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An MIP is a statement from a lender saying they’d be willing to lend you a certain amount. It’s not a guarantee, but having one means you’re seen as a serious buyer, and it can accelerate the actual mortgage application process.
While it’s tempting to aim for the top end of your budget, it’s always wise to be realistic. Applying for a mortgage that’s within your means not only increases the likelihood of approval but ensures you can manage repayments comfortably.
Until you’ve secured your mortgage, avoid making major financial decisions such as changing jobs or taking on large debts. Lenders favour stability and any significant changes can impact their decision.
This is perhaps the most crucial step. Having an experienced mortgage advisor like those at Ascot Mortgages ensures you’re presented with the best options tailored to your needs. Our advisors stay updated with all changes in UK mortgage law, ensuring a smooth and efficient process. To start the conversation, email us at 📧 [email protected].
Securing a mortgage approval can be a swift process if you’re prepared. Ascot Mortgages is dedicated to ensuring that your mortgage journey is as smooth as possible. Let us help you make informed and empowered decisions about your mortgage’s future. After all, a property isn’t just an investment; it’s a place you call home. We look forward to assisting you on your property journey.