The first thing to consider, as with anyhting you wish to buy, is how you are going to fund it.

You either need to research & apply for mortgages yourself, or instruct a mortgage broker to do so on your behalf. The latter will involve a fee but will take away some of the administration and stress of doing it for yourself.

Survey

Once your mortgage is selected & you have formally applied for your mortgage, the lender will ask for a fee to instruct their survey and valuation.

It is at this point you need to consider your own survey. Whilst the lender will carry out a survey & valuation on the property, this is usually only for lending purposes & will not be in sufficient detail for you to detect any defects. You will only learn of major defects by way of a down valuation.

Some lenders will allow you to ‘piggyback’ their survey & valuation by paying a fee for your own report. The other option is to instruct your own surveyor. Whilst undoubtedly an extra expense, it is likely your home will be your biggest ever purchase & therefore you should be cautious in approach.

Legals

You now need instruct a Solicitor. Your lender may suggest a company but as long as you pick somebody on their authorised panel, you may choose who you like. The latter option is usually preferential because you can research & ask friends for recommendations.

Once you have instructed your chosen Solicitor & provided the necessary documentation including the necessary ID, your Solicitor will order searches based on the Contract & supporting documentation.

Once searches are received, your Solicitor will prepare your report & raise enquiries (legal questions).

Once all the legal work is completed & your mortgage offer has been issued, you will be ready to exchange contracts & then complete. For more information about the buyng process, please click here

To arrange a discussion about Residential Conveyancing, please get in touch with Rick Barrow on 01625 523988 or mail@jbgass.com