Due Diligence
Due diligence is a process that will be undertaken by a mortgage lender to cover the process of discovery into the risks and value of a property that is to be purchased.
The risk of lending you the substantial amount of money required to purchase a house is therefore minimised.
The usual application form involves checking your personal details/ status
and that of the property you wish to buy. This process usually takes place
after an offer has been made and accepted, but prior to closing.
Click for more mortgage glossary terms relating to remortgaging.