Most mortgage lenders will let you know that they are willing to offer you a mortgage up to a certain level as you start looking; this is called a mortgage in principal and will depend on your income? The application is finalised upon deciding which house you want to buy. However, it is still possible to sort it all out once your offer has been accepted.
The total amount of revenue you are allowed will depend on your income, who you are buying a home with (if you are buying a home alone then this is self explanatory,) a partner, friend or an associate. These factors will all contribute to the amount you can borrow. There are a number of ways to find a mortgage. The two best and well known ways are, Direct through a bank or building society, or a mortgage broker. These two ways can be done either, over the phone, on the internet and in person. As this is probably the largest purchase of your life, I do like to speak to someone face to face, this way you can ask as many questions as you see fit.
Some people feel save and more comfortable obtaining a mortgage from a high street name, and also find it convenient to have their mortgage with the same bank they have their other financial dealings with e.g. Direct debits and personal accounts. Alternatively, going through a mortgage broker does ensure you get a choice of a wider range of mortgage products and deals. Always be absolutely clear of what charges they will make for their services.
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