Find Out How Much You Can Afford
It is important to do this before you start searching for properties to make sure you are looking at properties within your price range. Speak to a mortgage advisor to help you with this. It is also important to factor in other fees included in the process such as stamp duty.
Research Properties
Now you know how much you can afford, make a list of the criteria for your ideal property such as location, style and size but remember it is always important to compromise so think about the things you are prepared to compromise on and the things you are not. At this stage it is also worth speaking to and registering with local agents as they will be able to let you know about properties before they are marketed on the internet.
View Properties
Once you have a list of properties that fit your criteria go and check them out! Sometimes properties that look good on paper turn out not to be the right ones for you so it is important to view them in person. If a property is not suitable for you then make sure you tell the agent why as this feedback can be important to the seller and will help the agent understand more about what it is you are looking for so they can let you know about any properties that are marketed in the future.
Make An Offer
Once you have found a suitable property now it is time to make an offer. At this point it is also worth speaking to a solicitor. Be sure to discuss things such as any fixtures & fittings that you want included in your offer and the timescales that you are ideally wanting to work towards. Upon making an offer the agent will ask you for proof of funds (mortgage in principle/cash) details of the solicitor who will be handling the conveyancing, ID and the chain details if you have sold your own property.
Conveyancing
Conveyancing is the legal action of transferring the title of the property from the seller to the buyer. Your solicitor will liaise with the sellers solicitor, making sure the contract is in order and applying for things such as searches.
Survey & Mortgage
Once your mortgage application has been submitted your lender will arrange a mortgage valuation to check the market value of the property. Assuming everything is in order and no problems are encountered during the valuation and application process then you should go on to receive your official mortgage offer. You can also arrange additional surveys such as a Homebuyers or Building survey which will help you understand whether any major maintenance or repairs are likely to be needed.
Exchange Of Contracts
This is the point where both the seller and buyer sign the contract, a deposit is paid and you are committed to selling/buying the property. A completion date will also be set.
Completion
Congratulations! Once the outstanding money has been transferred to the sellers via your solicitor you will get the keys to your new home! Now time to relax and enjoy!