Check Your Budget
Before commencing your home search, we highly recommend engaging with an independent mortgage advisor. They can assess your budget and guide you towards the most suitable mortgage products for your unique situation.
While online calculators can offer some insights, obtaining an agreement in principle holds significant weight when making an offer. It not only provides assurance that a bank has assessed your financial situation but also strengthens your position as a serious buyer. Additionally, it's essential to consider other associated costs such as stamp duty, legal fees, and potential mortgage arrangement fees.
If you require assistance with this process, we're here to help. We can connect you with an independent mortgage advisor who can offer expert free advice.
What type of property/area is right for me?
Now that you've established your budget, it's time to explore areas that align with your priorities and envision where you see yourself living. We suggest taking the time to drive around locally, as it can help you narrow down specific locations within the area that suit your needs.
In addition to location, consider the type of property that suits your lifestyle. Are you leaning towards a leasehold apartment or a freehold house? Are you looking to have a garden or prefer a property without one? Perhaps you're contemplating between a semi-detached or detached home. With various types of properties available, consulting with a knowledgeable local agent can aid you in determining which option best suits your needs and preferences.
Arrange viewings for homes you would like to see
Once you've made your decision regarding the area and type of home you're interested in, it's time for the exciting part—viewing properties! We advise keeping an open mind during this process, as your preferences may evolve as you explore different homes.
To streamline your search, be sure to register with estate agents who specialise in your preferred areas. This way, they can promptly notify you via email or phone about new properties hitting the market.
Stay updated by subscribing to our social media channels, as we love to provide sneak peeks of our upcoming listings.
Viewing multiple homes will not only give you a better understanding of what's important to you but also enable you to make informed comparisons when it's time to make an offer.
Make an offer!
When it's time to make an offer, it's advisable to consult with your mortgage advisor beforehand to ensure the property aligns with your preferred lender's requirements. We always recommend making your offer either in person or over the phone for a more personal touch.
During this process, you'll be asked for details about your situation including preferred timescales, mortgage status, and whether you've appointed a conveyancer. Following up with a covering letter or paragraph to reaffirm your offer is good practice; it allows you to personalise your offer and explain why the property is the perfect fit for you. Sharing why you can envision yourself living there and expressing what you love about the home can significantly influence the seller's decision on which offer to accept.
If you encounter any challenges while completing solicitor forms, don't hesitate to reach out to us for assistance. Your financial advisor will handle the submission of your mortgage application to your preferred lender and can also offer guidance on any necessary insurance needs.
Good communication
It's crucial to maintain open lines of communication between your solicitor and the estate agent throughout the entire process. Prompt and responsive communication helps expedite the sale for all parties involved.
Consider establishing a chain email among all parties to ensure everyone stays informed and aligned. This way, if your solicitor requires any updates or documents, the estate agent can promptly liaise with the seller's solicitor to facilitate the process.
While the estate agent may recommend a solicitor they've had positive experiences with, it's essential to ask potential conveyancers about their current caseload and average completion time before making a decision. Some solicitors limit their workload to ensure a higher level of customer service, while others handle larger volumes, which can sometimes lead to delays. While price is a significant consideration when appointing a conveyancer, prioritising efficiency and reliability can ultimately save you time and frustration in the long run.
Choosing a reliable and efficient conveyancer is crucial to the speed of the transaction. It's important to note that the timeline for the legal process can vary depending on factors such as the parties involved, the length of the chain, and other variables. While the average timeframe is around 12 weeks, the process can sometimes be quicker or slightly longer.
Exchange and then completion day!
The exchange of contracts occurs when the sale contract is exchanged between the buyer's and seller's solicitors, Upon exchange, you will be required to transfer the deposit money to conclude the exchange. and agreement on a completion date (move date) to finalise the exchange.
Once the sale is exchanged, all parties involved can now relax, as the transaction is legally binding.
There is no set time for completion, so once the estate agent hears from the solicitor, they will contact you to arrange a time to meet at the property and hand over the keys. The keys will only be released once the estate agent receives confirmation from the seller's solicitor that they have received the funds.