A quick guide to the stages of a getting a home

Buying a  home is no easy task and given the changing nature of the UK housing market that’s certainly true. The days of interest rates below 5 percent seem to have gone, for now, so this makes it even harder. Here is a quick guide to the process.

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  1. Get a deposit. Most lenders will look to ledn up to ninety percent of the properties value. You have to provide the other ten percent. For example the average UK house price is current £294,559. This means that you need to have at least £29,459 pounds saved. There are scheme like help to buy and some where the bank will lend up to ninety five percent of the homes value.
  2. Find a place. Have a list of must haves for the home and then nice to haves. If it ticks the boxes then go for it.

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  1. Get a mortgage. You can do this through a broker, which may cost, or even the estate agent. Alternatively you could contact the lender directly. They will give you a mortgage promise as to what they could potentially lend. You can then put in an offer for the house.
  2. Complete a needs and circumstances conversation with the Mortgage advisor. They will look at all your income and outgoings then suggest a rate and a term based on your budget.
  3. Instruct someone like montpellier.legal, a Conveyancing Cheltenham based company, to do your legal checks and survey.
  4. Hire a moving van/company and move in to home when it completes.

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