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.
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
Based on an assessment of your financial situation, we’ll have a look at the various mortgage options available for you.
A mortgage in principle serves as proof to sellers that you can afford what you offer them.
Think about house prices in the area and the area itself. What can you afford here? Could you see yourself living here?
Once you know where you’d like to live, get researching local properties. Know the market well! https://www.rightmove.co.uk/
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!
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.
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.
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.
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.
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.