Searching for a property brings with it a mixture of excitement, disappointment, highs and lows, and can often be an anxious time for buyers. At Shuttleworths we aim to assist you in every way we can. We will aid you in your search whether it is your first home, up-sizing, downsizing, a new build or a buy-to-let investment.
Whether you are starting out on your journey or have been searching for a while, speak to us to find out how we can help and of course what properties we have available.
Buying Property - A simple guide to the process
Area - Location, location, location! Think about what is really important to you - proximity to travel links, schools, nurseries or just a good selection of amenities on your doorstep.
Style & Size - Flat or house, modern or period? How many bedrooms? Do you need a spare room or would you benefit more from greater living space? Is outside space a necessity? These are just a few of the questions to be answered.
Financing Your Purchase - When you have found the right property you will want to act quickly, so having your finances in order is of paramount importance. We can recommend mortgage advisors who have access to many mortgage and insurance products and who will provide you with a speedy initial appraisal.
Securing Your Purchase - Once the offer has been agreed between you and the vendor, you will instruct a solicitor to cover all legal aspects relating to the purchase. If you do not have a solicitor, we can happily recommend one to you that we know and trust. As soon as your offer has been accepted you and your mortgage advisor will complete and submit your mortgage application.
The Conveyancing Process - In brief, the seller's solicitor and your solicitor will oversee the legal transfer of the property to you. This involves having the title transferred into your name. This process can take some time as there are many searches and checks that need to be made before the process can be completed. It is imperative that you do not just consider cost when appointing a solicitor. What seems to be a cheap price can often cost you more! In some cases it has resulted in the loss of the sale.
Valuation Of The Property - Before your mortgage provider agrees to lend on the property they will arrange a mortgage valuation in order to ensure that the property you are buying offers good security for the loan you are taking on. Your lender will issue you with a formal mortgage offer detailing the full terms of the loan when they are satisfied with the mortgage valuation. Your solicitor will also receive a copy of the offer. As an additional precaution you may wish to instruct a HomeBuyer Report or building survey in addition to the mortgage valuation as the mortgage valuation will not list repairs required and is for the benefit of the lender. Surveys are particularly important if you are not having a mortgage.
Exchange Contracts - Once the searches have been received, any queries dealt with and the mortgage offer received, you will exchange contracts legally binding on both sides. On exchange a deposit will be sent by your solicitor to the seller's solicitor.
Completion - At exchange the solicitors will have agreed on a completion date. Completion is when you can move into your home and you can begin to make it yours.