Woodhead & Co.,
32 Market Street,
Wellingborough,
NN8 1AT
32 Market Street,
Wellingborough,
NN8 1AT
Buying your new home is an exciting time! CONGRATULATIONS!
One of the things that makes it so special is that it doesn’t happen every day (or not even for several years for many!). But this means that the process isn’t always completely familiar, so here is a short guide on what you should do if you are thinking of buying a new home:
Unless you’re very fortunate, you’ll likely need to get a mortgage to buy your next home and it’s a good idea to see what your credit score is like. Using free services online can help you with this.
If you’ve got a good record, then excellent news. If not, don’t worry too much as there are ways to improve it. Speak to a financial advisor for more help with this.
A quick look online or a visit to a mortgage broker/financial advisor will give you an indication of what you can borrow for your next home. If you have a property to sell, the equity can be put towards your next home.
Try to avoid going to just your bank. Whilst they may be great, it’s always a good idea to see the whole market as you may be able to get a much better deal elsewhere.
With the help of your mortgage broker or financial advisor, you should now look at how much money you have to put towards the deposit and costs of moving.
Do you have savings you can get access to? An ISA to cash out? A loan from BOMAD (The Bank of Mum and Dad)?
Also, factor in the costs of solicitors, surveyors, moving costs (van rental/moving companies) and more.
This could play a major part in securing your next home. If you have a lot of equity in your existing home, this can go towards the deposit of your new home.
Always invite at least three estate agents to value your property. You can find some guides on our blog on how to choose and agent and how to make your property as attractive to potential buyers as possible!
How many bedrooms do you need? Does it need to be close to work, schools or train stations?
Have a look for properties in those areas to see if they match your budget. Better still, speak to a couple of local estate agents who will be able to help you (CAUTION: Many will just try to sell you properties that they have for sale themselves!)
Get Searching! With your valuation, your finances in order, a mortgage agreed and knowing what you are looking for and where, it’s now the exciting part!
Rightmove and Zoopla are probably the best tools available for house hunting, but that doesn’t mean you shouldn’t employ the personal touch. Speak to agents that cover the area you are interested in and let them know your requirements.
How much should you offer? This is something you should discuss with the agent.
I can’t stress this enough: A good agent is a negotiator, not a salesperson (click here to find out why)
They will help both sides find a middle ground that works for everyone.
Got your finances in place, got your mortgage, found the right property and now you’ve had the offer accepted. Excellent! Unfortunately, that’s not the end of it though. Paperwork, processes and dealing with solicitors is all to follow
The agent will be able to recommend a local solicitor if you don’t have one in mind. They will most likely have been tried and tested by the agent.
Your chosen solicitor will liaise with the vendors solicitor to do all the paperwork. They may have some questions to ask them so this can create some back and forth, but your solicitor is working to protect you from any hidden nasties.
Once this all sorted, draft contracts will be created for both sides to agree to.
In the meantime, be sure to get a survey. This will be a requirement of the mortgage lender but there are three different types:
Usually, a requirement of the mortgage lender that you have insurance in place. Comparison sites will be able to find you good deals here.
This means everything has been looked over and approved by the solicitors and mortgage lender and you’re good to go!
If you are part of a chain of properties, there needs to be everyone on the same page so transactions can go through at the same time.
This is when you legally become the owner of your new home!
Don’t forget to tell people you have moved. Banks, utilities, TV/broadband providers, schools, work, etc.
The best bit! Show off your lovely new home to your friends and family. Enjoy!! Buying your new home is an exciting time! CONGRATULATIONS!
One of the things that makes it so special is that it doesn’t happen every day (or not even for several years for many!). But this means that the process isn’t always completely familiar, so here is a short guide on what you should do if you are thinking of buying a new home:
Unless you’re very fortunate, you’ll likely need to get a mortgage to buy your next home and it’s a good idea to see what your credit score is like. Using free services online can help you with this.
If you’ve got a good record, then excellent news. If not, don’t worry too much as there are ways to improve it. Speak to a financial advisor for more help with this.
A quick look online or a visit to a mortgage broker/financial advisor will give you an indication of what you can borrow for your next home. If you have a property to sell, the equity can be put towards your next home.
Try to avoid going to just your bank. Whilst they may be great, it’s always a good idea to see the whole market as you may be able to get a much better deal elsewhere.
With the help of your mortgage broker or financial advisor, you should now look at how much money you have to put towards the deposit and costs of moving.
Do you have savings you can get access to? An ISA to cash out? A loan from BOMAD (The Bank of Mum and Dad)?
Also, factor in the costs of solicitors, surveyors, moving costs (van rental/moving companies) and more.
This could play a major part in securing your next home. If you have a lot of equity in your existing home, this can go towards the deposit of your new home.
Always invite at least three estate agents to value your property. You can find some guides on our blog on how to choose and agent and how to make your property as attractive to potential buyers as possible!
How many bedrooms do you need? Does it need to be close to work, schools or train stations?
Have a look for properties in those areas to see if they match your budget. Better still, speak to a couple of local estate agents who will be able to help you (CAUTION: Many will just try to sell you properties that they have for sale themselves!)
Get Searching! With your valuation, your finances in order, a mortgage agreed and knowing what you are looking for and where, it’s now the exciting part!
Rightmove and Zoopla are probably the best tools available for house hunting, but that doesn’t mean you shouldn’t employ the personal touch. Speak to agents that cover the area you are interested in and let them know your requirements.
How much should you offer? This is something you should discuss with the agent.
I can’t stress this enough: A good agent is a negotiator, not a salesperson (click here to find out why)
They will help both sides find a middle ground that works for everyone.
Got your finances in place, got your mortgage, found the right property and now you’ve had the offer accepted. Excellent! Unfortunately, that’s not the end of it though. Paperwork, processes and dealing with solicitors is all to follow
The agent will be able to recommend a local solicitor if you don’t have one in mind. They will most likely have been tried and tested by the agent.
Your chosen solicitor will liaise with the vendors solicitor to do all the paperwork. They may have some questions to ask them so this can create some back and forth, but your solicitor is working to protect you from any hidden nasties.
Once this all sorted, draft contracts will be created for both sides to agree to.
In the meantime, be sure to get a survey. This will be a requirement of the mortgage lender but there are three different types:
Usually, a requirement of the mortgage lender that you have insurance in place. Comparison sites will be able to find you good deals here.
This means everything has been looked over and approved by the solicitors and mortgage lender and you’re good to go!
If you are part of a chain of properties, there needs to be everyone on the same page so transactions can go through at the same time.
This is when you legally become the owner of your new home!
Don’t forget to tell people you have moved. Banks, utilities, TV/broadband providers, schools, work, etc.
The best bit! Show off your lovely new home to your friends and family. Enjoy!!
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