It’s a very exciting time when you start looking for a new home, it can also be time consuming and stressful and it’s easy to get carried away with the whole process. We have put together a few pointers which should keep you focused and save you valuable time.
1. Work out how much you can afford
A good starting point is to work out how much you can afford each month. We have a mortgage calculator on our website which is easy to use. You can get a good guide of the price range you should be concentrating on.
Residential purchases above £125,000.00 are subject to stamp duty.
Click here to work out how much stamp duty you will have to pay. If you are purchasing a second property then the rules on SDLT changed on 1st April this year. You can find out how the changes will affect you by clicking the link above.
2. Get professional advice
Take some time to look at the deals on offer from lenders then seek the advice of an independent financial advisor.
3. Get a mortgage agreement in principle
This will show that you are in a position to buy and will put you in a stronger position when you make an offer on a property.
4. View properties
Arrange viewings on property you are interested in as soon as possible, that way you stand a better chance of getting what you want. When you find your ideal property, make an offer. When you have an offer accepted, we recommend you have a survey carried out.
Your mortgagee will conduct a survey on the property for their benefit. It is strongly advised that either a home buyer survey or a building survey ‘depending on the age of the property’ be carried out before you go ahead with the purchase. This might be seen as an added expense but not having a survey could prove far more costly in the long term.
6. Hire a solicitor
Solicitors conduct all the legal work required to buy or sell a property. ‘Conveyance’ refers to the legal work required to transfer ownership of land and buildings from one owner to another. Having links with a local firm of conveyancing solicitors, we are in a position to give quotations on conveyancing fees in a matter of minutes. This service comes free of charge and without obligation.
7. Exchanging contracts
Contracts can be exchanged once you and your solicitor are happy that all is in order. Once contracts have been exchanged both parties are legally bound to follow through with the transaction. At this point you will need to secure a deposit on your new home.
8. Completion day
On this day, the title deeds are transferred to you and you get the keys to your new home. The balance for your new home is paid along with all other costs such as solicitor and estate agency fees
You should have planned your move day well in advance. Logistically it can be quite challenging to organise everything to happen at the same time. Employing the services of a removal company can take a lot of the stress out of the day.
By filling in the form in the contact us page you will join our mailing list. Our ‘property matching’ service will automatically alert you by email and text when a property matching your requirements comes to the market through us giving you details of the property before the mainstream see it.