle Mat with Home on it

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Mark Laban Financial Advisor from Derby

Mark Laban

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