We know that buying a new home isn’t something you do very often and the process may not be all that familiar to you. We’ve put together this visual guide to help you get started.
Easy guide to getting started
Start savingfor a deposit.Yesterday, ideally.You’ll normally need at least 10% of the property value
Figure out those other not-so-little costs. Conveyancer, stamp duty (depending on the price of your property), removal men, new cushions…
Take a look at this
useful stamp duty calculator to help.
- Use handy tools offered by your bank (hello) to work out how much you could borrow. We’ve got a very useful one right here
Figure out where you want to live. Nice view? Decent Chippy? Are any schools nearby?
Find out using this link
- Consider what you want from a house. Doors and windows — essential. Waterslide — optional.
- Use sites like Rightmove and Zoopla to get an idea of
what you can afford.
- Befriend the local estate agents. Get in their good books so they’ll let you know of any good houses that come on the market before they are listed on the internet.
Look at some houses.
Do some detective work and ask lots of questions.
- Make an offer on the one you love. Offer lower than you’d like to pay and don’t be afraid to haggle. Now sit and wait nervously.
While doing that, research some mortgages using handy
- Book a phone appointment and get some straightforward, expert advice on our mortgages. Then start your application.
Choose a conveyancer. It’s worth ringing round a few to get some quotes, or
using a conveyancer comparison site.
- Get an Agreement in Principle (AIP), accept and return your offer then your mortgage company will value your property. You can get a professional report on the condition of the property. Read it and see what works may be required — and whether there are any hidden surprises.
- Your conveyancer will carry out all of the required searches and checks and liaise with the seller’s conveyancer to agree any documentation.
- If everyone’s happy, your conveyancer will exchange contracts on your new home.
- When completed you can pick up the keys. Exciting!
- Remember to take meter readings at your old and new property before you fully move in.
Move in.Extra exciting!
- Change your address, re-direct your mail and tell your mum you’ve moved.
- Invite us round to the housewarming party.
Your home may be repossessed if you do not keep up repayments on your mortgage.