Buying your first home can be an exciting and rewarding experience. Once you have decided to take the leap, there are several things you might like to get in place before you start your search, finance being probably the most important. How much can you borrow? There is a free mortgage and stamp duty calculator tool for you to use towards the bottom of this page.
Speak to or visit a mortgage broker who will be able to tell you how much you can borrow and what amount of deposit you will need to put down to purchase a property. This is usually a minimum of 5% but sometimes no deposit i.e. 100% mortgages may be available.
If you are struggling to save a deposit, you may be eligible for a government help to buy scheme. The link below is directed to the www.gov.uk relevant page and will provide you with the latest information on ‘Help to Buy’.
Click here to see the latest official Help to Buy guidance on GOV.UK
Decide what type of property you want to buy and where it's going to be located. Try not to make your search too narrow as you could miss out on your dream home by being too specific. We suggest you look up to 10% above the price you are hoping or able to pay. Don't be too rigid about your requirements - sometimes flexibility has its own reward.
We have far more properties than any other property websites. Don’t miss out on your dream home by being distracted by websites with fewer properties because those properties will almost certainly be on our website anyway. When you have found a property you like, simply click on the link to the estate agent's website and you will be able to arrange a viewing. When you’ve agreed a sale, you will need to advise your mortgage broker. Your lender will then usually organise a survey to make sure the property is a sound investment. This can be a protection for you.
You’ll need a solicitor/conveyancer to handle the legal work and pay stamp duty (if applicable).
After exchange of contracts, you will become liable for the property. So it is prudent to have insurance in place from this date. Lenders generally require you to have buildings insurance as part of their mortgage conditions.
If the survey is fine, your mortgage offer approved and the legal checks on the property in order, there will be an exchange of contracts (when any agreed deposit needs to be paid to your solicitor) and a date set when you move in, this is your completion date. On the completion date your mortgage provider will transfer the monies to the owner's solicitor to complete the transaction and you will be able to collect your keys and move in!
You can then start to sort out your furniture, sort your utilities and make your first property your home.
