First time buyer looking to get on the property ladder?

The first-time buyer market is seeing an uplift in new buyers making steps to get onto the property ladder in 2024, so if you’ve now decided that buying a property is the right thing for you to do, it’s useful to understand the process and what lies ahead. This brief guide will take you through all the steps involved in buying a property and help you through the maze of options. A simple timeline of what needs to be done in the process is as follows:

-          Decide what sort of property you’d like to purchase and ideally where.

-          You can register your details with our sales team and online with Rightmove to be alerted when new suitable properties first come onto the market or when they are reduced in price.

-          Work out how much money you will be able to spend by arranging to meet our experienced mortgage adviser James Homer of Forest Hall Financial Solutions. James can advise you on how much you can borrow, the best mortgage terms and options available and check the whole of the market for the best possible deal available for you.

-          When you have a mortgage agreement in principle start viewing properties to find your first home as the actual home owner!

-          Find a suitable solicitor to complete the legal work for you. Beadnall Copley can recommend local or national firms to suit your needs and budget – just ask our sales team for more details.

-          Submit your offer of the right property with the aim of agreeing a sale.

-          If your offer is accepted you’ll need to submit your mortgage application – or James Homer can do this for you if you’ve decided to use his services.

-          Let your solicitor work through the conveyancing process.

-          Arrange for a survey to be done to check the condition of the property. Your mortgage lender will do a valuation survey as part of the application however they won’t fully check the condition so you should consider paying for a full survey. Again Beadnall Copley can recommend a local firm of surveyors to you – just ask our sales team for more details.

-          Wait for your confirmed mortgage offer to arrive.

-          Review the report about the property you will receive from your solicitor.

-          Send the deposit funds to the solicitor.

-          Arrange insurance.

-          Exchange contracts which binds both parties to the contracts and sets the completion date – that’s the date you can move in.

-          Completion takes place and the property is now yours.

 

If you have any queries about any of our properties for sale and/or the buying process you are very welcome to speak to a member of our friendly sales team – we’re always happy to help at Beadnall Copley.

 

Important note: There will be additional fees to pay for using a mortgage broker, solicitor/conveyancer and surveyor and you should enquire with the suppliers of those services direct to ensure you understand the charges payable by you. Your home may be repossessed if you do not keep up with your mortgage repayments. Beadnall Copley may receive a small fee for introducing you to our recommended suppliers.