Homebuyer's Checklist

Homebuyer's Checklist

Checklist

WHAT CAN YOU AFFORD?
Talk to our friendly independent mortgage advisors to work out what you can afford. To ensure you are in the strongest negotiating position secure a mortgage in principal before starting the property search process. Generally, the bigger your deposit the better the deal. You will need proof of ID, evidence of your earnings, bank statements and proof of your address within the last three months.

FINDING YOUR PERFECT PROPERTY
Consider what is most important to you - location, number of bedrooms, number of reception rooms, parking, south facing garden etc. Do you want to take on a project?

We can discuss areas with you, house prices, school performance, public transport links and other local amenities to aid you with your search.

GETTING THE MOST OUT OF VIEWINGS
We provide high-quality photographs, floorplans, virtual tours, online brochures and local information.

MAKING AN OFFER AND NEGOTIATING THE PURCHASE
Once you make an offer, make it clear whether it is subject to a satisfactory survey. Once accepted progress your mortgage offer.

Your lender will arrange for a valuation to be done on the property. If you do not need a mortgage you will not need a survey, though buying a property without one is not advisable.

If you are buying an older property, a property that needs repairs or just for your own peace of mind, you could consider getting a more detailed survey done than the basic lender's valuation.

The lender will use the surveyor's Valuation Report and other information you provided to calculate how much it will allow you to borrow by way of mortgage secured on the property.

INSTRUCT YOUR SOLICITOR
Your conveyancer will:

  • Obtain sellers' responses to questions, such as who owns the boundaries, whether they have had any disputes with neighbours and what fixtures and fittings are included.
  • Check copies of any guarantees on the property, details of planning permissions and building regulation certificates.
  • Check the seller is the owner of the property and prepare a Report on Title for you.
  • Check local authority searches and plans for the local area.
  • Pay stamp duty and land tax on the property.
  • Arrange registration of title in your name.
  • Our sales progressors will work closely with the solicitors to streamline the process.

It can take anywhere between 8 and 12 weeks from the day your offer is accepted to getting all the paperwork completed and queries answered, even where there is no chain.

EXCHANGE
In England and Wales, Exchange of Contracts is the last stage of the legal process after which a completion date is agreed and you cannot withdraw without losing your deposit and facing legal action from the seller.

It is essential to have buildings insurance cover in place at this stage and you should also consider other protection such as life insurance. It is important to ensure your monies is transferred on time for exchange and completion.

The conveyancer will also send you a completion statement. Read it carefully - it should reflect their original quotation.

COMPLETION DAY
Organisation is key to keep moving day as smooth as possible:

Use a good removal firm – speak to us for a recommendation. Consider what level of service you want – having the removal company pack for you can be a great help.

Checkout the best value utility contracts for your new property well in advance and read the meters in both properties on moving day.
Redirect post well beforehand - this is especially essential to protect yourself from identity theft.