Lost in the mortgage maze?
Another email which might be of interest to anyone lost in the complexities of a mortgage application…
My correspondent asks: ‘I have been sent the contract for my records, does this mean we are nearly there or is it just one of the steps’�
Unfortunately, the answer is a rather unhelpful: it depends on exactly what you’ve been sent.
If your application has been going on for a few weeks, it may be your final offer, which means you’re all set to go.
But if you’re still in the early stages, it could just be an initial quote or cost summary.
The only way to know for sure is to read it carefully, and if you’re still unsure, check with your adviser or mortgage provider.
Read on for more information to help you understand the home buying and mortgage process.
