Receiving advice on your mortgage application

There are two ways you can apply for a mortgage with YBS

  • With advice - in branch or over the phone
  • Without advice ('execution only') - online

Getting a lending decision online without advice

If you apply for a lending decision online, this is known as an 'execution only' application, meaning that you won't be eligible to receive advice on your lending decision application. However, if at any time after you start your application you wish to receive advice you can elect to do your lending decision in one of our branches or over the phone. Our online lending decisions are also 'portable' which means once you've obtained a lending decision you can go into branch or call us to apply for your full mortgage application with the benefit of advice.

Applying for a mortgage online without advice

Our online mortgage application is also 'execution only' and is designed for those customers who have a good understanding of the mortgage application process and that have identified the product they wish to apply for. Before applying for a mortgage online you must be aware of the following:

  • The product you wish to apply for including the interest rate and term of it.
  • Interest rate type e.g. fixed, or variable.
  • The early repayment charges associated with the product
  • The price or value of the property you are looking to purchase or remortgage
  • The loan amount required of loan you wish to borrow
  • The length of term required

If you choose to proceed down the 'execution only' route without receiving any advice, we will not be able to provide guidance on any of the above throughout the application. However, you will be able to move the application to our branch or call centre channels where you can access full mortgage advice.

If you are unsure on any of the above a mortgage application with advice may be more suitable for you.

Benefits of receiving mortgage advice

A mortgage is likely to be the largest financial commitment you make in life, therefore you may benefit from speaking to one of our mortgage advisers in branch or over the phone.

A mortgage adviser will be able to review your incomings and outgoings and make a suitable mortgage term and product recommendation to suit your individual needs.

An adviser will be able to provide guidance on the following, amongst other points depending on your circumstances and needs:

  • Mortgage term
  • The Interest rate on your chosen mortgage deal vs the product fee you may have to pay for selected deals where the interest rate is lower
  • The affordability of the loan
  • If a fixed or variable rate would best suit your circumstances.
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