Buying

We understand that every prospective buyer has their own individual wants and needs and appreciate the difficulties of searching for that special place to live. Here at Northover & Williamson we have properties ranging from studio flats to detached houses, so we’re confident we’ll have something to suit you.

Guide to Buying

To help you plan your first steps you can find below our brief buyers guide to assist you in your purchase process, from sorting your finances to exchanging of contracts.

Step One – Finance

One of the very first steps is to establish the amount of money you will need to save and what you can comfortably afford to borrow. You will require a deposit and generally, typically the more you put down as a deposit, the lower the rate of interest you will have to pay. A typical deposit would be 10 – 25 percent of the price of the property.

We can recommend a mortgage advisor to help you through this. The mortgage advisor will propose which mortgage will best suit your needs and situation. They will discuss and supply you with information about the mortgage recommended for you. Arranging an appointment with a mortgage advisor is the most practical way to do this. Your mortgage advisor will propose which mortgage will best suit your needs and situation.

Step Two – Finding the right property

Now you know your affordability it’s time to register and start looking for the ideal property. Once you have viewed and found the perfect property it’s time to put in and offer. Speak to you agent who will be happy to help with this.

Step Three – Making an offer

Once your offer has been accepted we will ask you to provide proof of your funding. For example, an agreement in principal from your lender if you are obtaining a mortgage, or evidence of you funds if you’re a cash buyer. We will also request to see evidence of your deposit monies. We may also ask to speak with your financial advisor to clarify the above.

If you need mortgage advice, we can put you in touch with an independant mortgage advisor to find you the best deal to suit your requirements.

Step Four – Arrange your mortgage

Make an appointment to speak with the financial advisor who will submit the application to the lender. At this stage you will also pay for the survey to be carried out.

Step Five – Appoint a solicitor

Once your offer has been accepted you will need to appoint a solicitor who will send you the necessary paperwork to start the buying process. Should you not have a solicitor in mind then we can put you in touch with one of our recommended solicitor’s to act on your behalf.

Once your solicitor’s have been instructed, we will issue a sales memorandum to all interested parties and start progressing your property purchase. Your solicitor will apply for searches and raise the enquiries with the seller’s solicitor.

Step Six – Your mortgage offer

When the survey has been done and the lender has concluded all of their checks and everything is adequate, they will send you a ‘mortgage offer’ which is a formal document confirming that your mortgage has been agreed. A copy will also be sent directly to your solicitor.

Step Seven – Exchanging Contracts

Once the solicitors have everything anserwed then they will look to exchange the contracts

Step Eight – Insurance

You will be required to have buildings insurance for the property, the insurance policy will need to be in place from exchange of contracts.

Step Nine – Preparing To Move

With the completion date agreed and approaching it’s now time to start thinking about arranging removal companies.

Step Ten – Completion

You’re almost there! Once all the above processes have been completed you can collect the keys and move into your new home. At the point of completion, your name will be registered with the land registry and you will have to pay stamp duty land tax. The solicitor will arrange this for you. At this stage, you may also pay transfer fees for transferring money from one account to another.