Here you will find some useful information and downloadable guides
Here is our simple, step by step process guide for purchasing a property. You may not always follow each step exactly as shown, but our mortgage experts will always be on-hand to help guide you through the process from start to finish.
Speak with a professional mortgage adviser
If you are considering the purchase of a property, you should always seek advice from a qualified mortgage adviser. They will guide through the process and make a recommendation based your preferences and affordability. This is always a great first step to ensure you can view properties with confidence.
Obtain a decision in
A decision in principle is the first step to getting a mortgage. At this stage, lenders will evaluate your finances and credit history to be sure you can support the mortgage. Once agreed, you can then move to the next step of the process. The decision is not a guarantee of a mortgage, as you are still subject to underwriting and a valuation on the property, but it is definitely a positive step.
Make your offer on the property you desire
Now you have approval for the mortgage, you can start to seriously consider the properties you want to buy. Once you’ve found the one, you can make a formal offer to the agent who is selling the property and provide your agreement in principle to show that you are able to proceed. If your offer is approved, let your mortgage adviser know.
Submit your mortgage application
Your adviser will now review the mortgage and protection options again and once you are happy, will submit the application to the lender on your behalf. During the application process, there may be some fees payable, such as the cost of a valuation. At this stage, your adviser can instruct a conveyancer on your behalf, if you haven't appointed anyone.
Mortgage underwriting and Valuation
At this step of the process, the lender will review all your information to make a formal decision on whether or not to offer the mortgage. You will need a valuation to be carried out, which the lender will arrange, but you can upgrade this if you would like a more in-depth report. This process can take anywhere from a couple of days to a couple of weeks, but you should be kept up to date with the progress throughout.
This is a really exciting step for any buyer and a positive step closer to owning the property, as the mortgage provider has agreed the requested loan. You’ll now be provided with an offer document and copies will be sent to all the relevant parties. The mortgage offer will generally be valid for 3 to 6 months and can usually be extended if required.
Behind the scenes your chosen conveyancer will be doing all the legal searches on the property, liaising with your lender, our team and the vendor’s conveyancer. They provide a hugely important part of the process, so it’s always best to choose someone you can trust. If you are unsure about which conveyancer to use, please let us know and we can recommend someone from our trusted network.
Exchange, Complete, Move in.
The exchange of contracts is the final commitment when purchasing your property and usually only takes place when the whole chain is ready and all legal work is complete. You’ll agree a completion date, which can be simultaneous or at a later date, and then finally you complete! This is when you pick up the keys to your brand-new home.
These guides are free to download and will give you more information about different aspects of buying a property.
Right to Buy
Buy to Let Stamp Duty
Freehold vs Leasehold
Help to Buy Equity Loan
*These downloads are provided by SortRefer. Our conveyancing partner*
It's always best to speak to a qualified adviser, however if you would like some more information, we have provided below some useful links to The Money Advice Service and our utilities provider.
This link will take you to the Money Advice Service. This service is government backed and unbiased. You will find plenty of useful tools and information to guide you with money matters.