Please find below a list of steps that you should go through when buying a new property. We recommend that you register your details with us so that we may contact you should we find a property for sale that meets your requirements.
Steps to buying a home
- Decide on the property type and location that interests you
- Agree a mortgage (in principle) with a mortgage lender
- Do your homework! Calculate the cost of buying a property and moving in
- Register with us
- Choose a solicitor and inform them of your intention to buy
- View you potential dream homes
- Once you have found the place you would like to buy, make an offer
- We will state your offer and tell you if and when your offer is accepted
- Once the offer is accepted instruct your solicitor to act
- Your solicitor contacts the sellers solicitor requesting title deeds and initiates contract negotiations
- You now make a formal mortgage application
- Your mortgage lender will request a surveyor to carry out a mortgage valuation on the property
- Choose a surveyor and pick the type of survey you want
- Your mortgage lender accepts the valuation report, and agrees the loan
- Your surveyor forwards a report on the property for you
- You decide to proceed with the purchase on the basis of that report
- Arrange buildings insurance, to be in place upon exchange of contracts, this can be arranged through us.
- Your solicitor carries out a local authority search and makes enquiries into the property’s fixtures and fittings
- Your solicitor finalises contract details with the sellers solicitor, this will be held until the exchange date
- Contracts are exchanged; your solicitor sends the deposit and sets a completion date. If you back out now you lose your deposit.
- Your solicitor requests that your mortgage lender makes funds available on the completion date
- Your solicitor finalises searches on the property
- Your solicitor prepares the transfer deed; signed by you and the seller. It is held by the seller’s solicitor until completion
- You instruct your bank to transfer any funds not covered by the mortgage
- Your mortgage lender transfers funds to your solicitor’s account
- On the completion date, your solicitor transfers funds in return for the transfer deed, Land Registry certificate and keys
- You arrange contents insurance to start on the day you move into your new home
- Your solicitor pays the Stamp Duty, has the transfer deed stamped, then sends it to the Land Registry to record you as owner
- Your solicitor passes the title deed to your mortgage lender as security and sends you a bill
