Buying a property is a big step involving a substantial long-term financial commitment, so think hard about what you can afford. You will need to consider the assets you have - like savings - as well as the money that's coming in and going out.
Although it may reduce your buying options, you don't want to commit to a mortgage and then realise you can't afford some of the nicer things in life! It may sound obvious but take time to think of all the things you spend money on throughout the year, even without a mortgage.
We have qualified experienced people who can assist you in finding the right mortgage for you, just ask and we would be delighted to help.
Because of the credit crunch, it is vital that you secure a mortgage with a lender before starting the searching process. This way, when you find the right property, you will avoid being beaten to it by another buyer and you will also be in a much stronger negotiating position.
You will need to consider what aspects of a property are most important to you:
- number of bedrooms / bathrooms.
- parking provisions.
- separate kitchen and dining room.
- private garden.
- how much time/money you may want to spend redecorating etc.
Once you have found the property of your dreams, the next step is to make an offer. It is important to consider a variety of factors when choosing your price level in order to achieve the right deal for you. Take a step back to logically look at all the things that matter before making your offer.
First time buyers, buyers with no chain and buyers who have pre-arranged mortgages have a head start on most of the competition. If this is you, then make the agent and seller aware of this, as this can put you in a very favourable negotiating position, especially if the seller is in a chain.
Now to instruct a a Conveyancer
Tips for choosing and using a conveyancer
Get at least three conveyancers' quotes well before you start looking for property. Ask friends, family and your estate agent for recommendations.
- Tell your conveyancer if you want answers to any specific questions in advance.
- Let them know when you would like to exchange contracts and complete. Tell them you will require regular updates of how the purchase is progressing.
- Try to negotiate a no sale - no fee deal, so if the deal falls through you don't pay anything.
- Check and compare quotes carefully making sure they are like for like. Decide if you also want the conveyancer to arrange an Environmental Search, which will give information such as flood risk, radon levels and local mines in the area.
Here at Kernow's we can again help and assist you in finding a conveyancer, just ask and we would be delighted to help.