House buying process - a step by step guide
The Preston Baker moving home checklist:
1. Obtain a credit file (if applicable)
In the past eight years, obtaining a mortgage has become more difficult. The best starting point is to get a copy of your credit file. This will help a mortgage adviser to find the most suitable mortgage for your needs and circumstances. You can obtain your credit file from various websites, and our team of professional mortgage advisers can help you gather the information you need..
2. Find a property - make an offer
When you find a property that’s right for you, it’s time to make an offer. You can usually do this over the phone to the estate agent.
3. Have your offer accepted, subject to a mortgage
Having your offer accepted is an exciting milestone in the house buying process. Now you need to arrange the finances to secure the deal.
4. Apply for a mortgage, life cover, buildings and contents insurance
With an offer accepted you can apply for your mortgage and associated insurance cover.
Your mortgage lender will want to carry out a survey of the property to make sure it is worth the price you have offered. You should also carry out a more detailed structural survey to check on the condition of the property and identify any issues that may need to be resolved.
6. Mortgage offer
If the surveys are satisfactory and the mortgage lender is happy with the value of the property, they will make a formal mortgage offer for you to check and accept.
7. Solicitor searches
Your solicitor will submit searches to the local authority to check whether there are any planning or local issues that might affect the value of your property.
8. Exchange of contracts
If there are no problems, the solicitor will send you the contracts to sign to complete the sale. Go through the contract with your solicitor to check that all details are correct before you sign.
9. Hand over keys
Your keys will be handed over on the agreed completion date, once confirmation of all money transfers has been received by the estate agent. This is usually done by midday.
How much is your property worth?
Find out what your property could let or sell for