Working out how much you can afford

Speak with a financial advisor to get accurate advice on borrowing and mortgage rates.  If possible try to get a ‘mortgage agreed in principle’ so when you f ind your ideal property you can then move quickly.  It is always sensible to speak with an independent f inancial advisor who has access to a range of products across the whole mortgage market.

In short, be open minded. Not all properties are on the internet.  If you haven’t taken the time to register with individual firms of estate agents, then it is likely that you will be missing out on properties that never make it as far as the newspaper or online property portals.

Other expenses to factor into your budget

• Stamp duty. This is a tax paid by the purchaser and will be collected by your solicitor and paid directly
  to the government. To get an idea of the amount of stamp duty payable on a given purchase price,
  see this handy stamp duty calculator.
• Solicitors fees
• Estate Agents fees (if you are selling)
• Survey costs
• Mortgage costs
• Removal costs

Viewing properties

The more properties you view, the more you learn about what is important to you as a buyer. So get
out there and make a few appointments! You can get a good understanding of an average sized family home in about 15 minutes. If the house is of interest, you can always make further appointments to come back for a more detailed inspection. 

Making an offer

The more information you can provide, the stronger your offer will appear. Within the offer amount, how much will be cash and how much will be finance? Is the offer subject to you selling a property or can you move straight away? What sort of time frame can you work to and are you able to be flexible?

Most offers are subject to survey. If issues are raised on the survey that weren’t apparent when you inspected the property, then you may feel the need to renegotiate. The seller will need a valid reason to convince them to make a reduction on a previously agreed sale price. Every negotiation is different and
this is where you will benefit from the agents experience.