Check your financial situation - ensure you've got the funds for the move.
It's crucial to have a clear understanding of all the expenses tied to home buying before you start house hunting. This includes not just the property cost but also factors like stamp duty, legal fees, and mortgage charges.
Consulting an independent mortgage advisor is smart — they can evaluate your financial situation and recommend the best mortgage product based on your employment status.
If you need assistance, we have a connection with a mortgage advisor who can provide free advice.
Getting a pre-approval is a good move; it signals to agents that you're serious about buying. Once you know your maximum budget, you can start your home search.
What's the right property and area for me?
Do your homework! Research the areas you're interested in and visualize yourself living there. Take a drive around to narrow down specific locations.
Consider property types—do you fancy a leasehold apartment or a freehold house? Garden or no garden? Semi-detached or detached?
There's a wide variety, and a knowledgeable local agent can help you pick what suits you best.
Let the viewings begin!
After deciding on the area and type of home you want to see, it's time for the exciting part — viewing homes! Register with local estate agents, and subscribe to their social media for sneak peeks of upcoming properties.
When dealing with local agents, stick to those affiliated with the Ombudsman Scheme or governed by a professional body for reliability.
Many estate agents now offer preview videos or online viewings, making it easier to narrow down options before a physical viewing.
Put in an offer!
Once you're ready to make an offer, consult with your financial advisor to confirm property details before proceeding. They can guide you on the offer and strategy.
If the offer is accepted, submit your mortgage application and complete the solicitor paperwork, with your agent's assistance if needed. The financial advisor can also help with any necessary insurance.
Keep the communication flowing!
Maintain open communication between your solicitor and the estate agent. Quick and effective responses to queries make the sale smoother for everyone involved.
Choose an agent who communicates well and is easily reachable. They might even recommend a local, experienced solicitor to streamline the process.
The solicitor will handle local searches and raise inquiries about the home, a process that typically takes around 12 weeks.
Exchange and completion day!
Exchange of contracts occurs when the signed contract is exchanged between buyer and seller solicitors. During this, you'll transfer the deposit money to finalize the exchange.
Once the exchange is done, the sale is legally binding. Both parties agree on a completion date, set in stone. On the agreed date, the solicitor or estate agent will meet you at the property to hand over the keys and provide essential information about your new home, like the location of electric and gas meters.