Essential tips for first time buyers

Buying your first home together is an exciting moment. What’s the best way to harness that excitement and pave the way for a smooth journey?essential tips for first time bueyrs from conveyancing experts

Finding the one

Online property websites will allow you to view what is available in your budget.  Drive around different streets and look for ‘For Sale’ and ‘Sold’ signs as this may help you decide which estate agents to register with.

TIP: A good estate agent will alert you once a property is available with the right criteria for you.

Obtaining the finance

Find a financial advisor/mortgage broker or contact the bank or building society directly so that they can assess what you can afford with the best mortgage option. You will be given an Agreement in Principle (a mortgage promise).  This is confirmation of how much your mortgage lender is prepared to lend to you to buy your property.

TIP: Ensure you have the funding in place to buy your ideal property.

Costs and fees

There will be costs involved with buying your new home. Your outgoings will not be limited to your deposit. Budget for fees and costs include: house survey, valuation, land registry, property searches, mortgage lender/broker, conveyancing and removal.

TIP: Remember to allow for the long term running costs of your new property, plus any ground rent and service charges that are associated with a leasehold property.

Your conveyancer

During the purchase process you will be talking to your conveyancer - a lot! There will be phone calls plus emails during the transaction process.  Finding a conveyancer you can trust and comes with recommendations will be a good starting point. You should have confidence in your conveyancer to ensure your property purchase is as smooth as possible. Be prepared for some form filling and information gathering, too.

TIP: Ask for a free conveyancing quote plus check if it covers fees and disbursements.

Talk through any concerns with your conveyancer. Finding the right conveyancer for you should feel like the welcome home you’ve been looking for.

Call the conveyancing team on 0113 320 5000 to talk about buying your first home.
 

READ MORE: How should you decide between a Joint Tenancy and a Tenancy in Common.

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