We will provide 30-minute initial consultation to understand your circumstances and needs, and give you basic introduction of mortgage market and possible solution.
We will also at the same time require necessary documents from you in order to fulfil our due diligence responsibility.
After we receive your fact find form and documents, and within 1-2 working days, we will source the best mortgage product and send you a European Standardised Information Sheet (EISI), formerly called mortgage illustration. It will tell you all the details about the mortgage product. You can adjust your preferences and request for new EISI based on your new preferences.
Once you agree to proceed on a product, we will send you the mortgage service contract for you to sign.
After we receive your signature on the mortgage service contract, within 1-2 working days, we will request for decision in principle (DIP).
Upon successful DIP and receipt of your payment of fee (if applicable), within 2 working days, we will submit the full application. If DIP is not successful, we will discuss with you about further action.
After application is submitted, we will keep communication open with lender and will feedback to you on the progress. Before lender make decision, we will normally do below:
If lender requests new information we don’t have, we will contact you to request it immediately.
If lender requests new information we already have, we will not contact you but proceed with lender immediately.
If lender has no update, we will chase up every 3 working days and will notify you weekly by email or WhatsApp or WeChat app by your preferences.
We will update you immediately when lender has decision; we will send offer or decision to you.
After offer is provided, we will action upon request from your solicitor to facilitate the property transaction.
A mortgage application usually takes:
1-2 weeks, if your fact find is accurate and documents are sufficient and valuation is fast;
3-5 weeks, which is average time;
6-8 weeks, if your case is complicated or due to other unexpected circumstance, such as: Covid-19.
Therefore you should allow yourself enough time for the mortgage application.
Valuation is done by independent third-party survey company appointed by lender. Property value, rent and property nature are assessed and defined by the survey company. Lender will make decision based on their assessment.