Step by step guide to buying

Buying a home isn’t complicated

Buying a home isn’t complicated but it can be a daunting prospect. We understand that your home is probably the largest single investment you will ever make and it is vitally important that you place the sale of your property in the hands of someone you can trust. You’ll need someone who will look after your interests and make the house selling process as stress fee as possible.With the help of this guide, we aim to make your selling and moving experience a smooth and stress-free experience.

1. Arranging a mortgage

Before you begin your search for a property it is advisable to arrange your finances and if required, have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase of the property, which will play a key part in searching for a suitable home. Our recommended mortgage broker is The Mortgage Broker Ltd. They are one of the fastest growing referrer of mortgage enquiries to mortgage brokers in the UK providing access to professional advice and guidance in all areas of the mortgage market. In addition to standard residential mortgage and re-mortgage expertise, advice by these brokers is provided in specialist niche markets such as Buy to Let, Offset and for those clients with blemishes on their credit file. Mortgage Advice will be provided either face to face or via a UK based customer contact centre.

2. Finding the right property

Once you have registered your interest with us, and we have a clear understanding of your requirements you will receive a selection of properties that match your criteria. We can also keep you constantly up-to-date via email or phone when the latest properties become available.

3. Viewing properties

Our offices are open 9am-5.30pm Monday to Friday, 10am-5pm Saturdays, and 10am to 4pm Sundays and Bank Holidays. If needed we can drive you to your viewings, or meet you there, ensuring you can ask any questions you may have during the viewing process.

4. Finding the right solicitor

The successful purchase of a property can be reliant on the instruction of an efficient and experienced solicitor. It is a good idea to use a solicitor who knows the area that you’re moving to and specialises in conveyancing. We have a selection of tried and tested solicitors that are experts in property who we would be happy to recommend.

5. Making the offer

Once you have identified a suitable property we will put your offer forward to the seller, stating any special conditions of the offer. You may need to demonstrate, if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle). There are no legal obligations on either side until contracts are signed.

6. Agreeing the offer

Once your offer is accepted we will do the following: prepare a memorandum of sale, write to all parties to confirm the agreed price, ask you to confirm your solicitor’s and mortgage broker’s details. You will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.

7. More paperwork – Conveyancing!

As part of the conveyancing process your solicitor will do the following: raise any enquiries on receipt of the draft contract from the seller’s solicitor, request their own local searches, agree on a date for exchange of contracts. We will of course assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.

8. Mortgage offer and survey

A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property’s value. After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign before it is returned. There are no legal obligations until contracts are signed.

9. Contract exchange

Exchange of contracts occurs when all enquiries have all been confirmed and agreed. Once the contract has been signed by both parties the deposit will be transferred or paid in the form of a banker’s draft from your solicitor to the seller’s solicitor. The completion date is then set by mutual agreement.

10. Completion of Sale

Completion is when the balance of monies owed are transferred from your solicitor to the seller’s solicitor’s account. We will release the keys once the money has cleared in the seller’s account. Congratulations, you are now the legal owner of your new home!