FAQs

You being really organised with your paperwork helps us enormously. Source of funds can sometimes cause a bit of a stumbling block. We understand that it feels like you are providing a lot to us but 6 months worth of bank statements showing where the monies you are contributing are held, together with 6 months statements for any accounts that have paid into your account (e.g. if your deposit is in your savings and you have transferred money in from your current account we will need 6 months of both accounts) are required.

Also for a sale or a purchase we will need ID from you, so make sure you have downloaded a utility bill recently and your passport/driving licence is in date.

There are many hurdles to jump when you’re purchasing a new home.

1. Know the true costs and set a budget. Don’t just save for a deposit; budget for the whole buying process including surveys, searches, land registry, mortgage arrangement and legal fees, stamp duty, removal and furnishing costs and any potential repairs. And, if you’re buying a leasehold property, remember to factor in service charges and ground rent.
2. Get an ‘Agreement in Principle’ before making an offer. Talk to a mortgage adviser about mortgage deals, then get an 'agreement in principle' from a mortgage lender – it could give you the edge on buyers without one.
3. Consider your options - if you are a first time buyer, it’s well worth exploring the government’s first time buyer initiatives.
4. Appoint an experienced lawyer - a good lawyer will manage the legal side of house buying and ensure everything goes smoothly.
5. Get first dibs – ask local estate agents to call when suitable properties are about to come onto the market, that way you can book one of the first viewings.
6. Ask questions – find out as much as you can about the area and the property, including how many viewings and offers it’s had - it helps when it comes to negotiating.
7. Be realistic about timings – local searches can take up to 18 weeks and if you’re in a chain, not everyone will be ready when you are.
8. Commission a full property survey – it's different to a valuation survey and will flag up any problems that could cost you later down the line. Your lender may require you to use a specific surveyor.
9. Get insured – find a comprehensive building insurance policy with no onerous restrictions they can impose if, for example, you’re purchasing in a flood risk area.
10. Draw up a Will – if you die, you'll want your assets (including your home) to be distributed to your loved one. Ask a lawyer to help you draw up a legally binding will.