Getting your first home is a very exciting time but a very daunting one too. We’ve created this guide so you can save time, effort and hard-earned cash. With our guide you’ll be able to tackle anything!
Get your finances under control
How much do you need to buy a house? With the recent 95% mortgage, you would need a minimum of a 5% deposit however, ideally, you’d want a 10% deposit. You will also need to think about additional costs such as; solicitor fees, mortgage fees, survey costs, building insurance. We are here to lend a helping hand with these though, so don’t worry too much!
Get your mortgage agreed in principle.
This is not a formal mortgage offer, but it means you can show sellers that it’s likely you’ll be able to afford the property you want to buy. If you need to arrange a mortgage we can help through our associated company. They have access to thousands of mortgages from high street banks and other lenders and can help guide you through the mortgage process.
Register with your local agent.
Make use of our experienced branch teams to make your buying process as simple and as smooth as possible. If you need advice, talk to us!
Make an offer!
Once you’ve found your perfect home, it’s time to make an offer. Make sure your offer is realistic, if you go too low you may not be taken seriously. Remember, at Firmin & Co, your dedicated agent will be on hand to guide you through the whole process!
Arrange a mortgage
Your mortgage may have expired already, so check what’s new to the market and see if there’s a better deal out there for you! Our mortgage consultants have access to thousands of mortgages, so if you need some help getting the best deal book an appointment today.
Hire a conveyancer
It’s time to think about who you want to handle the legal side of things. A conveyancer will conduct searches, liaise with the seller’s conveyancer, inspect the seller’s documents, deal with the Land Registry and all that very boring stuff.
Arrange a survey
A survey is advisable, if you don’t get one and come across unforeseen structural issues once you’ve made your purchase, it would be down to you. Give yourself peace of mind and have that survey conducted!
Get buildings insurance
Protect your building and the contents. If the building were to burn down and you aren’t insured, you’d have to pay every penny of the sale price yourself. Not ideal.
Set the completion date & exchange contracts
This is the date you’ll finally move into your new home (exciting!). Might be worth finding a trustworthy removals company because you are nearly there! When your solicitor and the seller’s solicitor swap signed copies of the contract, you’ve effectively exchanged contracts, so it’s time to pop a bottle.
It’s moving day! Completed it. You are officially a homeowner, how do you feel?