The House Buying Process
- Confirm affordability and obtain an Agreement in Principle from your adviser
- Start looking for property within your price range
- Find your property and make an offer to purchase (usually via an estate agent)
- Offer accepted by seller
- Submit mortgage application to lender for assessment. The lender will
- Assess income and expenditure
- Complete a Credit score
- Obtain a Valuation on the property
- Assess Valuation
- Produce the Mortgage offer – the agreement to lend
- Appoint Solicitor to complete your legal work. The solicitor will
- Request appropriate searches including land, environmental and local authority
- Consult with sellers’ solicitors to raise necessary enquiries regarding the property
- Manage Exchange of Contracts and Completion communicating with other parties within the property chain as appropriate
- Exchange of Contracts - the point the client is legally obligated to purchase the property. The client should
- Arrange for protection insurance to be in place by this date
- Completion - the point the client takes ownership of the property and receives keys. The client should
- Arrange for Buildings insurance to be in place by this date (if applicable) as well as protection insurance if not already live.