The House Buying Process
Embarking on the journey to purchasing your first home is an exciting milestone, but it can also feel overwhelming. At Castle View Finance, we’re here to guide you through each step of the process, ensuring a seamless and stress-free experience. Our comprehensive step-by-step guide will give you a clear understanding of what to expect as you navigate the road to homeownership.
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1.
Understanding Your Costs: Before diving into your home buying journey, it’s essential to grasp the financial aspects involved. From legal fees to removal costs, knowing your expenses upfront can prevent surprises later on. To read more about these costs, visit our post here.
2.
Discover Your Borrowing Power: Begin with a discovery session at Castle View Finance, where we’ll review your financial circumstances and help you understand your borrowing capacity. Our expert advisors will guide you through obtaining an Agreement in Principle (AIP) from a suitable lender, empowering you to confidently explore property options.
3.
Begin Your Property Search: Armed with your mortgage agreement in principle, kickstart your property search with confidence. Reach out to your advisor for valuable tips and insights on finding the perfect home for your needs.
4.
Make an Offer & Sale Agreed: With a decision in principle secured, it’s time to make an offer on your dream property. We’ll work together to ensure your offer aligns with your budget and goals. Celebrate a significant milestone as the sale is agreed, subject to contract.
5.
Secure a Solicitor: Partner with a conveyancer to handle the legal aspects of the purchase, ensuring a smooth transition to homeownership. We can refer you to trusted solicitors to streamline the process.
6.
Mortgage Application and Processing: Upon offer acceptance, Castle View Finance will assist you in submitting the formal mortgage application and guide you through the process. We’ll also discuss essential protection measures to safeguard your investment.
7.
Survey, Valuation & Conveyancing: Arrange for a survey and valuation of the property to assess its condition and worthiness as collateral for the mortgage. Simultaneously, initiate the conveyancing process with your chosen solicitor, addressing all legal requirements promptly.
8.
Seller’s Solicitor Drafts Contract: The seller’s solicitor will draft the contract, paving the way for the legal exchange of property ownership.
9.
Seller’s Solicitor Drafts Contract: The seller’s solicitor will draft the contract, paving the way for the legal exchange of property ownership.
10.
Legal Process and Completion: Finalise your mortgage offer and insurance policies as we progress towards completion. Castle View Finance will ensure all financial and legal matters are in order for a seamless transition to homeownership.
11.
Final Steps to Completion: Navigate through the remaining steps, including property confirmation, searches, insurance activation, contract signing, exchange of contracts, change of address notifications, removals, and, finally, completion!
Discover Expert Tips and Insights
This may seem daunting, but Castle View Finance is here to guide you through the entire process. We’ve put all of our knowledge in our guide to the home buying process – so you can highlight it, tick the steps off or cross things out. Our comprehensive guide covers it all, empowering you to make informed decisions every step of the way.
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