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Know Your Budget
It is important to know how much you have to spend before you start looking. Speaking to a mortgage provider will give you some guidance as to what your maximum budget could be. A good advisor will review your financial situation, assess your affordability and provide you with the options available and full illustrations on the amount you can borrow, deposit requirements and subsequent monthly mortgage payments.
Your Search
A great place to start is the internet. Register your contact details and property requirements with us to receive regular updates with suitable properties as soon as they come on to the market. If you are looking for advice or further guidance, you can call us or call into one of our six branches. Booking viewings couldn’t be simpler and we advise you to arrange these promptly as good homes don’t stay on the market for long.
Making An Offer
You have found the right property, it is time to put in an offer make it your home. The more information we have about your current property situation, the more we can help negotiate a great price. We will present your offer to the vendor both verbally and in writing and will keep you fully informed. Don’t be disappointed if your first offer is rejected, sales often go through two or three rounds before a price is agreed. You will need to prove you are in a position to proceed financially and until the contracts are signed there are no legal obligations.
Having Your Offer Accepted
Once the offer has been accepted, we write to all parties detailing the agreed offer and any terms and conditions. Acting swiftly and promptly from this stage on-wards is key, we will assist wherever we can to keep the sale moving.
The Legal Side
Choosing the right legal representation is key, you want a fast and efficient house purchase. You can either use a solicitor or a conveyancer – they are both fully regulated and insured. However, if you choose the latter they are specialist property lawyers specialising in property sales, managing transactions like yours. Speak to us.
The Essential Paperwork
Before the official conveyancing process can start, there are a number of forms that need to be completed which will be sent to you by your solicitor. These will include proof of identification, your mortgage provider and proof of funds. Completing and returning these quickly advised to keep the sale moving forward. You will need to complete your formal mortgage application, now the survey’s can be booked.
Getting Your Home Surveyed
Your mortgage application is now submitted, you will need to decide the type of survey you need. These range from the basic mortgage valuation, to a homebuyers report then up to a full structural survey. With older properties, a full survey could save you a lot of money and heartache in the long run. The surveyor will report their findings back to the lender, who then use this information to issue a mortgage offer.
Exchange
All parties are happy, all enquiries have been dealt with and all the paperwork is complete, now the contract will then be issued. A completion date is agreed. From there, once the contract has been signed and you have your mortgage offer, you must transfer your deposit to your solicitor. Upon receiving your funds, exchange can now take place.
Completion
All outstanding monies must be paid to your solicitor. They will inform both us and yourselves when this has happened, all that I is left to do is hand you the keys to your new home. Congratulations, you’re a new home owner!
