Check out your finances

Before you go looking for your new home, find how much you can afford, what it will cost and whether it fits into your monthly budget.

Take advice from a mortgage lender or an independent mortgage broker who will be able to provide you with illustrations of payments and source the right mortgage for you.

We have our own independent mortgage advisor on site, so we can do the groundwork to source you the best deal amongst the thousand s of products on the market.

It is best to go viewing houses once you have an “agreement in principle” from a lender.

Once you know your budget contact estate agents, look at adverts and log onto property websites for the right home. Decide on the criteria, then view as many as you can. Good quality estate agents will accompany you to the viewings and will offer help and advice to find the right property.

Know Your Chain

Before you submit an offer it is best to know your chain, how long it is and how much progress each person involved has made. You are totally dependent on the quality of each member of your chain, if one person experiences a problem, it will have the knock on effect to the other parties involved too. We will always check with other estate agents that the chain is strong before submitting offers.

We will negotiate with the vendors (sellers) on your behalf until we arrive at a price you are both happy with. This may also include fixtures and fittings and making all parties aware of projected time frames.

Unsuccessful offers must always be communicated in writing.

Once your offer has been accepted you will need to instruct a solicitor or licensed conveyancer to act for you. A licensed conveyancer will do the same job as a solicitor but they specialise only in the legal transfer of property or land. We can offer you recommendations of various solicitors or conveyancers from our selected panel. Each firm is recommended on the basis they will offer prompt service, a speedy return of phone calls at a competitive fee.

Submitting your mortgage application

Within a day or so of having your offer accepted, you will need to get your mortgage application under way. This may be done at the estate agents office, at the bank or building society or on line. Either way you will normally need to pay a mortgage valuation fee.

This is a basic appraisal of the property that reports the value of the property. This can be upgraded to a Homebuyers Report. This is more comprehensive covering far greater detail. If the survey spots anything of a structural nature it will then recommend a structural report or investigation. Cash buyers will need to arrange the valuation themselves if they require one.

The mortgage lender will carry out status enquiries on you. These relate to you credit worthiness, income and other commitments. Once the lender is happy with both you and the property they will issue the formal mortgage offer.

The mortgage offer is the written offer of a mortgage on a particular house, not to be confused with an agreement in principle.

Whilst your mortgage application is being processed your solicitor will make contact with the vendors solicitor to request a draft contract. Once received, they will approve it and apply for the searches. The standard searches are the local authority and the water and drainage search. These will reveal anything that may in the future affect your enjoyment of the property you are buying.

Your solicitor will raise enquires to the vendors solicitor and once your solicitor is happy the property has good title and the right one to buy, you will be asked to sign the contract.   Your solicitor will not exchange contracts until they are fully satisfied with the legal title.

This is the point of no return. Once you have exchanged contracts, you and the seller are legally bound. A deposit is normally paid and penalties will be incurred if the sale does not complete.

The completion date, the day you actually move is set in stone at this point.

Also known as completion. This has to be a weekday and not a public holiday. This is the day that your solicitor transfers the full payment to the sellers’ solicitors. Once successfully received, the keys can be released to you.