Fast mortgage approval for First-time buyer in just 5 days
Fast mortgage approval in five working days for First-time buyer.
1.51% 5-year fixed rate.
£1,700,000 property value, client borrowing £1,273,500.
Our client, a First-time buyer in rented accommodation, had an offer accepted on his first home. He needed to move fast to get a mortgage offer quickly, without sacrificing speed for a competitive rate.
What was needed?
The client was a First-time buyer purchasing his main residence. He was looking for a broker who would guarantee to get him a fast mortgage approval within 2 weeks and ideally within 1 week.
What was the challenge?
The client’s rental tenancy was coming to an end, so he wanted to get everything in place to move when it terminated. If not, he’d have to try and extend his tenancy temporarily or find somewhere else to live short term. This would cause the client hassle and extra costs which he wished to avoid.
To get fast mortgage approval a broker needs have an in-depth knowledge of which lenders match the client’s profile. Plus they need to know who to contact within a lender to fast-track the application.
All the relevant financial and identification information needs to be obtained from the client. This has to be in the correct form, and the case submitted correctly for the lender to positively assess affordability without query.
How we provided the solution
Raj Bhojani, Senior Associate at Rose Capital Partners, spoke with the client to discover his circumstances and needs. He researched the market, and after speaking with his direct contacts within lenders, guaranteed to the client that he would have a mortgage offer for him in 2 weeks. Also Raj further agreed to make the broker fee payable on completion rather than the more usual offer stage as a good-will gesture.
Raj worked closely with his Case Manager, Amber West to submit the case correctly to the lender. They progressed it quickly to mortgage offer stage, without queries arising or sacrificing the quality of the mortgage offer.
The client was delighted as he got the mortgage offer at an excellent rate within 5 working days. He was able to exchange quickly, and so to complete in time to coincide with end of his rental tenancy.
What was the rate
The rate was 1.51% fixed for 5 years, with a £999 lender fee and a free valuation.
Why people choose Rose Capital Partners
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Your property may be repossessed if you do not keep up repayments on your mortgage.
This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
Rose Capital Partners Limited is an appointed representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority.