While it's easy to get caught up in the excitement of house hunting, it's crucial to first figure out your financing options. It's a good idea to have an agreement in principle from your lender before you start looking at properties. An agreement in principle, also known as a ‘mortgage promise' or a 'decision in principle,' is a certificate from your mortgage provider that indicates the maximum amount you can borrow. These are good for anywhere from 30 to 90 days. While it isn't an official offer from your lender, it provides you a good sense of your budget and shows sellers that you're serious about buying their property and can afford the house being sold if they were to accept your offer. At Virtuous we are able to provide you with an Agreement in Principle within 24-48 hours of receiving all relevant documents. How's that for efficiency!

When it comes to securing a mortgage, there is no set timeline for your application to be granted. Although most borrowers can expect to wait around 18 to 40 days between submitting an application and getting a mortgage offer, it could take much longer. Before rushing into putting an offer on a home, it's critical to get your mortgage application completed as soon as possible

Your credit score is a financial CV that lenders will review before determining whether or not to lend to you. You face the risk of having more challenges with your application if your credit is bad. It's critical to verify your credit score before applying so that you can repair any mistakes on your record and get your credit rating in the best possible shape. Even if you have a bad credit history, such as defaults or County Court Judgments (CCJs), Virtuous are still able to help you with strategies into how to obtain a mortgage.

Checking the electoral roll is one of the simplest ways for a lender to verify your identification, so make sure you register. If you don't, it's possible that your application will take longer to process. Furthermore, it is possible that your credit score will suffer as a result. The process of becoming a member of the electoral roll is simple. You only need to complete a brief application on GOV.UK.

Although your home will be the most expensive item, the cost of purchasing a home includes a lot more. Additional expenses to consider include obtaining a valuation, legal fees, house survey fees, and conveyancing fees. You should also think about the household expenditures you'll have to pay as a homeowner, such as contents insurance, building insurance, and council tax. It's critical to assess how much money you'll need to cover these expenses so you don't get caught off guard. At Virtuous we have a holist approach to obtaining your mortgage. We work with a wide network of providers that will cover you from the mortgage itself all the way to the buildings insurance, at competitive rates.