1. Check your budget
Prior to searching for a home, our advice is to speak with a mortgage advisor who can assess your budget and the best mortgage products for your situation.
Online calculators are great, but an agreement in principle will carry more weight when making an offer and offer you some peace of mind that a bank has assessed your finances and is happy to lend. Be sure to investigate other costs associated with buying like stamp duty, legal fees, and check if there are any mortgage arrangement fees involved.
If you need any help with this, we are happy to point you in the right direction.
2. What type of property / area is right for me?
Now you have your budget, look into which areas are most suited to what’s important to you and where you can picture yourself living. We also recommend taking a drive around locally to narrow down certain areas you really want to live in.
Consider property types too, do you want a leasehold apartment or a freehold house. Garden, no garden? Semi-detached or detached? There are many different types of home, a local experienced agent can help you decide which is most suitable for you.
3. Go out viewing!
Once you finally decide which area and type of home you would like to see, it is now time for the fun part, view homes! Our advice is to keep an open mind, often your requirements can change slightly during the viewing process. Register with estate agents who cover your preferred areas, they will then be able to email/call you with new properties coming to the market.
Subscribe to their social media channels, they often offer previews with what's coming to the market! The more homes you view, the better idea you will have on what’s most important and it will offer comparisons when it comes to placing an offer.
Most estate agents now offer preview videos or an 'online viewing' which can help narrow down what you want without a physical viewing, as it is sometimes difficult to have the time to view everything.
4. Make an offer!
When it comes to making an offer, consult with your mortgage advisor beforehand, as you can check if the property meets your preferred lenders requirements. We always recommend that you make an offer in person or on the phone.
You’ll be asked for information about your position: preferred timescales, mortgage situation and if you have appointed a conveyancer. Then we would recommend following up with a covering letter/paragraph to re-confirm your offer, and it gives you an opportunity to personalise it; be sure to explain why the house is a good fit, why you can see yourself living there and what you love about it. These types of letters can have an enormous impact on a seller’s decision on which offer to move forward with.
When completing solicitor forms, feel free to give us a call if you need any assistance.
5. Good communication!
Ensure all channels of communication are kept fully open between your solicitor and the estate agent. The better the contact and more responsive you are to all questions raised; the quicker and smoother the sale can move for all parties involved.
A chain email between you all is a good idea to make sure everyone is on the same page, and that way if your solicitor needs anything chasing the agent can get onto the seller’s solicitor.
The agent may recommend a solicitor, who they often work with and have had good experiences with. A great question to ask a conveyancer before you instruct is what their current caseload is and what their current average completion time. We’ve found some solicitor’s cap the amount they work with to ensure a higher level of customer service, but some larger volume companies can be trying to deal with 2-3 times this amount, which often leads to delays. Price can be a big factor when appointing a conveyancer, and we appreciate the overall cost of moving, to try and save money the cheapest quote is often opted for. However, if a company could answer these types of questions and as a result save you weeks/months (not to mention the headache), they could very well end up being the cheapest option to you.
On average, the legal part of the process usually takes approx. 12 weeks.
6. Exchange and then completion day!
Exchange of contracts happens once the sale contract is exchanged between the buyer’s and seller’s solicitor, just before you will be required to transfer deposit money and agree a completion date (move date) to conclude the exchange.
Once the sale is exchanged, all parties can now relax as the sale is now legally binding.
On the morning of the agreed date, the solicitor or estate agent will contact you to confirm when they are able to meet you at the property to collect the keys. The agent can also show you where your electric & gas meters are, as well as any other queries you may have with your new home.
Now you can sit back and enjoy your new home!