Unlocking Electronic Signature Legitimateness for Mortgage Quote Request in United Kingdom

How to eSign a document: electronic signature legitimateness for Mortgage Quote Request in United Kingdom

hiya I'm Elliot from free life financial and today I'd like to explain the mortgage application process in three minutes if this is your first time watching then please like And subscribe by clicking the Subscribe button below [Music] so the first step is to get in touch with either a bank or a mortgage advisor for the purpose of this video we'll assume that you were using me as your mortgage advisor we would have a consultation where I would explain the process step by step and it would take more than three minutes it would be a little bit more in depth and we'd also do a fact find where we would gather all of the information from you that's necessary for a mortgage application we then discuss mortgage options and insurance options like life insurance critical illness insurance and income protection and we'd only discuss those insurances briefly because we'd make those decisions a little bit later we then finish off the consultation with have a look at some of the mortgage deals available on that day those deals could change before you've actually purchased a property but it gives you an idea of possible interest rates and monthly payments I after the consultation I'd ask you to supply me with some documents the documents required will depend on your particular situation but in general it'll be three months payslips three months bank statements ID and a credit report at this stage I would get you a decision in principle this is a pre-approval from A lender it requires a credit check and it lets you know how much you might be able to borrow and at this stage we can start the property search Once you have found a property and had an offer accepted we then have another meeting where we'd confirm the mortgage details before we actually apply for the mortgage at that stage we'd also talk more in depth about the different types of insurances and with answer some medical questions to see if you could be accepted for those types of insurance once the application is submitted there's generally a bit of a waiting period the lender will check your application your documents they'll also arrange a valuation of the property if all of this is okay then they'll issue you with a mortgage offer often I'll call you to let you know that your mortgage has been accepted before you actually your mortgage offer and that's because a lot of the time it's actually posted out to you so I'll know you've been accepted before you do your mortgage offer would arrive to you and to your solicitor sometimes in the course sometimes electronically and that signals the end of your mortgage application because you've been approved from there it's more the legal size that we call conveyancing and this will be done by your solicitor or your conveyancer and hopefully it won't be too long until you're in your new home and that is the mortgage application process explained in three minutes of course it is just a brief breakdown so if you'd like any more information on the process then please just get in touch using the contact details below thank you thank you [Music]