Our Mortgage Pledge
We're experienced
We have been advising on mortgages and insurance for nearly 30 years, and have built up a reputation and wealth of knowledge additional to our industry qualifications, that we believe allows us the privilege to help first time buyers, home movers and investment purchasers understand the home buying process.
We understand
We understand that many potential buyers are wary of what might be their biggest commitment to debt in their life and generally didn't understand the mortgage process. But we also understand that many people dream of owning their own home and we want to help make that dream come true!
You spoke, we listened!
Our Mortgage Pledge
From talking with past and present clients, it would appear that the majority of buyers wanted more support and information before and during the mortgage process; letting them know the criteria used by banks, building societies and other lending institutions, guiding them through the maze of products and applications, and in the event that they are rejected, informing them why they've been rejected and what they can do to change this.
As a result, MM Financial have developed a pledge to First Time Buyers, Home Movers and Investment buyers, to help you understand what to expect from us and how we will help you during the application process:
1.
We will let you know the criteria used to assess your mortgage application
We consider affordability, based on your income and expenditure, taking you through the different costs of owning a home and what you might expect to pay. We will explain the general criteria and any credit scoring or credit search, and how you are affected by this in the process used, for every mortgage application.
2.
When appropriate, we will provide a mortgage promise for how much you can borrow
With a whole market of different lenders to choose from it is important to willow these down to those that can really assist ‘you’, so as to avoid being checked by a variety of lenders (some lenders can leave a lasting record on your credit file which can affect your credit score). We can tell you how much you are likely to be able to borrow but a mortgage promise is a lender's pledge (subject to survey and required paperwork).
3.
If your application is unsuccessful, we'll help you understand why
We understand that sometimes not all applications are successful, but if we’re not able to obtain a mortgage promise for you we’ll always provide you with as much information as we can about why your application hasn’t been successful, and provide guidance on what you need to do to improve the chances of a successful conclusion next time or where you can get extra help.
4.
Whether your application is successful or not, we will provide you with an action plan to move forward
We’ll advise you on what you need to do to ensure your mortgage application goes through smoothly to help you through the home buying process. Whether your application is successful or not, our mortgage specialist will give you a checklist to guide you through the process and ensure you fully understand what the next steps are.
