What Is Our Mortgage Application Process?

Application Process Blog

GIGLY always aims to make your mortgage application process as easy and straightforward as possible. So to kick off 2018 – we’ve distilled the process down to ten simple steps in an attempt to make mortgages even easier. Let’s have a look at how the application process works.

1. On-Board Yourself

Take five minutes to fill out our on-boarding form with some details about yourself and the mortgage you are looking for. This allows you to then book an appointment with our GIGLY approved mortgage advisor.

2. Your Mortgage Call

Our approved mortgage advisor will then call you at your requested time to gather further details on your mortgage preferences. This chat usually takes around thirty minutes.

3. Mortgage Research

Sit back and relax – this is the stage when your advisor researches the whole mortgage market to find the best deals for you. They’ll then call you back with some recommendations before you decide if you wish to proceed.

4. Take a DIP

If you decide to proceed, you will then obtain a Decision / Agreement in Principle (DIP/AIP). This essentially is what in theory, the lender is prepared to offer you.

5. Questions & Answers

After you have obtained a DIP, your advisor will contact you to discuss the outcome, answer any questions you might have as well as offering you advice on what happens next.

6. Lets Proceed

Should you choose to, we can proceed with your application. If the application is successful, you can move on to the step 7. If it is not successful, we would ask you to obtain a copy of your credit file and forward it to us for review. Hopefully we can work out what went wrong and help you succeed next time you apply for a mortgage.

7. Documents Galore

We now need you to send us all the documents required for a mortgage. Your advisor will tell you which ones they need, but if you ever need to double check, take a look at our document guide.

8. Application Submission

Once we have all the documents to hand, we can submit your application. Yay!

9. Property Valuation

Your lender of choice will commission a mortgage valuation (which is paid for by you). This valuation is simply to confirm the value of the property is correct and is suitable for mortgage purposes.

10. You Get A Mortgage

If your lender is happy with the valuation and all your documents, they will issue your mortgage offer and you can move in to your dream home!

 

GIGLY are always on hand to help and guide you through the mortgage process, although we cannot offer mortgage advice, we can put you in touch with our advisors who are regulated by the Financial Conduct Authority (FCA) to help find you the best mortgage available.

Call our expert independent financial advisers now!

Call 020 3582 6091 or 0141 465 7632.
Open 7 days a week until 8pm weekdays.


Photo by Victor Zissou on Pexels.