We at Residential Links take great time to sincerely understand your property requirements and needs, enabling us to match you with your ideal home or investment property.
Our dedicated team of experts who have an exceptional level of experience and knowledge within the industry and local area, are always available to guide you through any enquiries from the buying process to completion.
Mortgage in Principle
A good credit rating is essential for a mortgage offer when buying a house. Ensure to check your credit report before approaching a lender. The next step will be to contact a mortgage broker, lender, or independent financial adviser to decide the best type of mortgage for your personal circumstances. At Residential Links, we have built relationships with some of the best financial advisers and mortgage brokers in the industry, so we can seek advice from the best professionals to assist you with your property purchase.
Once you have selected and agreed on a product 'in principle', the lender will inform you of how much they are prepared to offer and the level of interest you can expect to pay. If you are struggling to buy a new build London property, the Government's ‘Help to Buy Scheme’ can cover up to 40% of the cost. All you need is a minimum of 5% deposit and a 55% mortgage to make up the rest.
Once your 'offer in principle' is in place, you can begin viewing properties for sale in London. At this point, you will need an estate agent you can rely on to find your ideal property and close the deal.
Before you arrange an appointment to view a property, ensure you are aware of the property location and observe the outside first considerably to avoid booking an appointment only to find on arrival that the property is too far away from specific amenities, or you do not like the immediate surroundings.
First impressions count. When you view a property, you will likely know momentarily whether it is of any interest. If it is, you will want to take a good observation of the property and if necessary, arrange with the agent to go back for a second viewing. But remember, there may be other interested buyers so do not delay, avoiding any disappointment and losing out.
Additionally, it is also important to bear in mind that if the property IS what you are looking for, do not hold back from making an offer just because it is one of the first you viewed – you may regret that and experience difficulty in finding a more suitable place to buy.
Once you have found your ideal home you will not want to lose it. Make your offer promptly through the selling agent and in writing. If you are selling your own property at the same time, you should have full details ready to provide to the agent so they can evaluate the reliability of any related sale in the ‘chain’. You should be able to provide suitable evidence (for example, mortgage agreement in principle) of available funds to substantiate your offer.
Whether you are a first-time buyer moving out of the nest or an investor looking to add to the portfolio, it is vital to have the security of a professional property lawyer working on your behalf to ensure everything progresses as swiftly as possible, whether you have one to hand or would like to be recommended to our panel of conveyancing solicitors to guide you through the sale process.
Exchange of Contracts and Completion
Once you have exchanged contracts, ensure the property is fully insured. You will need to notify the utilities companies of the completion date (this will have been agreed and written into the contract), as well as the local authority to arrange future council tax payments. It will be wise to make a full list of all service providers you will need to notify.
If you are required to pay a balance of purchase monies to your conveyancer, ensure you arrange for them to receive cleared funds in time for completion.
Remember, we are here to assist you with your purchase the best way we can and will help take care of any enquiries which may arise during the exchange of contracts and completion – at which point, you will receive the keys and we wish you good luck and enjoyment in your new home!