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  • Writer's pictureHexagon FS

Home buying in just 10 easy steps

So you're thinking about buying a new home - how exciting!

Although this is a really special moment, it can also be daunting and overwhelming especially if this is your first time. In the notes below we explain the 10 key steps that every home buyer goes through to help get you up to speed. We'll explain this as simply as possible but don't worry if you still have questions or you'd like to know something in more detail. That's what we're here for - just give us a call on 01635 745025.

Step 1 - Think about what you want but be realistic

Online affordability calculators are a quick and easy estimate of how much you could afford to borrow. It will simply subtract your outgoings from your earnings and tell you what you have left at the end. They are not particularly complex but are a good starting point for most cases nonetheless. We will fully assess your financial situation in more depth, taking into account your lifestyle and finer details to ensure you don't overstretch yourself.

Step 2 - Get in Touch

Call us on 01635 745025 or email to arrange a meeting. We’ll ask you to complete some initial information to help us get to know you better. This will also allow us to process your application efficiently.

Step 3 - Meet with your Adviser

Arrange a first meeting either face to face or over the phone to discuss your individual situation. We will send you a detailed recommendation for you to review and confirm if you're happy with the advice.

Step 4 - Get Pre- Approved

Complete an initial credit check (also known as a DIP - Decision in Principle/ AIP -Agreement in Principle) to ensure you have the required credit check score to get the mortgage you're looking for. This certificate will tell you how much money the lender is willing to offer and the interest rate you’ll pay. We recommend this is done before you find the perfect house to ensure you're not disappointed later on in the process.

Step 5 - Go House Hunting

Now for the fun part!

Step 6 - Make an Offer

Once you’ve found a home you want to buy, the next step is to make an offer, usually through an estate agent. Once your offer has been accepted, contact us to discuss the next steps.

Step 7 - Arrange a Solicitor

Instruct a solicitor to complete all the legal checks on the property and advise you on any issues that may arise.

Step 8 - Finalise your Mortgage

Supply up to date documents and property details to us and we will go into full underwriting on the mortgage.

Step 9 - Exchange and Complete

You're almost there! Once legal work is complete you can exchange contracts and commit to the sale. Before signing the contract, go through it with your solicitor to check that all the details are correct. We will ensure that all your insurance, including home insurance is in place. You'll arrange your completion date through your solicitor.

Step 10 - Welcome to your New Home

All that's left to do is move in and enjoy. We'll be here all the way and look forward to supporting you when you next decide to up-size, down-size, invest or sell.

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