EXPAT MORTGAGES - AGREEMENTS IN PRINCIPLE

We increasingly find that our expatriate enquirers are being put at a disadvantage by the lack of proof of available funds. We recently had a national housebuilder – Barratts – who effectively gazumped one of our clients because he did not have a formal mortgage offer. This was despite the fact that he had a very firm Acceptance in Principle from the lender. Other applicants had been told that they must have a piece of paper that proves they have their funds in place. It is no wonder that estate agents suffer the public opprobrium that they do!

International Mortgage Plans (IMP) are able to put in place pre-approved mortgage agreement within 48/72 hours. There is no commitment to use these funds if applicants should find a better alternative, but it does mean they will have that all important piece of paper to show vendors and/or agents. Acceptance in Principle (AIP) can be gained by completion of Part 1 of a very lengthy application form. These forms now run to 20+ pages, and daunting as they are, thankfully most pages can be ignored or left blank and many questions invite the answer ‘not applicable’ – n/a. IMP will check applications looking for possible anomalies and submit to the lender for ‘in principle’ approval which should take no more than 48/72 hours.

Our charge for this service is £195, but this fee would be offset against any other fees required by a full application when a suitable property has been identified. At that time the supporting documents and valuation instructions would be required. Completion of the pro forma entitled ‘Online Enquiry Form’ from our website will enable us to make an initial assessment that an agreement would be achievable.

Mortgage Enquiry Form      Back to IMP Homepage