1. Think about your Mortgage
How much can you borrow?
Unless you're buying the property entirely in cash, you will need to get a mortgage in place. Lenders typically base the amount you can borrow on a multiple of your income. It's usually around four times your income, but can vary depending on how much you earn. For further advice we recommend contacting your bank or looking at mortgage comparison websites. Further information can also be found at the Mortgage Advice Bureau
Consider your monthly payments
It’s important to consider what your monthly mortgage payments will be. Think about how you would cope if your financial situation changes, or interest rates rise, and be careful not to overstretch yourself.
2. Remember the other costs
In addition to the deposit, your savings will also need to cover other expenses like Stamp Duty, mortgage fees and solicitor’s fees. It’s also worth thinking about any moving costs and furnishings you’ll need.
3. Property Specifications
It’s a good idea to get your criteria in place before you start looking. House or flat? New build or an existing property? How many bedrooms do you need? How many bathrooms? Consider what’s essential and what is desirable. If it’s absolutely essential to have a garden, don’t waste time looking at third floor flats.
4. Book a viewing
It’s a good idea to arrive early to your viewing so that you can explore the local area and have a good look at the street. Our experienced team will show you round the property and answer any questions you might have.
5. Make an offer
Once you’ve found the right property, our agent will guide you through making an offer and negotiating the right price.
6. Offer accepted
Once you’re offer has been accepted by the buyer, our sales team will support you through to exchange and completion. We’ll liaise with your solicitors and those of the sellers to get you moving as quickly as possible.
Search our available properties or get in touch today to discuss how we can help you.
