1. ARRANGE A MORTGAGE
Before you start your search for the perfect property, we would strongly advise that you get your finances arranged. Whilst you bank or building society will no-doubt be offering you a 'great deal', it is best to speak to an independent mortgage advisor who has access to all the options across all of the lenders - including the banks and building societies. They will be able to help you determine how much you can afford and search for deals suited to you. Don’t forget to keep money aside for the Stamp Duty or Land Transaction Tax as well. See our guide to Stamp Duty & Land Transaction Tax.
2. START SEARCHING
It's great to search on the property websites, but don’t forget to call us or come and visit us in person to discuss your specific needs. We will inform you as soon as a property that may be suitable becomes available via email - before the property search websites!
3. ARRANGE SOME VIEWINGS
We accompany all viewings and at a time to suit you. To be in with the best chance of securing a property we recommend viewing as soon as you can.
4. INSTRUCT A SOLICITOR
It is advisable to find a solicitor before you find your ideal property so that you are ready to go! Choose a local solicitor or legal specialist that specialises in conveyancing. This conveyancer will ensure that all the relevant paperwork is in order. If you would like any help in choosing your conveyancer/property solicitor, please contact us. We only recommend solicitors we trust to do an excellent job and who work with us to keep your move as stress-free as possible.
5. MAKE AN OFFER
You’ve found a property you definitely want to buy. Don’t waste time in making an offer. If you love the property the chances are someone else will too! Make sure you put forward your buying position along with your offer as this is crucial for putting your best foot forward. If your first offer is declined don’t be concerned as buying property is all about negotiation.
6. OFFER AGREED
Once your offer is accepted, you will need to demonstrate your 'proof of funding' to prove that you have the finances available to commit to the purchase. Once the selling agent is satisfied, they will issue all parties with a memorandum of sale which will include the agreed selling price as well as all solicitor details. At this stage most buyers will employ a surveyor to carry out a more in-depth survey. The most popular types of survey are a homebuyer’s report or a building survey – see our guide on surveys.
Your solicitor will raise any enquiries on receipt of the draft contract from the seller’s solicitors. They will request local searches and agree on a date for exchange of contracts. See our guide to conveyancing.
8. MORTGAGE OFFER
Your mortgage company will arrange a mortgage valuation to be carried out. When this is done and deemed acceptable, they will issue a mortgage offer.
Exchange will take place when all parties are happy and any issues raised are resolved. A deposit will be paid to the seller’s solicitors (usually 10% of the purchase price) and a completion date is set. This is now a legally binding contract between the seller and you.
When all the monies have been received then legal completion takes place and you can get your keys!