Mortgage journey

Speak to a Mortgage Adviser 

Before you start looking for a property, it’s important to know how much you can afford to borrow. This involves assessing your finances, including your income, expenses, and credit score. 

Get a Decision in Principle (DIP)

A Decision in Principle (also known as a mortgage in principle and an agreement in principle) is an estimate of how much you could potentially borrow. It is advised to get this before you start house hunting, as it shows sellers and state agents that you’re a serious buyer.

Find Your Dream Home 

Start searching for properties within your budget. Take your time to find the right home for you. Rightmove, Zoopla and local estate agents can help you with this. 

Make an Offer

Once you’ve found a property you like, make an offer through the estate agent. If your offer is accepted, you’ll move on to the next step.

Instruct a conveyancer 

Instructing a conveyancer to handle the legal aspects of your property purchase is crucial. We have a list of trusted partners we can recommend ensuring your transaction goes smoothly and efficiently.

Speak to a Protection Adviser

It is time to talk about protection! It is important to find the best options for home insurance, life insurance, and mortgage protection. Get expert advice tailored to your needs to ensure you and your family are financially protected.

Secure a Mortgage Offer

Your mortgage advisor will formally apply for a mortgage with your chosen lender. This involves providing further financial information and undergoing a credit check. The chosen lender will also carry out the basic property valuation. As this is only a basic valuation it will only show major defects in the property, if you wish to, this is a good time to get a more detailed survey carried out. This usually takes between 2 to 4 weeks on average to assess, and if successful, the bank will issue your mortgage offer – which means they are happy to lend you the money.

Kick-Start the Legal Process

Once the mortgage offer is issued, the legal process will start. You solicitor will carry out local authority searches, environmental searches, drainage and water searches, review the contracts and handle the exchange of contracts, and ensure the property is properly registered in your name after completion.

Exchange Contracts

Once all the legal checks are complete and both parties are happy, you’ll exchange contracts. This is a legally binding agreement to buy the property. Your home insurance should be arranged from this date, make sure you speak to your protection adviser, so they can make the necessary arrangements.

Complete the Purchase

On the completion date, the funds are transferred, and you officially become the owner of the property. You can then pick up the keys and move in!

Final Steps

After completion, there are a few important final steps to take care of. These include setting up utilities like electricity, gas, water, and internet. Also, inform relevant parties of your change of address, such as banks, NHS, car insurance providers and subscription services. Taking these steps will help you settle smoothly into your new home.