Formal Mortgage Loan Offer

4. Formal Loan Offer

With a property now selected we will make a formal application to the mortgage lending institution. The difference between this step and step 1 is that at this point we will be required to submit a detailed valuation on the property you are buying.

This valuation will be carried out by a valuer representing the bank or building society from whom you will be getting your mortgage. Once this is submitted a formal loan offer will be issued to you and your solicitor.