Within a few minutes, the lender gives her a document stating that they are prepared to lend her a specific amount (e.g.,
The lender does a quick credit check to see if she is likely to be accepted. Principle 6.28
This isn't a final loan offer, but it is a vital document. It shows sellers that Sarah is a serious buyer, making her offer stronger than someone without one. Within a few minutes, the lender gives her
Sarah submits her financial details (income, debts, savings) to a lender. Within a few minutes
With this in hand, she can start her formal application and confidently proceed with her solicitor as discussed further in the video.