A guide to the Santander First-Time Buyers Mortgage

Choosing to buy your own home is a complex and difficult decision, especially in the current economic climate. Santander's First-Time Buyers Mortgage plan, however, takes new customers by the hand and guides them through the process step by step, trying to help them find the mortgage that is ideal for them.

The first crucial step is to assess exactly how much money you can expect Santander to lend to you. While this will of course be subjected to much revision according to your own personal circumstances, a basic estimation can be gathered from the "How much can I borrow?" calculator linked to on Santander's Mortgages section online at products.santander.co.uk/mortgages.html.

The next step is to make an appointment with a mortgage representative at your local branch of Santander, where you can express your interest in the Santander First-Time Buyers Mortgage specifically, and discuss your exact options and actions.

Assuming you come to some sort of agreement, this meeting will be concluded by the representative giving you a Mortgage Certificate, which you can then show to estate agents as proof that you are indeed financially ready to buy a house, and are serious customers.

Once you find your ideal house, you should then hire a solicitor, who will mediate as you make a bid and arrange a contract. If your offer is accepted, you must then meet with your mortgage representative again and sort out the finalities of your mortgage application, and related insurance details. This will necessitate a standard Valuation for Mortgage Purposes.

When all the assessments are completed, you will be ready to put your signature on a contract confirming your intentions to buy the property, which will be followed by the transfer of the money from  Santander to the seller, via your solicitor.

After this, you're ready to move into your new home!

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