A property is one of the most expensive items you are ever likely to buy and the decision you make will have a major impact on your life. With so much at stake, it is little wonder that the process may seem overwhelming.
Here we give you a head start by telling you 'what happens when', and how we can help you each step of the way. Please note, these details apply only to buying a home in England, Wales and Northern Ireland.
- Consider your finances. How much will you be able to borrow? Will you be able to afford your monthly repayments? Using simple calculators we can answer these important questions for you.
- Consider which type of mortgage is suitable for your particular circumstances. Ask us to talk you through our easy-to-follow Mortgage Guides which you can then take home and study at your leisure.
- Work out what you want and where you want to buy.
- Now plan a mortgage. We can search out the best mortgage for you online.
- Appoint a solicitor. Ask for our guide on the role of the solicitor. To help you obtain quotes we can also search for solicitors in your chosen area.
- Make an offer. As a first-time buyer, you're in demand as you are often at the start of a 'chain' of people selling their houses. This may give you a strong negotiating position.
- Arrange a survey (What's a survey? Why do I need one?). Ask for our Surveys' Guide, and for a list of surveyors in your chosen area.
- 'Exchange contracts'. Your solicitor will tell you when it's time for you and the seller to sign and exchange contracts. This normally involves payment of a deposit of 5%-10% of the purchase price. Once this has happened, neither you nor the seller can back out without huge financial penalty.
- Arrange Removals & Connections.
- Complete and Move In! 'Completion' takes place when your solicitor deposits the money in the seller's solicitor's bank account. At that time you can take the keys and move in to your new home!
