On Wednesday 7th November, we celebrated Stress Awareness Day to raise awareness surrounding the importance of self-care and our well-being. And while moving home is supposed to be one of the happiest experiences of our lives, there’s no lie that it comes with a huge amount of stress. According to recent research, 1 in 4 homeowners, experience stress during the mortgage process, and more specifically, during the mortgage application.
While it’s not as simple as telling somebody ‘remain positive’, we’re here to advise you on how to take the stress out of the mortgage process.
Get to know the ins and outs
One of the most common triggers of stress in the mortgage process is not knowing how things are done and what is going on. As a consequence of this, many individuals simply decide not to bother. Whilst there are several stages to the mortgage process, it is just that – a process. And understanding the process enables applicants to feel more empowered and prepared for the following stages.
Descriptions and mortgage adverts are often packed full of confusing jargon and heavy text, making it difficult to understand. Our advice? Talk to us.
We’ll spare you the financial and property lingo and go through every stage of the process to ensure you understand exactly what’s going to happen. No stress!
Start planning early
Rushing leads to mistakes and when a mortgage application is involved, can only lead to more stress. So, do yourself a favour and plan early. Your mortgage application will need to be supported by a range of documents (we’ll advise you what’s needed) and you’ll have decisions about your property and financial future to make. Therefore, you should start planning as soon as you’re interested in buying a property so that you broadly know which direction you’re going out from the outset.
Identify all your options
The mortgage process is full of significant decisions. These decisions include budgets, the property of choice, lender and mortgage options. It’s vital that these decisions are handled with care, that’s why First Financial Solutions are here to lend a helping hand. We offer first-hand advice and guidance on the mortgage process to ensure you have all of the required information available to make the best choices for you.
Give yourself some headspace
Wondering whether your mortgage application has been accepted can lead to sleepless nights and anxiety. So, take a break. Give yourself plenty of time and headspace and remove yourself from the process from time-to-time to avoid stress.
If you have any questions or would like to discuss the mortgage process, talk to First Financial Solutions today. A member of our experienced advisers will be happy to discuss any queries you may have. To get in touch call us on 01639 262222 or click here.
**Please be aware that your property may be repossessed if you fail to keep up repayments on your mortgage.