This is one of the most popular Mortgage FAQs. From the point when we are ready to submit your mortgage application to the point when the lender produces a physical mortgage offer will average between 1 and 3 weeks. Of course, all circumstances are different, but we can confidently say in the thousands of applications we have submitted, that would be an average timescale.

A decision in principle (DIP) or acceptance in principle (AIP) is an absolute must from the time you decide you are serious about buying a property. A DIP will provide you with the comfort that if you do find your new dream home or investment property that you are ready to put an offer in immediately.

The Scottish and English system of buying property is very similar and there are steps listed below that you would look to follow:

1. Speak to your Mortgage Adviser at Stisi Group first and establish how much you can borrow. Set the monthly budget on how much you can comfortably spend each month on your mortgage and any other related costs. We can also look to obtain you a decision in principle from a mortgage lender and put you in touch with a reputable solicitor for when the time is right to put an offer in if you do not have one already.
2. Locate your new property by whichever means possible e.g. property portals like Rightmove, directly on any estate agent website, social media or a good old fashioned For Sale board.
3. Contact your solicitor and they can discuss with you what an appropriate offer might be for the new property. This can vary depending on how the property is being advertised e.g. ‘fixed price’, 'offers over', or if the property is going to a closing date where any interested party will put in a blind offer against the other parties.
4. Once you have your offer accepted it’s now time to contact your Mortgage Adviser at Stisi Group again so we can arrange to obtain all your documentation and submit your full mortgage application.
5. Once your application has been fully approved along with the valuation report, you will receive a full mortgage offer.
6. This will now allow your solicitor to take over the reigns and carry on with all the legal work behind the scenes. They will arrange entry dates to the property whilst obtaining all the necessary paperwork from you to complete everything they are required to do.
7. All that remains is that you hold on for your anticipated completion date and pay any monies over to your solicitor which are due for any deposit required. The solicitor will arrange to draw the mortgage funds down from the lender and complete the transaction by paying the other side on the day of completion (the move in day!)
8. Breathe a sigh of relief and celebrate!

Your bank only has a small suite of mortgage options to choose from at any given time and it’s statistically highly unlikely that you will be getting the best rate available. Stisi Group has access to over 12,000 mortgage products and we will always ensure we get you the best rate available from this huge range. Even the smallest of % difference on your mortgage can mean thousands in savings over the term of your mortgage. Also, there are many lenders that only lend through brokers like Stisi Group. Lenders produce many exclusive mortgage rates for companies like us.

Not an exhaustive list but the following should cover most mortgage applications that we submit:

• Proof of identification
• Proof of address
• 3 months’ payslips. 1 or more years’ worth of income proof assuming self employed e.g. accounts or Tax Computations
• Bank statements
• Proof of deposit

We have access to more than 90 lenders across the UK including all the well-known high street providers e.g. The Halifax (Lloyds Banking Group), Nationwide, Santander & The Royal Bank of Scotland along with many lenders you may not have heard of before like Darlington, Bank of China, Newbury and Shawbrook.

The cost of insurance varies based on many factors. The main factors that come into play are things like your age, smoker status, health including BMI and of course how much insurance you actually require for your needs. We will happily make some appropriate recommendations on the most appropriate types of polices that you will require.

Unfortunately, the government only offer a minimal amount of assistance for a short period of time by way of Statutory Sick Pay which is £92.05* for 28 weeks. There may be some other help available which are means tested and very variable. We will always discuss protecting your income with you as part of our recommendations. If you no longer have an income coming in then everything else around you will crumble. We will ensure you are fully protected should the worst happen. (*as @ September 2018)

Contrary to popular belief, this couldn’t be further from the truth. Insurance companies actively seek ways to make sure they can pay your insurance out when the times comes. It’s not good press for the insurance company otherwise. The number one reason insurance companies do not pay out is non-disclosure on the application. If you don’t tell the truth at the start and they find information in your medical records at claim stage, this is the point when they could reject your claim, so it’s imperative you tell the truth upfront.

We offer various types of protection. Here a list of ways we can ensure you keep your home if the worst happens:

• Life Insurance
• Critical illness cover
• Serious illness cover
• Accident & Sickness cover
• Family income benefit
• Redundancy cover
• Buildings & Contents insurance

It’s not necessary that all apply to you. Once we know more about your situation, we can discuss some recommendations.

The answer is yes. Many employers offer a death in service benefit, but you are entitled to take out a separate plan if you wish to do so. Some employers will also give you free accident and sickness insurance sometimes up to 6 or 12 months.