i-HouseBuyingServices.co.uk

Welcome To The House Buying Process Page.

If you are looking to buy a house for the first time then start by reading this usefull guide detailing the steps you need to take before moving into your first home.

1) Discover Your Budget - Work out how much money you can borrow. Use our Mortgage Calculator for a guide. Most lenders will consider 3.25 * Annual Income for single applicants and 2.75 * Joint Annual Inocme for joint applicants.

2) Search for a property - Look for estate agents offering properties within your local area. Use our website links on the left which have a list of estate agents in specific areas of the country. It can be worth registering with different estate agents and getting a list of available properties in the area and new houses on the market as the appear.

3) Make an offer - Make an offer on the property you are interested in. Your estate agent should be able to help you with this. Neither party will be bound legally to this offer until exchange.

4) Instruct a Mortgage Adviser / Lender - When you have found the property you require contact a mortgage broker like i-Mortgage Services Limited and they will give you free mortgage advice, source the best mortgage deals for your circumstances and process your application.

5) Arrange a Valuation - The mortgage lender will usually undertake a valuation of the property to see if it is worth the amount offered. It may also be worth arranging a survey on the property especially if the property is a period property. This more detailed survey may show evidence of building works being required and therefore may give you cause to renegotiate the price.

6) Receive your Mortgage Offer and appoint a Solicitor- Once the mortgage has been agreed you will receive an offer of advance from your mortgage company. At this stage you will need to appoint a solicitor to deal with the legal process. Search for a Solicitor in your area.

7) Exchange Contracts - At this point both parties exchange signed contracts and the property is the responsibility of the purchaser. They are now responsible for insuring the property even though they haven't yet moved in. Click on the link for House Insurance. It is also worth arranging your Life Insurance to protect your mortgage and any dependants.

8) Completion - When the mortgage completes the lender will arrange for the funds to be transferred to your conveyancer. You can now pick up the keys and move in to your new home.

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