The entire process was painless, the service was unsurpassed – being contacted frequently and offered assistance and guidance along the way - and We know Mortgages certainly know how to identify the needs of their clients and assist them in every way!
I would highly recommend their services to anyone at any time!
Marlene Nicholls (London)
I found this company really easy to deal with. Their consultants are very professional and extremely helpful. Nothing is too much trouble and they are always trying to give you the best price but using reputable companies. I highly recommend them for any policies you might need. Thank you! Maria
Maria Marco (Lancaster)
I can highly recommend 'We Know Mortgages Ltd'. I purchased life insurance with Aviva. No hassle, straight forward and a good price too! The service was very professional and I would use them again.
Clare Robinson (Preston)
The service from We Know Mortgages comes second to none! From initial consultation to contract exchange the communication, assistance and advise from We Know Mortgages was fantastic. The portfolio of products available through We Know Mortgages is extensive saving me time and money. I fully endorse their service and would recommend We Know Mortgages to anyone looking for a mortgage, insurance or life cover.
Mark Merry (Preston)
There are three types of mortgage valuations/surveys an applicant can choose from:
At the initial stages of the mortgage application, the minimum requirement is to carry out a basic mortgage valuation. This can costs up to £150 with an addition administration fee charged by mortgage lenders. Some lenders will offer free basic valuations.
This type of valuation is for lenders only and in some instances a copy of the report may not be forwarded to the applicants. The majority of applicants rely on this basic lenders valuation however We Know Mortgages would advise a more detailed survey done before purchasing the property. The age of the property should be taken into consideration.
A homebuyers survey is a standard format set out by the ‘Royal Institution of Chartered Surveyors’ and is most suitable for properties built within the last 150 years and in generally sound condition.
The report can cost from £150-£500 and most mortgage lenders can arrange this type of report. The cost of the report depends on the mortgage lender and price of the property.
The applicants definitely gain a copy of the homebuyer’s report which should give a good indication of the state of property and its level of repair and maintenance.
Full Structural Reports
The most thorough of reports is a full structural inspection of the property. It is suitable for all properties especially listed buildings, older properties, buildings constructed in an unusual way, properties that are planned to alter or that have extensive alterations.
The report can consist of 20 pages and should on top of other reports include an inspection on gas, drainage and electrical systems.
It is common to instruct this report separately from the basic valuations. These types of reports usually cost from £400 to £1000.
Should I go for a basic valuation or structural report?
Buying a property is an expensive process taking conveyancing, arrangement fees and deposits into considerations. It’s natural for most applicants to keep their costs to the minimum. Most applicants would therefore favour a basic valuation due to costs.
On unusual properties, we will advise applicants on full structural reports. A basic valuation is a big gamble. Spending approximately £700 may initially seem steep but then again may seem very cheap if the report was to find major fault or restructuring required to the property. These reports are independent and are carried out prior to ‘exchange of contract’ and gives time to the purchaser to make decisions.
Therefore, we would advise applicants as a minimum to carry out a Homebuyers Report. If applicants opt on a basic valuation, we would make them aware that this is for lenders benefits only.
Will writing and Trusts are not regulated by the Financial Conduct Authority.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.