1. Obtain a Deposit
How much have you got saved? Mortgage lenders now allow no deposit house purchases although mainly most customers require at least 5%. You can also get a deposit from family known as a gift or friends (lender dependent).
2. How much can I borrow?
Speak to a mortgage advisor. Lenders lend different amounts depending on your circumstances. Our sister company Allison Mortgage Services has lenders on their panel that can lend up to 7 x income!
3. Get a mortgage in principle
Again it's best to get this from an advisor. They will let you know if there are any conditions with the MIP. This gives agents confidence that you are a “Hot Buyer”. We would always recommend having this prior to viewing.
4. Find a house and make an offer
Fairly self explanatory. Speak to us to get guidance with this process. Having a strong offer strategy can save you money and put you in the best position to get the house.
5. Find a solicitor and apply for your mortgage
Double check the rates haven’t changed. We recommend solicitors if you can’t find one. It can be a minefield and expensive doesn't necessarily mean good quality in the world of conveyancing either.
6. Book a Personal Survey
Whilst the lender will do a basic level one mortgage valuation, you may want to check the property yourselves so you will need to book in your own survey. We recommend doing this once you have your mortgage offer.
7. Exchange Contracts
This is the bit where everything becomes official, you transfer your stamp duty, deposit and solicitors fees and pick a move date.
8. Completion day
Time to move!