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How to buy a house

We’ve complied a 7 step guide to guide you through the process
Step 1


Start researching the type of property available within your budget along with the area. Try Rightmove, Zoopla, Prime Location and right here on our website to start.

Search Properties
Step 2

The Budget

As well as the price of the property there are many other expenses to consider when buying:

One Off Expenses
£  Stamp Duty Tax is a tax charged on properties over £125k 
£  Legal / conveyancing fees
£  Property Survey & Land Registry Fees
£  Local Authority Search
£  Estate Agency Commission
£  Removal Fees

Other Expenses
£  Other Expenses 
£  Buildings & Contents Insurance
£  Additional Insurance
£  Reconnection of Services
£  Mail Redirection
Step 3


Looking for the best mortgage deal? How do you get the best mortgage?

The answer is simple: Get independent financial advice. 
A specialist mortgage adviser can search thousands of mortgage deals to find the best mortgage quotes for your particular circumstances. Remember Banks and Building Societies will prefer not to tell you a better mortgage deal can be found elsewhere
Step 4


What is conveyancing?
The term ‘Conveyancing’ refers to all the legal and administrative work associated with transferring 
the ownership of land or buildings from one owner to another. The conveyancing process starts 
after an offer has been made and accepted for a property, and solicitors’ details have been exchanged by the two parties.

Who Does Conveyancing?
Most people hire a solicitor or licensed conveyancer to undertake the legal side of buying their home.

Getting a Conveyancing Quote
Speak to the Agent who is advertising the property you are going to make an offer on. They will be able to recommend a good solicitor, or do some research on the internet for solicitors in your local area. 
Step 5

Make An Offer

Pre Offer Checklist
Keep an eye on the local and national housing market. Check that the house is worth the price you are willing to pay. Have a look at the land registry reports for houses that have sold in the same area and compare asking prices with actual sale prices.

How much should you offer?
Remember that properties do not have fixed price tags, you can make substantial savings with a little skilled haggling. Normally the opening offer is about 5-10% lower than the asking price.

Keep cool and don’t look overly keen. Stay polite however stressed or angry you feel. It is best to negotiate in person, not over the phone
Step 6


Basic Valuation
All lenders require a basic valuation as they need to know they are not lending you more than the property is worth.

Homebuyers Report
The RICS introduced the new RICS Homebuyer Report in July 2009. It was designed to be a user 
friendly report.

Building Survey
This is the most comprehensive (and costly) option. It is suitable for any building but is especially 
recommended for older buildings.

Step 7

Exchange & Complete

Contracts are exchanged. You hand over a deposit which is non-refundable. if you pull out of the sale. Once you and your solicitor are satisfied that everything is in order, the contracts can be exchanged. You sign a copy of the contract which is passed to the seller and the seller signs a copy which you receive. Both parties are then legally bound to follow through with the transaction. You can no longer change your mind - if you pull out it is likely that you will lose your deposit and you could be sued for breach of contract. 

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