A mortgage initial chat is a free conversation with a mortgage advisor that can provide information about eligibility and how much you can borrow. The advisor can also help you determine the right mortgage for you and shop around for lenders.
Here are some things you can expect during your initial chat:

• Eligibility: The advisor can provide an idea of whether you're eligible for a mortgage.
• Borrowing capacity: The advisor can provide an estimate of how much you can borrow.
• Recommendations: It would be to early to recommend, we would need a formal appointment to make a full recommendation.
• Flexibility: The advisor can meet with you in a variety of ways, such as a home visit, virtual meeting, or phone call.

When obtaining an decision in principle (AIP) for a mortgage, you can expect to provide the following information: Details of your income and outgoings, Your addresses for the last three years, and Proof of deposit.

The application process is usually quick and easy, taking around 15 minutes. You'll also undergo a soft credit check, which won't affect your credit rating or ability to borrow in the future.

An AIP is the first step in getting a mortgage and is also known as a Mortgage Promise or a Decision in Principle. It lets you know how much you can borrow, what properties you can afford, and that you're serious about buying.

Although an AIP is not a guarantee that you'll be approved for a mortgage, it's a good idea to get one because it gives you a clear idea of what you can afford. However, you might be rejected if you have a low income, a low house deposit, or a complicated debt history.

You should submit your mortgage application after your offer on a property has been accepted.
Here are some other steps in the mortgage process:

• Determine how much you can borrow
• Get a Decision in Principle
• Provide evidence of income, identity, and current address
• Receive your mortgage offer
• Exchange contracts and completion day
• Make your first mortgage payment

The right time to apply for a mortgage depends on your individual circumstances, such as your credit history, income, employment history, and how much you have saved. You can save time and effort by consulting a mortgage adviser at the beginning of the process.

You can expect to receive a mortgage offer from a lender in two to six weeks, but it could take longer in some cases. The process involves several steps, including: Mortgage interview, Credit checks, and Home valuation.

Factors that can delay the process include: A poor credit score, Missing details, Property chain problems, and If you or your partner are self-employed.

To speed up the process, you can make sure you have all the relevant documents ready.
Before applying for a formal mortgage offer, you can get a decision in principle. This is an estimate of how much a lender is likely to lend you based on your financial situation. A decision in principle is usually valid for 30 to 90 days.

Once you have a mortgage offer, it's usually valid for three to six months. You'll need to sign and return the offer.

The exchange of contracts and completion for a property sale can happen on the same day, or it can take a few weeks to a few months:
Same day - This can happen if the seller has vacated the property, or if the property is being purchased by an investor with tenants in situ.
1–2 weeks - This is the most common time frame, and it gives everyone involved time to make arrangements for the move.
Longer - The time frame can be longer depending on the size of the chain, or if there are unforeseen circumstances. For example, a payment further up the chain failing to go through can cause delays.

The exchange of contracts is when the buyer and seller's solicitors swap documentation to signify that both parties have agreed to the sale. Completion is when the money changes hands and the buyer receives the keys to the property.
If you're buying a newbuild property, you can exchange contracts before the completion date is known. You'll usually receive at least a week's notice before the moving date.