Financial Advice – Ogilvie Homes

Financial Advice

Let's talk finance to help you get moving

The Mortgage Process

When buying your new Ogilvie home, finding the best mortgage for your circumstances is a crucial part of the process. Ogilvie recommend two Independent Mortgage Advisors – see below – they will guide you through the mortgage process and will search the whole of the mortgage market in order to provide you with the cheapest mortgage available. Their advisors are available 7 days per week with evening or weekend appointments to suit. As a client of Ogilvie Homes, the advice is completely free of charge, with no obligation whatsoever.

Kenneth Kelly
Premier Choice Mortgages
01698 276493

Tracy Telford
Mortgage Advance Centre
07706 229517

Leanna Summers
Mortgage & Protection Adviser
Summers Mortgage & Insurance Services
07954 420720


Arrange your mortgage well in advance as obtaining finance is often crucial to buying a new house.


The first stage in the mortgage process is to obtain an Approval In Principle. This means that a lender will ask you for information on your circumstances (address, income, outgoings etc.). The lender will then submit this information onto their system and the system will carry out a credit check. A credit check involves checking your credit history and payment record. When the credit check is returned (normally instantly), the lender will inform you if you have been approved or not. Lenders will differ in their lending criteria and some will lend more amounts than others. If you have been unsuccessful with one lender it does not necessarily mean that you will not be able to obtain a mortgage. You may want to obtain an approval in principle before reserving property.

Full Mortgage Application

A full application involves moving your application forward from the approval in principle stage. At this stage the lender may require documentary evidence to confirm the information you have supplied at the approval in principle stage e.g. payslips, identification etc. The lender will also require a valuation of the property to be carried out.

New build home buyers save £112 million per year

By purchasing a new home rather than an older, less energy efficient property, last year’s new build purchasers are saving 576,000 tonnes of carbon emissions meaning that they are doing their bit to reduce the country’s greenhouse gas emissions and saving themselves hundreds of pounds per year as well.

With new homes generating only around one-third of the carbon produced by the average older property each year, its impact on the environment and climate change is far lower than that of the existing housing stock.

Comparing Costs

Looking at the costs by type of property, a new:
• House is 63% cheaper to heat than its older equivalents
• Flat is 46% cheaper to heat than its older equivalents
• Bungalow is 50% cheaper to heat than its older equivalents
• Maisonette is 59% cheaper to heat than its older equivalents


With 95% of new build properties rated A-C for energy efficiency, and the majority of these rated A or B, the benefits that new build homes bring are irrefutable. Owners of new build homes use less energy, save large amounts of money on bills and considerably reduce their carbon emissions.

The Mortgage Offer

When the lender has received all the relevant documentation and they are satisfied with your application, they will issue the Mortgage Offer. A copy will be sent to yourself and a copy will be sent to your solicitor. The mortgage offer is an agreement in writing from the lender setting out the terms and conditions (monthly payments etc) of your mortgage. The mortgage offer needs to be issued before your solicitor can obtain the funds from the lender to complete your purchase. A mortgage offer will be valid for a certain period of time depending on lender. With some lenders, this will be 6 months but with others, it may be shorter. You need to ensure that the entry date for your property falls within this period. Some lenders will be able to extend their mortgage offers, given certain circumstances.

What is LBTT?

When buying a property in Scotland you will have to pay Land and Building Transaction Tax (LBTT). This is a tiered tax which means the rates differ on the different portions of the property price.