Buying Process
1. Find out how much you can afford
It is sensible to speak to a financial adviser at the earliest possible opportunity in order to establish some idea of monthly repayment costs. Most often it is not how much money you can borrow that is important, it is how much it will cost you monthly. There is nothing worse than finding your dream home then not being able to borrow the money or afford the repayments.
2. Looking for the right house for you
At Alan Francis we can help you find what is available. Ask to be put on our mailing list and we will contact you when
suitable properties become available. Our website is also full of the latest available properties.
3. Making an offer
Once you are convinced you have found the property you want, let us know. If your offer is accepted, we will arrange
for the property to be taken off the market.
4. Your Mortgage and Legal Services
We can help you arrange your mortgage and appoint a solicitor or a conveyancer to carry out the necessary legal work. Once your mortgage application has been submitted, the lender will carry out credit checks and referencing before advising if your application has been accepted in principle.
A valuation of the property will be needed to establish that the property is worth the price you are paying, before your lender finally agrees to the mortgage.
Whilst a basic valuation will tell of any major problems you can ask for a more in depth survey. These are called Home Buyer Reports. If you want a more in-depth report we can arrange one, or a full structural survey, which will provide more detail.
Your solicitor will meanwhile check the title deeds to the property, carrying out searches to ensure there are no planning applications, and liasing with the seller’s solicitor.
5. Final Stages
Proceeding smoothly, your solicitor will arrange for you to sign the contract. The seller will also sign a contract and these contracts will be exchanged. At this point you are required to pay the deposit to your solicitor. This is when the purchase/sale becomes legally binding.
Completion normally takes place around four weeks later - mortgage monies are passed on to the seller and you receive the keys to your new home.
