Buying a home

Buying a new home can be an exciting experience.

This is likely to be your largest ever financial purchase so you should take care over your choice of home.

Have a think about what is important to you. Write down these factors, this will help you to concentrate on what is important

Don't buy the first property you look at. Look at many different properties!

If you are considering two properties then compare these two properties against your chosen criteria

Here are some factors to consider;

Where would you like to live
What is the price range, is it affordable
Is it convenient for work, schools, shops, leisure
What features are important to you, workshop, garden, parking

Historically, buying a house has been profitable over the long term. Please be aware that, as we saw in the 90's house prices can fall as well as rise. If you have to sell your home in the short term you may owe more money than you would recoup from the sale of your home.

There is a vast array of mortgages available. The deals on offer change weekly as companies compete for business. Newspapers and magazines regularly produce 'best buy' lists, but these are sometimes selected from the lowest 'headline' rate.

Taking professional advice from a mortgage broker will help you to make the right choice, it is one less thing to worry about

A mortgage is one of the biggest investments you are likely to make. On a £100,000 mortgage you may have to pay back over £200,000 to the lender.

Plan your purchase carefully, are you likely to move house every few years or to keep this property for a long time.

Property types

A mortgage is agreed on the basis that the property is a good security. Lenders in general do not like lending on the following properties:

Property that requires any structural work or remedial works
Freehold Flats, Studio flats, Ex local authority flats, Highrise flats, Flats above commercial premises (particularly food)
Non standard construction, ie. timber or concrete walls.

Auction Properties

If you are considering buying a property at an auction. It is most important that you have a mortgage agreed before you bid for a property. On the fall of the hammer, you will be expected to pay a deposit (often 10%), with the balance paid within a short time period.

Your deposit may be lost if your mortgage does not succeed within this time period.

Please read carefully the terms specified by the auction provider.

We do not offer mortgages secured against property being bought at auction

Arranging a Mortgage

Fill in Your Enquiry to get things underway

or read more about Arranging a mortgage

Insurances

Insurance provides protection against unforeseen events in the future.

Step by Step Guide

Please fill in Your Enquiry or call us now on 01722 415389

Obtain a decision in principle from the lender, you will then know how much you are able to borrow and you will be in a position to make an offer. (Note: Some Estate Agents will not permit you to make an Offer without an Agreement in principle)

Contact us to discuss your mortgage
House hunting.
Make an offer, subject to survey and contract.
Appoint a solicitor.
Complete Mortgage Application
Mortgage Offer issued
Arrange insurance
Exchange contracts, pay deposit. (Exchange of Contracts is the legal commitment to buy )
Arrange removals.
Move home!

How long will it take? It depends on the lender's administration and how quickly the survey is returned - say 3 weeks from application to Mortgage Offer. You should ask your Solicitor for an estimate of how long it is likely to take to complete the legal procedure. As a guide they will probably take about 2 months to complete their work. If you are in a hurry, the legal tasks can be done quicker. Talk to your Solicitor if you have a deadline to meet.