Home Mover

Mortgage Service

Home movers and first-time buyers have different characteristics and often face different challenges. Here are the salient points around home movers:

Equity and Deposit: Home movers often have existing equity in their current property. This equity can be used as a deposit for the new home, which can help secure better mortgage rates.
Porting a Mortgage: Some home movers may have the option to “port” their existing mortgage to the new property. This means transferring their current mortgage deal to the new home, which could be beneficial if they are on a favourable rate.
Affordability Assessments: Lenders will conduct affordability assessments to ensure that the borrower can manage the new mortgage payments. This includes evaluating income, expenses, and any existing debt.
Bridging Loans: In cases where there is a gap between the sale of the current property and the purchase of the new one, home movers might consider a bridging loan. This short-term loan helps cover the financial gap until the sale is completed.
Remortgaging: Home movers might choose to remortgage their current property to release equity before moving. This can provide additional funds for the new purchase or renovations.

Property Chain Management: Estate agents play a important role in managing property chains. They coordinate the sale of the current property and the purchase of the new one, ensuring all transactions align smoothly. It is very important to select a good estate agent.
Valuation and Marketing: Estate agents assist home movers in accurately valuing their current property and marketing it effectively to attract potential buyers.
Negotiation: Estate agents negotiate on behalf of the home movers to secure the best possible price for both the sale of the current property and the purchase of the new one. When making an offer to buy it a home mover ideally needs to be under offer before making a commitment to buy another property if the equity from their property is being used towards the deposit for the onward purchase.
Viewings and Offers: Estate agents organize viewings for the current property and help the home movers arrange viewings for potential new homes. They also handle offers and counteroffers.
Legal and Administrative Support: Estate agents provide support with the legal and administrative aspects of the property transactions, ensuring all paperwork is completed accurately and timely. They will also request evidence of a purchaser’s ability to buy.

Expertise: With an in-depth knowledge of the mortgage market and being able to provide expert advice tailored to the home mover’s unique circumstances.
Access to Multiple Lenders: As your adviser having access to a wide range of mortgage products from various lenders, including exclusive deals not available directly to the public.
Time-Saving: handling the paperwork and liaise with lenders, saving you the home mover time and reducing stress levels.
Personalized Service: The Amazing Mortgage Solutions adviser will provide a personalized service, ensuring that the home mover receives guidance that aligns with their financial needs and property goals.
Trusted : Trust between a mortgage adviser and their client is built through expertise, transparent communication, personalized service, professional conduct, accessibility, independent advice, and ongoing support. Advisers offer clear explanations, honest assessments, and tailored solutions while handling clients’ personal and financial information confidentially.

Initial Consultation: Arrange a meeting with a mortgage adviser to discuss your current financial situation, property goals, and any specific needs.
Financial Review: The adviser will review your financial documents, such as income statements, credit reports, and details of your current mortgage.
Mortgage Options: The adviser will present various mortgage options, explaining the pros and cons of each.
Application and Approval: Once a mortgage product is selected, the adviser will assist with the application process and communicate with the lender until the mortgage is approved.
Protection solutions for mortgage and lifestyle:These are essential for mortgage customers to ensure financial stability and peace of mind. They provide coverage for life events such as illness, injury, unemployment, or death, helping customers meet their mortgage payments and maintain their lifestyle during challenging times.

By leveraging the expertise of a mortgage adviser, home movers can navigate the complex process of buying a new home with confidence and ease.

If you need more specific details or have any questions, feel free to ask!

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