Key Steps to Customer Mortgage Journey

Provided by Trusted Novus Bank

Your mortgage journey does not have to be complicated and confusing...

Come to Trusted Novus Bank for an initial conversation and let us help you understand how mortgages work, the key steps and an indicative amount you might be able to borrow.

1 Consider

Deciding to buy a property is a big decision, one with many considerations, such as:

  • Which bank will have the best mortgage solution for me?
  • How much can I borrow
  • What do I need to know about getting a mortgage?
  • What key documents do I need to provide in order to apply for a mortgage?
  • How do mortgages work?
  • How much will it cost me?

2 Explore

  • Our Mortgage Planners can help you define your price range
  • Searching for a property to your liking and within your budget

3 Select

  • Have you found your dream home?
  • Contact our Mortgage Planners to discuss the next steps to proceed with your purchase
  • You will receive your personalised meeting summary explaining which mortgage product would suit you best based on your requirements, including fees and interest levels

4 Your offer for your new home has been accepted!

5 Approval

  • Submit your application and other relevant documents to your Mortgage Planner
  • Our Mortgage Planners will review your application and get back to you within 7 working days
  • If the application is approved, we will issue you with the loan documents; this includes a facility letter, key terms and conditions and gives you a 7-day reflection period before you accept the mortgage offer

6 Purchase

  • We will arrange for the property to be valued (surveyed)
  • At this point, you will also need a lawyer to act for you in the purchase and transfer of the property into your name
  • We will instruct lawyers to act on behalf of the Bank, and they will liaise with your lawyers to ensure all of the Bank's security formalities are in place ready for drawdown of the mortgage

7 Complete

  • Once the completion date is agreed, the deed of the mortgage is signed at your lawyer's office. The mortgage is drawndown and funds are transferred to the lawyers ready for completion of your property purchase
  • On completion day the funds are paid to the seller, the property is transferred into your name(s) and you get the keys to your new home!

We at Trusted Novus Bank want to help make your journey of buying your dream home easy, personal and out of the ordinary.

“Your home may be repossessed if you do not keep up repayments on your mortgage”

For more information about understanding mortgages contact:

Trusted Novus Bank

Trusted Novus Bank, 76, Main Street, P.O. Box 143, Gibraltar
T:+350 2000 3000 |

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