Step One – what can you afford?
Ready to start looking? It’s time to work out what you can afford.
Start with your deposit, that’s the lump sum you will have been saving, this combined with your earnings will help to calculate what you can borrow. Lots of banks, building societies or mortgage broker will be able to help you with this. There are even mortgage calculators on the property search engines. You will also need to factor in move costs – removals; legal costs – solicitor’s fees; local authority searches; a property survey; stamp duty and mortgage fees.
Don’t forget to factor in everything, the mortgage won’t be your only bill, remember to add council tax, ground rent and service charges if you are looking at a leasehold property, heating; wi-fi, etc, and make sure you will be able to meet all the payments.
You will need to find a mortgage broker; you can ask us to recommend if you need. The mortgage broker will help you find mortgage financing and confirm what you can spend.
Step Two – Time to go shopping
It’s time to get dreaming. Now is your chance to really refine your search and decide what is important to you about home? Consider the area, location (you can check the history of a street and the surrounding area on www.streetcheck.co.uk) and broadband speeds.
A good way to find out about what’s upcoming is to sign up for our mailing list and follow us on our social media. Then, book that viewing! You might want to book a few as it’s unlikely that the first one you see will be the one you buy and it gives you a chance to compare what’s available.
Step Three – Make a move
So, you have found ‘the one’! It’s time to make an offer. Give your agent a call and let them know. You will then need to put this in writing. The agent will tell you who to send it to and what it needs to include. Good things come to those who wait, sit tight and wait for the phone to ring to tell you the outcome. 🤞
Step Four – Paperwork
There’s a lot of paperwork involved in buying a home. From arranging the mortgage and survey to bringing in a solicitor, it’s time to get down to business. You can always ask your agent for guidance on what you should book.
Step Five – Exchange and complete
Once you exchange contracts the completion date is set. It’s time to think about setting up those household bills and get packing for your new home.
