1. Finances
Organise your finances beforehand: it is essential to consider all the additional costs of buying a property:
- Mortgage arrangement fee
- Mortgage indemnity fee
- Lender’s valuation fee
- Conveyancing
- Land Registry fee
- Surveys
- Stamp duty land tax
- Removals (and disposal / recycle of unwanted goods on the property)
- Contingency fund (factoring in any unexpected costs)
- Building and contents insurance
2. Finding a property
Don’t be shy about asking questions regarding the properties that interest you; you may be looking to ask questions such as:
- What local transport links are there?
- What is mobile phone coverage like?
- Is there an existing broadband connection at the property?
- How far are the local parks?
- How far are the local schools?
- Where are the closest shops?
- When was the property last sold?
- What council tax band is the property in?
- Is the property in a conservation area / is it a listed building?
- Is there a loft; scope for extending, renovating, adding value?
- Does the property have double glazing, modernised insulation, central heating; how old is the boiler, etc.?
- Is there off-street parking?
- How long is left on the lease?
- How much is the service charge and ground rent if any?
And you could do some of your own detective work too: you can find out more about local property prices online at Rightmove or Zoopla, and you can track down local information such as price growth, crime rates and so on by asking us or checking websites such as Property Data.
3. Offers
Waste no time in making an offer for any properties that interest you. You will have worked out your finances and should know what your budget is, so make an offer, but step on it! Today’s fast-moving property market means that decisive action can win or lose you the property you have your eye on in a blink.
4. Agents & solicitors
Hiring an efficient, reliable, licensed conveyancer / specialist property solicitor is essential. Keeping in touch with both is a must for continuous updates and to ensure that the legal process runs smoothly, that the sale proceeds without any hitches.
We will be pleased to recommend local mortgage brokers and conveyancers on request.