The first thing to con­sid­er, as with any­thing 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