Existing customer borrowing more - how to apply for a mortgage

Apply by Phone

You can apply for many of our mortgages over the phone. However, if you'd like to apply for one of our special offer mortgages or schemes such as our Save to Buy mortgage, you'll need to apply in your nearest Rafidain Bank branch.

The benefit of applying by phone is that you will receive advice. Your mortgage adviser will assess your situation and recommend a mortgage appropriate to your needs and circumstances.

There are a few things you can do online that may help reduce the time you spend on the phone with a Mortgage Adviser.

• Check how much you can afford to borrow with our Affordability Calculator
• Take a look at our current mortgage rates
• List details of your incomings and outgoings with our Budget Planner 
• Completing an online Decision in Principle before your appointment could save time, although you may prefer to complete this with a mortgage adviser

What information will I need to provide?

If you decide to progress to a full application you will need to provide the following:

• Income figures from your most recent payslip
• Details of outgoings. Our Budget Planner may help with this
• Information about any existing mortgages and insurance policies (home and life cover)

The full application process is normally done in 2 parts. The first part will take you to the point where you (and any joint applicant) need to read the Key Features Illustration (KFI) based on the mortgage product we have recommended. The second part takes place after all applicants can confirm they have read the Key Features Illustration (KFI).

If you have access to email while on the call, we can send you the Key Features Illustration (KFI) to read while you are on the phone.

If your application is accepted, we will need to see some documents relating to income, identity etc. Your advisor will go through this with you over the phone, and an information pack will be sent to you through the post.

Is there anything else I need to know before I call?

• You can typically expect to be on the phone for 30 – 40 minutes while making the application
• The full application process is normally done in 2 parts. The first part will take you to the point where you (and any joint applicant) need to read the Key Features Illustration. The second part takes place after all applicants can confirm they have read the Key Features Illustration
• Information about any existing mortgages and insurance policies (home and life cover)
• If you have access to email while on the call, we can send you the Key Features Illustration (KFI) to read while you are on the phone
• If your application is accepted, we will need to see some documents relating to income, identity etc. Your advisor will go through this with you over the phone, and an information pack will be sent to you through the post

Getting started

The benefit of applying in branch is that you will receive advice. Your mortgage adviser will assess your situation and recommend a mortgage appropriate to your needs and circumstances.

If you're just looking for general information we will be able to help you there and then and when you're ready to take the next step or want to receive advice from us, you will need to make an appointment to see one of our mortgage advisers.

Once you've found the branch most convenient to you by using our branch finder you can either phone or pop in to make an appointment to see a mortgage adviser.

Things you could do before your appointment

Our mortgage adviser will contact you a couple of days before your appointment to go through everything you need to know but there are a few things you could do to help save time at your interview.

• Our mortgage affordability calculator gives you an indication of how much we may be prepared to lend you.
• Completing our Budget Planner before your appointment will help to collect all the information you need in one place
• Completing an online Decision in Principle before your appointment could save time although you may prefer to complete this with a mortgage adviser

Useful things to take with you
You will need to bring the following information/documents with you when you meet with your mortgage adviser:

• Most recent pay slip
• Most recent month’s bank statement
• Documents for existing insurance policies (Home and Life insurance)
• Proof of identity/address (if you're new to Rafidain Bank)
• Last mortgage statement (If you already have a mortgage)

Please be aware: If you're making a joint application then both applicants will need to attend the appointment. The mortgage adviser will be unable to proceed if only one of you attend.

The full mortgage application

Once you've got your Decision in Principle our Mortgage Adviser will make a recommendation for a suitable mortgage product from our range. If you're buying a property and had an offer accepted, you can go on to complete your full mortgage application.

When you've chosen a mortgage product from our range (and, if you're buying a property, had an offer accepted), you can go on to complete your full mortgage application and your mortgage adviser will work through the process with you. This can be done during your first appointment or if appropriate (dependant on your requirements and circumstances) may be done at a subsequent appointment.