What is the home buying process?
• Your first point of call is to arrange the Agreement in Principle as mentioned earlier. • You will need to find a suitable property. • The estate agent will ask you how much you are willing to offer to buy the property. • Once your offer is accepted you will need to contact your Independent Mortgage Adviser so that he/she can start arranging your mortgage for you. • You will then need to find a solicitor that will arrange all of the legal work for you. It is recommended to get a few quotations from a handful of solicitors as their fees do vary quite considerably. • Once your mortgage application has been signed off (underwritten), an ‘Offer Letter’ will be sent to you which states the terms and conditions of the mortgage. Sometimes you will need to sign the offer letter to show that you have accepted their terms. • Your solicitor will then arrange for you to ‘Exchange Contracts’. Once you have exchanged contracts, both you and the vendor (the seller) cannot pull out of the sale. • Th
