Preparing yourself for the complex process ahead of stepping onto or moving along the property ladder will make the whole experience easier.
Find out how much you can borrow, and apply for a mortgage agreement in principle (AIP). An AIP is where a lender confirms that they would lend you an amount for a purchase, which provides reassurance to the seller and their agent.
Lenders may offer you up to 4 and a half times your salary, with factors such as your deposit (which should be at least 5%), credit score, income, outgoings and extra costs associated with the purchase having a bearing on how much you can borrow.
Viewing properties and making an offer
Viewing a property in person will help you come up with a realistic offer. Whether you offer at, below or above the asking price depends on a range of factors, including demand and whether you’re a first time buyer.
Contact a conveyancer or solicitor, and a surveyor
The conveyancer or solicitor will take care of the legal processes of the sale, while the surveyor will inspect the property to identify any defects and need for repair. A level 2 home survey is sufficient for most modern properties, but your surveyor will determine which is best. Moneyhelper has a guide on level 2 home survey costs.
Research removal companies and house insurance
Assuming the legal processes go without a hitch, you’ll need to have a reputable removal company and an insurer standing by. The insurance needs to start on the day of completion.
Exchange and complete
When contracts are exchanged between the buyer’s and seller’s solicitors, the buyer pays a deposit. Completion takes place around a fortnight after exchange, but the date can be agreed between the buyer and the seller.