Our First Time Buyers’ guide offers help and advice for those looking to get on the ladder and buy their first home. What follows below is a précis of the guide.

1) Define Your Buying Power

Before you start looking for a property speak to a mortgage consultant who advises on mortgage products across the whole of the market and find out from them what you can realistically afford to buy. Obtain a mortgage offer in principle.

2) Find the Right Property

Register with all the local Estate Agents and on Rightmove’s website search facility so that you automatically receive details of suitable properties which are new to the market.When
viewing properties ask the Estate Agent questions such as:
• How long has the property been on the market?
• What position are the owners in?
• What level of offer might the owners consider?
• What is included in the sale?
• Is the Agent aware of any problems with the property?

3) Secure the Property

When you have found a property that you like, try to look at it more than once and at different times of the day. Don’t be hurried into making an offer, but equally don’t take too long, otherwise you may lose out. Ask the Estate Agent for access to the Home Information Pack. When you are ready to make your offer, speak to the Estate Agent and make clear:

• What position you are in (e.g. you are a first time buyer).
• That you already have a mortgage agreed in principle.
• That you want to have a response from the owner as quickly as possible.
• What you understand to be included in your offer (eg. shed, cooker, carpets).
• That should your offer be accepted, you expect the property to be taken off the market immediately.

Having had your offer accepted, the guide offers additional advice on choosing Solicitors, deciding which survey to have, how to progress your mortgage application and how to speed up the conveyancing process to help get you into your new home quickly.

For more information, call your local office and ask for our First Time Buyer guide to be sent to you.

This entry was posted on Monday, October 5th, 2009 at 1:32 pm and is filed under Recent News .