Buyer’s Guide

If you’re looking to a buy a new-build home then you’ve come to right place!
There are plenty of things to consider when buying a home so we’ve put together the key steps of the buying process to help you before you make that all important purchase.

Step one

Get your finances in order

 Get advice from a mortgage advisor about how much you might be able to borrow so you know what you can financial afford before you start your property search. A mortgage advisor can also help you with an agreement in principle (AIP) which you should consider getting at the off-set. This confirms that you are eligible for a mortgage ‘in principle’ and proof that you can afford the property.

Step two

Start your property search

Find developments in the areas you are keen to move to and do your research on what the area has to offer. Developers like us work with local estate agents who act on our behalf to the sell the property – so it is worth checking out the developer’s credentials and properties in the pipeline, as well as speaking with the estate agent representing them.

Step three

Making an offer & deposit

Once you have found the right home for you, make an offer, and don’t be scared to negotiate. Once an offer has been accepted you will be required to pay a reservation deposit (usually from £500 – £2000). This is generally deducted from the purchase price once you have completed. 

Step four

The legal stuff

Once your reservation deposit has been paid you are then committed to instruct a solicitor to deal with the legal side of your purchase. It is worth going by a recommendation and is especially handy if the solicitor has experience dealing with new-builds. They’ll also help negotiate the date you can get your keys and manage the funds to buy the property. Additionally, you’ll also need to get your mortgage in place, which your mortgage advisor will do.

Step five

Prepare to move

One of the benefits of investing in a new-build property is that there is no chain – which means the move in date could come quicker than expected. Your solicitor will keep you and your mortgage advisor up to date should there be any delays. A snagging survey will also be carried out so that any issues can be sorted as quickly as possible. Otherwise get ready to move and pack up your bits for the big day.

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