Whether you’ve found your dream home or are just starting your search, you need to know how much you can afford. Contact us via email or web form to get an idea of the amount you can borrow, the deposit you’ll need, and the monthly payments you’ll be making. The mortgage product you choose will change these numbers dramatically, so exploring your options and making the right decision is crucial.
Choosing a property
Your criteria might include having a good school nearby, public transport, freeways or shopping centre.
Choosing a mortgage
A2Z Home loan will manage your entire application, taking you through the whole process from start to finish.
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You will need to provide a deposit and more attractive mortgage deals can be obtained with larger deposits. Although the deposit does not need to be paid until exchange of contracts, you will probably need to prove that you have these funds at the outset, to show the lender you are not borrowing the money from elsewhere and therefore increasing your monthly outgoings. When considering the level of deposit, you should bear in mind the other costs associated with buying a property, such as valuation costs, solicitor’s fees and potentially stamp duty.
Armed with the knowledge of how much you can borrow, it is easier to select a property when you have a price range to work within. Once you have found somewhere, you need to make a formal offer to the vendor confirming the price you are willing to pay (this is usually carried out via an estate agent). If the vendor accepts your offer, you can move on to the next stage.
When your offer has been accepted, you can return to your A2Z Home Loan to talk more specifically about the mortgage repayment type and products you require. This is a detailed process where a great deal of information is taken to assess your financial circumstances and objectives as well as your ability to support the loan. As an independent mortgage business, A2Z home loan is able to search the mortgage market and the large number of products available to select the best option for you.