Viewing properties can be time-consuming. We recommend that before starting to look for a house, you find out how much money you can borrow and whether it is affordable. This will ensure you focus your time on viewing the right properties within your budget.

When choosing a mortgage there are many factors that must be taken into consideration. In addition to the interest rate and setting up costs, you must also take into account the redemption penalties, exit costs, lenders’ criteria and property construction. To be confident that you have thoroughly researched the market and exhausted all options available, requires the experience and knowledge of a professional mortgage adviser.

Downton & Ali Associates will review your income, expenditure and mortgage affordability. We will use this information with our widespread knowledge of the mortgage market, to find the most appropriate and competitive lender for your property buying requirements.

The type of property you choose to purchase is very important. Lenders have restrictions on the construction, size and style. Surveyors will determine if the property is suitable for mortgage purposes but by seeking the correct advice initially, you can reduce the risk of wasting money on survey fees from approaching the wrong lenders. If you intend to purchase a studio flat, a flat in a high rise building or a property of unusual construction, then we recommend you contact a Downton & Ali mortgage specialist, we can then advise you on the options and lenders available.

An agreement in principle is the initial stage of a mortgage application. It will establish if you meet the lender’s criteria. Each agreement in principle may involve a credit score. A lot of credit scores can damage your credit rating and impair your ability to obtain a mortgage.

Having an agreement in principle before you go house hunting can be a big advantage, if a seller is faced with two offers they may be more likely to accept the one from a buyer who has an agreement in principle.

With your consent, Downton & Ali Associates will only apply for an agreement in principle once we have established the most suitable mortgage from a comprehensive range of mortgage lenders across the market. We will take the stress away from finding the right mortgage, avoiding unnecessary credit scores. Our recommendations will be based on the lender’s criteria, products available, your personal circumstances and financial objectives.

To purchase a property or change a mortgage to another lender, a solicitor will need to be instructed to complete the legal procedures. Some mortgage products offer a free legal service or a cash back incentive to reduce your legal fees.

Downton & Ali Associates can advise if the lender offers any legal assistance, or if it is necessary to instruct an independent firm of solicitors. We have associations with local and national firms of solicitors that we can introduce you to.

Conveyancing is not regulated by the Financial Conduct Authority.