Before you begin the search for your ideal property, it is recommended that you speak to a mortgage advisor to obtain information on what price range you can search. We can recommend a local broker to help you with this.
Arrange Viewings On Suitable Properties
Once you have decided what type of property and the price range you are searching for, you can then start arranging to view some properties you are interested in. You may wish to second view the property before making an offer to ensure it is the right property for you.
Make an Offer
Once you have decided which property you want to buy, you can then make an offer to the estate agent. The estate agent will most likely require information from you including your mortgage details. If you have sold your property, you may be asked for details regarding your sale.
Instruct a Solicitor
Once you have had an offer accepted on a property, this is the stage you instruct a solicitor to act for you. We can recommend a couple of local solicitors to help you with this if needed. Once both the buyer and seller have instructed a solicitor, the estate agent will then send a memorandum of sale to all parties involved to initiate the start of the sale.
Apply For Mortgage
Once you have instructed your solicitor, you will then need to arrange another visit with your mortgage advisor. This will be to apply for your mortgage. The mortgage company will instruct a valuation survey on the property you are purchasing.
While applying for your mortgage, your solicitor will begin the conveyance process. Once your solicitor has completed the relevant paperwork and they are happy with the purchase, they will ask you to sign the contracts. The conveyance process can vary dramatically in regards to time frames due to every purchase being different.
Exchange Of Contracts
Once your solicitor has received your mortgage offer and both solicitors hold signed contracts, they can exchange contracts.A moving / completion date must be agreed before exchange of contracts. Once you have exchanged contracts you will be in a legally binding contract to buy the property.
This is the day that you legally take ownership of your new property. You will generally collect the keys for your new property from the estate agent.