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Tag: APPLICATION
APPLICATION
Mortgage in principle explained
A “mortgage in principle” (also known as an “agreement in principle” or “decision in principle”) in the UK is a statement from a mortgage lender indicating that they would, in theory, be willing to lend you a certain amount of money for a mortgage. It is not a formal mortgage offer, but it provides an… Read more
ESIS forms – what are they and what should they contain?
An ESIS form, or European Standardised Information Sheet, is a document provided to potential mortgage borrowers in the UK to offer a comprehensive and standardized overview of the mortgage product they are considering. The ESIS form ensures that borrowers have clear and comparable information about mortgage offers from different lenders, facilitating better-informed decisions. This form… Read more
Bankruptcy and how it affects mortgage applications
Bankruptcy can have significant implications for mortgage applications in the UK. Here’s how it typically affects the process: 1. Credit History 2. Availability of Mortgage Products 3. Deposit Requirements 4. Affordability Assessment 5. Interest Rates 6. Time Since Bankruptcy 7. Improving Credit Score Conclusion Bankruptcy can significantly impact mortgage applications in the UK, making it… Read more
High net worth customers and mortgage applications
A high net worth (HNW) customer is an individual or household with significant financial assets and wealth. While there is no universally agreed-upon definition of what constitutes a high net worth individual, they typically have substantial liquid assets, investments, and/or property holdings that far exceed the average person’s wealth. In the UK, high net worth… Read more