There are a number of things to decide upon such as:
Talk to a mortgage company and determine the maximum amount that you can comfortably afford to borrow. Formulas are used based on the salaries of the lenders. Remember interest rates can go up and personal circumstance can change (such as starting a family).
Decide what type of mortgage you need (repayment, endowment, pension) and what type of payment plan you want (discounted mortgage, fixed rate, capped rate). Also establish what exit fees are due for early repayment.
Look at all likely costs of moving:
Start the process of arranging a mortgage in principle.
Visit our offices and talk to one of our experienced consultants.
We will arrange for particulars of appropriate properties to be sent or emailled to you and will arrange a visit to view the property at a convenient time to you. If you find a property that you particularly like then view it again but at a different time of day so that you obtain a more rounded view of the property. Remember that this can be the biggest purchase of your life so make sure that it is a good one!
Once you have found a property that meets your requirements and is within your budget then make an offer to the vendors through our offices. We will contact the owner on your behalf and pass on your offer. You will be required to make a deposit on the house. Your offer is only accepted subject to the findings of your survey and any undisclosed findings that a solicitor may uncover.
Arrange a Survey - first deciding on whether you want a full structural survey or a valuation survey. The one you choose will depend on the age and type of the property.
Employ a solicitor to carry out the conveyancing of the property. Your solicitor will draw up a contract between yourselves and the vendors. A date will be set for exchange of contracts and completion.
Finally, you will need to arrange insurance on your new property.