Can anyone explain to me

vinmenyaniv · Joined: 12 Jun 2007 Posts: 2 1.81 Dollars($)

Can anyone explain to me the complete end to end process of loan origination in UK mortgage market?

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Well vinmenyaniv, I am not much aware of the UK market. Basically I am in the US mortgage market. May be some other members would be able to provide you some details.

Miller

Samantha · Posted: Wed Jun 13, 2007 5:05 am Post subject: RE: home loan process in UK

Hi vinmenyaniv,

Welcome to the forum.

The mortgage process in the UK is almost similar to that of in US. However, the fees and the costs may differ to some extent and there can be slight changes in the process. Here's the process in a few simple steps:

First of all, you need to start shopping for a loan. Approach various lenders and collect information – types of loan programs they can offer you, the rates and costs of borrowing etc.
Collect the information and make necessary calculations regarding the monthly payments on each type of loan.
Compare the payments and also the costs of each loan.
Select the lender requiring you to pay the least as far as the total payment and the costs are concerned. Also, check the lender's background, the testimonials provided by his clients and his reliability.

Hope this helps you to some extent.

God bless you.

Samantha

jameshogg · Posted: Wed Jun 13, 2007 5:18 am Post subject: RE: UK loan process

Hi Vinmenianiv,

For a complete end to end process of the loan origination, you may refer to the pages in the Loan process section of the Guide prepared by this community. And, if you're interested in working out the figures, then try out the mortgage calculators available here.

Keep in touch for further queries Smile

Thanks

adonis · Posted: Wed Jun 13, 2007 5:23 am Post subject:

Vinmen,

i'm not quite ware of how loans are originated in Uk, but you can get some information from http://www.moneymadeclear.fsa.gov.uk/products_explained/shopping_aroun d.html .

vinmenyaniv · Joined: 12 Jun 2007 Posts: 2 1.81 Dollars($)

It would as well suffice if some one lets me understand the Loan Origination Process in US mortgage market as well.

adonis · Posted: Thu Jun 14, 2007 9:39 pm Post subject:

Welcome back Vinmen,

The loan process in US involves simple steps as given at http://www.mortgagefit.com/apply.html .

Hope this will surely help you.

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