"Fully satisfied, genuinely helpful and friendly, would without doubt recommend Shire Direct, thank you."
Mr & Mrs C., Liversedge, West Yorkshire
our online Mortgage Guide - Page 11 of 14:
The next step will be the instruction of the property valuation. This is to determine that the property will act as suitable security for the mortgage loan, and there are three types of property valuation to choose from:
Which one should you choose, and why?
Well, it depends on the property you are looking to buy. For a comprehensive look at the different types of property valuations available, and which one is likely to suit you best we've prepared a page in our Mortgage Glossary which we hope you will find to be helpful...
Once these procedures have been carried out to the satisfaction of the mortgage lenders, and they are prepared to provide you with the funding your require, they will issue a formal Offer of Mortgage.
At the same time, a copy will be forwarded to your solicitor, along with the lender's instructions. It's then over to your legal representation in order that the conveyancing procedures can be completed.
Speaking of the legal work involved in a mortgage, that's our next topic, don't worry it's not quite as frightening as it sounds, and it's the solicitors role to take care of it all.
NEXT: The legal work involved in a mortgage ›
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Claim £100 worth of Argos Vouchers upon completion of your transaction throughout 2008. Terms and conditions apply - see our Vouchers Special Offer page for full details.
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.