10 Steps to Buying a Property

  1. Learn Your Budget: Before visiting estate agents and viewing property it’s best to find out exactly how much you can afford to borrow. Get in touch with us here at Mortgages and Insurers Solutions to find out how much you can borrow and what you can afford.
  2. Agreement In Principle: Based on your credit score and finances, one of our expert mortgage brokers will research the market to find the most suited mortgage products for you. We then gain an Agreement in Principle (AIP) from your chosen Lender.
  3. Offer on a Property: Find your ideal property (if you haven’t already search on rightmove) and with your AIP in place you can make an offer. Once accepted, we will help you complete your Full Mortgage Application.
  4. Find a Solicitor: Hiring a conveyancing solicitor is necessary in order to handle all the legal paperwork. A solicitor will carry out all of the required searches (local authority, water & drainage, and environmental) and liaise with the sellers solicitors. We can also help you choose a solicitor if you cannot find one.
  5. Property Survey: Your Lender will require a valuation on the property and you can order your own survey to check its condition as it could reveal potential problems. Here is some more information about home surveys.
  6. Mortgage Offer: If everything is in order your Lender will issue you an official mortgage offer. You are not bound by the terms of the offer until you sign the mortgage deed and the loan monies are released.
  7. Protection through Insurance: Protecting your assets is key to your present and future financial security and peace of mind in an uncertain world. Ask us about buildings insurance, critical illness cover and mortgage payment protection insurance.
  8. Exchange Contracts: Your Solicitor agrees a completion date for you and contracts are signed and exchanged. Your Solicitor will manage the transfer of funds from your Lender to your seller’s Solicitor.
  9. Final Legal Steps: Your Solicitor registers the sale and you must pay all the associated fees. Your Stamp Duty payment must be made in the next 30 days.
  10. Property Owner: Now the legal process is complete, you are the proud owner of a new home and can collect your keys. Congratulations!

Get in touch with us if you are thinking of purchasing a property. Our award winning team would be delighted to support your mortgage application. Just fill out our enquiry form, use the live chat function on our website or call us on 0208 364 3444.


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