Mortgage applications to first day – Keeping stress free when buying your first home

Family moving into a new house

When you are ready to go for your first mortgage application you will find plenty of advice on our site about what we need to see. What you tend to see less about is how to realistically budget for the period between preparing for your mortgage application and being settled in your own home. Here are a few tips and things to think about while you are on the journey to settling down in your new home.

From mortgage application to the first night in your new home.

Buying a house doesn’t happen overnight. There can be a variable time lag between making your decision to buy, getting your mortgage approved and settling into your new home. Our focus is making sure your mortgage application goes smoothly and you get the best deal possible. Naturally, we are happy to talk you through what you need to do to make that happen. However, while it isn’t actually part of the mortgage application as such, we know the circumstances around moving can be a little bit difficult to negotiate at times. So, we thought as well as mortgage advice you may like a few suggestions on what to do between offer and moving in to make the process a little less stressful.

Just as a reminder, here is the short list of what we will need from you for your application. We will usually need to have:

  • Proof of income – payslips or self-employment information for example.
  • Bank statements – these are to support your proof of income and other finances.
  • Proof of address – utility bills, bank statements, council tax bills for example.
  • Your expenses – these need to be honest and accurate.
  • Proof of deposit – There are some rules around where your deposit comes from that we need to make you aware of.

The best option for getting the best out of your application is to talk the above though with us as soon as you are ready to look for a mortgage.

Before, during and after your application

The best thing about being a mortgage advisor is seeing people get on the property ladder for the first time. Helping someone out of renting or living with parents and into their own home is absolutely the best feeling. Sometimes though people get caught up in the mortgage application and search for a home and forget some of the small things. You know how it is when you really want something, you want it to happen as soon as possible. Unfortunately, buying a home, isn’t like checking out at a supermarket. It takes time and as much as you try to be patient, it can still feel like a long wait for applications to go through and the process of buying a house to reach completion.

The last thing you want in the middle of that is little niggles to stress you out. So, here are a few suggestions that may make the process less stressful.

Before you apply

  • Get your paperwork in order by asking us what you will need.
  • Give yourself time to gather the information.
  • Be realistic and understand the expected timescales to completion.

Once you mortgage is approved

  • Check with your estate agent about progress regularly.
  • Be prepared for delays if there is a chain of sale.
  • Similarly, if you are buying a new build, sometimes bad weather, staff shortages, supply issues and so on can cause delays.
  • Keep on top of your day to day finances. It’s easy to plan for moving and accidentally let your current finances slip. You will be much happier when you move in if everything is up to date.
  • Budget for your moving day. Remember things like packing materials and change of address costs such as post redirection.
  • Don’t forget your home insurance will need to start from day one. Get the details of security, locks, alarms and so on for your new home as soon as you can.
  • Arrange for comforts on your first day. The last thing you need will be to flop down for a break in the middle of moving and not know where the kettle is. Do some meal planning as well, try not to live on takeaways.
  • Arrange your utilities and any other services you need.
  • Try to get doctors, dentists, childcare, pet walking and so on ready to go in advance. That includes you emergency contacts for work.
  • Where is your tool kit? If you have one, trust me, keep it handy!
  • Make sure important documents, medications, or anything you may need urgently are to hand.

Preparing for your mortgage application is just the beginning of your exciting journey towards homeownership. At The Online Mortgage Guru, we’re here to guide you through the mortgage application process, ensuring it goes smoothly and you secure the best deal. But we also understand that the period between your application and moving into your new home can be filled with anticipation and, at times, stress. That’s why we’ve shared these valuable tips to help you navigate this transitional phase more comfortably. Remember, the more prepared you are, the smoother the transition will be. So, let’s work together to secure your dream home. Reach out to us today to discuss your mortgage options and take the next step towards owning your own home.

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