It is always advisable before you begin your property search to speak to a fully qualified mortgage advisor to find out what types of schemes are available and to see the level of finance you can achieve to fund your purchase which will ultimately influence your property search.
We would always deter you from getting a mortgage agreed in principle as this will leave a finger print on your file but would advise that you obtain a credit report from a reputable credit reference company like Experian www.experian.co.uk or Equifax www.equifax.co.uk.
It is always better to use a mortgage broker that has access to the entire mortgage market who will ensure the best mortgage deals and rates available.
Choosing an estate agent with a good portfolio of properties available to buy will increase your chances of finding a property that will suit your requirements. Register your property search with the agent so that suitable properties can be sort and emailed to you.
It is always useful to provide as much information as possible as to your property requirements so that the agents provide you with properties based on your specific requirements.
Once you have provided the Estate Agent with your specific requirements and they have a clear understanding, they should be able to provide you with a shortlist of suitable properties. If your Estate Agent offers you the following services this will make your property search easier:
Check for the following before you attend a viewing:
Once a suitable property has been identified you can submit your offer to the estate agent. In order for your offer to be legitimate, the following is necessary:
The successful purchase of a property can be reliant on the instruction of an efficient solicitor with experience in property conveyancing and a thorough understanding of property. It is always a good idea to do some research before looking for a property. Most estate agents are able to offer recommendations if required.
We have partnered with Lifetime Legal who have a panel of conveyancers that provide conveyancing services whether you are a seasoned home mover or this is your first time. Lifetime Legal make the whole experience smoother, less stressful and financially less risky meaning our clients benefit from;
It couldnít be easier, ask your Woodland office for a quote (we can also deal with your related transaction, even if you donít buy through us) and we can instruct your solicitor today.
For more information please call 020 8554 5544 between 9 am to 6 pm Monday-Friday.
If your offer is accepted the estate agents will do the following:
Once all this information has been collated and the paperwork has been drawn up the conveyancing process can get underway.
While your solicitors are dealing with the conveyancing process, the following should take place:
You should contact your mortgage broker and advise them to instruct a survey.
After the mortgage valuation report is received, a formal mortgage offer will be sent to both you and your solicitor which you will need to sign before this document is returned.
Upon your mortgage brokerís receipt of this document, your mortgage is in place.
There is no legal obligation until contracts have been exchanged.
Exchange of contracts can occur when the following has been confirmed and agreed:
Preliminary enquiries following receipt of the draft contact.
Specific issues highlighted in the lease, if applicable.
Local search enquiries.
Fixtures and fittings to be included in the sale.
Once the contracts have been signed by both parties the following will occur:
The deposit will be telegraphically transferred or paid in the form of a bankers draft from your solicitor to the sellers solicitor who will hold the deposit until completion of the sale.
The completion date is set by mutual agreement between the two parties (yourself and the seller).
Once exchange of contracts has taken place both yourself and the vendor are legally bound to buy and to sell which then only leaves for a COMPLETION DATE.