How to apply | YBS Commercial Mortgages | YBS
A step-by-step guide through your mortgage application, with handy tips and reminders to keep you on track.
Applying for one of our mortgage products? If you are an existing member of our broker panel then you will need to log in to our broker portal and follow the process online.
If you are not already a member of our broker panel and would like to join, please use the button below to find out more and how to join.
If you are not already a member of our broker panel and would like to join, please use the button below to find out more and how to join.
Supporting you throughout your journey
Your dedicated Relationship Director will guide you through the application process to your offer. They'll know exactly what stage your application is at and what needs to happen next. You can get in touch with them directly whenever you have any questions, or if you need some advice.
We’ve reviewed your application and issued you a Decision in Principle letter (DIP) that outlines the terms of the mortgage we intend to provide.
What you need to do next
Review the terms outlined in your DIP and let us/your broker know if you’re happy to progress with your application.
Review the list of supporting documents we’ve bullet-pointed in your DIP, return all the items requested and let us/your broker know as soon as possible if you have any queries.
It’s a good time now to appoint a solicitor if you haven’t already.
If your DIP states you’re required to provide a Guarantee, you will need another solicitor to provide Independent Legal Advice later in the process. You may wish to ask your appointed solicitor if another member of their company can provide this.
Once you’ve provided all the information requested in your DIP letter, your Relationship Director will get in touch to discuss progressing to the valuation stage.
A valuation will need to be carried out by an independent valuer.
Your Relationship Director will confirm the cost of the valuation which you’ll need to pay upfront to allow us to issue the instruction. The valuer will then make arrangements to inspect the property(ies) and produce a Valuation Report.
Please make sure you’ve provided the best contact details for arranging access to the property(ies) to prevent delays.
Once the Valuation Report has been returned, it will be reviewed by your Relationship Director who’ll be in touch to discuss the findings.
Your Relationship Director will arrange a meeting with you. This is an opportunity for us to get a further understanding of your application and answer any questions you may have.
Where there is more than one applicant for a mortgage, your Relationship Director may wish to discuss the application with one or more of the applicants. Please let us/your broker know prior to the meeting if there is a reason an applicant couldn’t be available.
At the end of the meeting your Relationship Director should be able to give you an indication of timescales for your application to be submitted to our Customer Due Diligence and Credit teams for approval.
Following your meeting your Relationship Director will make a submission to our Customer Due Diligence and Credit teams to obtain approval.
You may be asked to provide additional information at this stage to answer any queries raised by the Underwriters before formal approval is given.
Your Relationship Director will be in touch to confirm once your application has been approved.
Once your application is approved by our Credit Underwriters, you’ll be asked to make a payment of the Commitment Fee to allow us to issue your Mortgage Offer Letter and progress your application to the Legal Process.
What you need to do next
Let us know of any changes to the information you’ve provided tous before the offer letter is issued including:
Transaction details (e.g. purchase price)
Appointed solicitor details
Your contact details
Now is a good time to credit your solicitors with the funds for the legal undertaking for the Society’s solicitors, you can check this with your Relationship Director.
For most applications your solicitors will be required to provide recent full local authority searches (dated within 6 months of the completion date). These can take some timeto be produced, so it’s a good idea to get them underway with your solicitor as soon as possible.
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