How to get on the property ladder! A simple guide
How to get on the property ladder.
A simple guide to snapping up your first home!
How to get on the property ladder! Buying your first home is incredibly exciting! However, it can sometimes seem a little daunting. We’ve broken down the house buying process below to make it as simple as possible.
Check how much you can afford to spend
Talk to us about the first steps. We’ll look at your income and use your deposit to find out how much you can actually afford. First Time Buyers
Choose your mortgage
Based on an assessment of your financial situation, we’ll have a look at the various mortgage options available for you.
Get a mortgage in principle
A mortgage in principle serves as proof to sellers that you can afford what you offer them.
Think about where you want to live
Think about house prices in the area and the area itself. What can you afford here? Could you see yourself living here?
Choose your property
Once you know where you’d like to live, get researching local properties. Know the market well! https://www.rightmove.co.uk/
Found your perfect home? The next stage is buying it!
Don’t be afraid to offer below the asking price – estate agents are legally obliged to present all offers to the seller and we’ll help you negotiate the best price for you!
Offer accepted? Now finalise your mortgage!
We will liaise with your lender to arrange a valuation on the property to make sure it’s worth what you’re paying. Once they’re happy, a mortgage offer will be issued.
The legal side
We’ll find you a solicitor and will work with them to start the formal proceedings and take care of the legal transfer of the property.
Surveying your prospective property
You might like to get a more detailed survey carried out on the property. If a potential problem emerges in your survey, employ a tradesman or builder to quote how much it will cost to fix it. If needed, we’ll help you use this information to renegotiate your offer.
Exchanging contracts
When the contracts are completed, your solicitor or conveyancer will exchange contracts with theirs and the two sides will agree on a dateto complete the sale.
Completion
Your solicitor will total up a completion statement. This details everything you need to pay, as well as remaining fees and stamp duty costs. After you’ve signed the transfer deed for the property and your conveyancer has sent over the money owed, congratulations are in order – you’ve officially completed your purchase!
If you’d like to start the process of getting yourself on the property ladder then arrange a call now from one of our expert advisers.