Hello all,
I am sure the answer might be out there but I cannot find it.
I have been approaching the banks re: mortgage approval. There has been some variation in their requirements etc but they all seem to only be giving this 'approval in principle' only based on the information I give them and not a thorough review of my paperwork (i.e. the approval is not worth the paper it is written on, particularly given that I am self-employed hence a lot of paperwork would need to be reviewed).
They have been more or less been saying that I should put in for a full application only when I have a specific property in mind and want to bid.
Now...I find this unsettling and confusing as it seems crazy to find a place with the possibility of still being turned down.
Can I submit a full application without having a property in mind?
Any help to try and clarify the process for me would be most welcome!
I am sure the answer might be out there but I cannot find it.
I have been approaching the banks re: mortgage approval. There has been some variation in their requirements etc but they all seem to only be giving this 'approval in principle' only based on the information I give them and not a thorough review of my paperwork (i.e. the approval is not worth the paper it is written on, particularly given that I am self-employed hence a lot of paperwork would need to be reviewed).
They have been more or less been saying that I should put in for a full application only when I have a specific property in mind and want to bid.
Now...I find this unsettling and confusing as it seems crazy to find a place with the possibility of still being turned down.
Can I submit a full application without having a property in mind?
Any help to try and clarify the process for me would be most welcome!