how to get your mortgage

Taking out a mortgage is a big deal, but the process is quite straightforward.
northern rock can help you every step of the way.

  1. find out how much you can borrow from us

    Based on your salary, deposit, and monthly loan commitments we will be able to give you an idea of how much you can borrow from us.

  2. finding the right mortgage

    Have a look at our current mortgage rates to help choose the mortgage that is most suited to you.

    Once you have an idea what type of mortgage you want we’ll give you a Key Facts Illustration.

    Request your Key Facts Illustration. As northern rock is regulated by the Financial Services Authority, you must have a Key Facts Illustration before applying for your mortgage.

    Next you need an Agreement in Principle from us. This confirms that we’ll give you a mortgage and the amount we’ll lend you.

  3. applying for your mortgage

    Have an offer accepted on the property you intend to buy.

    If you’re happy with the Key Facts Illustration we’ve provided, either send your completed application form to us (together with any fees that need to be paid at the time) or hand us your application at your interview in any of our branches.

    Now wait for the results of the property valuation.

    Once we’ve made all the necessary checks, we’ll confirm whether your mortgage application has been successful. If it has, we’ll issue an Offer of Loan and a mortgage conditions booklet to both you and your solicitor. This explains the basis on which the mortgage has been granted. Your solicitor is responsible for explaining these and other related documents to you.

  4. completion

    Following the satisfactory completion of all the legal work, your solicitor will ask us to send the mortgage funds to him. If appropriate, any insurance cover or repayment plans should be started now.

    We’ll send you a completion advice which explains that your mortgage has begun. It also confirms the monthly payments that you will need to make.

    Any fees or Early Repayment Charges applicable to your mortgage deal will appear in your Key Facts Illustration. A full list of fees can be found in our Tariff of Mortgage Fees which will be sent with your Offer of Loan.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

© Northern Rock plc. 2008