Found a property of your dreams but don’t know if you can afford it? Thinking about putting in an offer but need proof of funds to do it? Want to buy a property but don’t know where to start? If these are questions you have, Reeds Rains could have the answers following the launch of a new service in partnership with Embrace Financial Services (EFS). \n\nThe new service, which ‘opens the door to next gen mortgage technology’ enables buyers to find out if they will be eligible for a mortgage, how much they might be able to borrow and, importantly, could set them on the path to owning a new home. And, the great news is, it takes just 30 minutes to complete.\n\nHow does it work?\n\nEFS Financial Advisers use new market leading mortgage technology to identify mortgage lenders who will be willing to offer a mortgage to a buyer based on initial information they provide. This includes details about their job role, their income and spending habits etc. which the Financial Adviser, and then the lenders, can access before a ‘mortgage in principle’ is then offered.\n\nA mortgage in principle gives a potential buyer an idea about how much they can borrow before formally applying for a mortgage. This was something that could take at least 3 days, or longer, to gain. With the new technology, however, that is available to EFS Financial Advisers the mortgage in principle can be gained in as little as 30 minutes.\n\nThere’s no obligation for the buyer to ‘stick’ with the lender who has offered the mortgage in principle as it is not a formal mortgage offer and there may be other deals that become available over time. You’ll get the support and advice of an EFS Financial Adviser to guide you into choosing one and only when an official mortgage offer is made by a lender, to confirm that they will provide a mortgage for a specific property, will the borrower know they have a mortgage in place. \n\nWhat are the benefits?\n\n\n\tIt’s a quick and easy way to demonstrate to sellers that you’ll have the funds to buy which could, in turn, influence their decision to sell to you rather than others. It can even influence whether you can view the property in person in the first place\n\tYou’ll know how much you can afford to buy a property. In some instances, it might be more than you think\n\tIf there are potential issues in gaining a mortgage, these can be identified sooner rather than later and it gives you, and your EFS Financial Adviser, more time to address these\n\tYou’ll continue to have the support and expertise of your dedicated EFS Financial Adviser along the way and the chance for them to review a whole range of mortgage deals on offer; many of which are from well-known high street lenders or who offer special exclusive deals only to EFS.\n\n\nWhat to do next?\n\nIf you are interested in the new service, simply contact EFS here to book an appointment or visit one of our branches for further information; remembering that we can also help you in finding a property, arrange viewings and work alongside EFS to help you in getting that home of your dreams.