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Next Steps On The Road To Arranging
A Mortgage
Once you have decided on your choice of lender, mortgage
rate and product type, you will need to overcome the
small matter of applying for the mortgage. The first
stage in this process, is getting an agreement in principle,
but in order to be able to do this, you have to first
decide how much you can afford to borrow and establish
how much a lender is willing to advance.
Knowing how much to spend on a new home can actually
be quite complicated. To start with, you could ask ten
different lenders how much you can borrow and end up
with ten different answers. Add to that the whole range
of costs involved in buying, selling and moving and
it can be quite tricky to come up with anything other
than a ballpark figure for your property purchase.
To help establish how much you can borrow and how much
you can afford either go directly to the
calculators section in order to work out your budgets, or read through
the sections listed below:
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