A Simple Guide to Buying a Property

1. Work out a Budget and Choose an Area

First, you will need to think about how much you can afford bearing in mind one of the costs such as your deposit, stamp duty and conveyancing fees. Then you need to decide the type and style of property you are looking for, such as: house, flat, how many bedrooms you need or how much space you want.

Next, consider which area you’d like to live and then see what property prices are like in these areas. Alternatively, you can also speak to us regarding property prices and also put you in touch with landlords in the area.

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2. Arrange a Mortgage

Ideally, before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed in principle. Our mortgage partners have access to the latest deals from a wide range of mortgage lenders to help find the package that best suits your needs.

3. Register your Interest

To register, you can either call or e-mail us. Let us know what you’re looking for and where, and we’ll notify you by phone, e-mail or text of any properties that fits your criteria as soon as they come on the market. You should also keep an eye on our property listings page and the main property websites, such as: rightmove.co.uk and zoopla.co.uk.

4. Viewings

If you find a property that you like, you can arrange a viewing with the landlord. If you find a property advertised by Frittons, we’re open 6 days a week and can accommodate viewings outside of work hours to suit you. We will accompany you throughout so that we are on hand to answer any questions immediately and advertise where necessary.

5. Make an Offer

When you’ve found a property that you like, you can make an offer. We will pass on your offer to the landlord, including any conditions you may have. We will negotiate this offer on your behalf. You may be asked to provide evidence that you have the required financing. There is no binding agreement at this stage.

6. Appoint a Solicitor

Once you’ve has an offer accepted, you should appoint a property solicitor. We have several that we can recommend. They are responsible for carrying out the legal work involved in buying a property. It’s a good idea to use a solicitor who knows the area that you’ve moving to.

7. Arrange a Survey

Your mortgage lender will require a mortgage valuation to be carried out and it is also advisable to get a survey done as well. These reports are designed to advise the mortgage lender on the property’s value and to identify any structural or other problems. After the mortgage valuation has been received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign.

8. Exchange of Contracts

Once your mortgage offer has been given, your solicitor has received answers to any queries that have been raised, the local searches are back and evidence of title has been obtained. You and the seller should be ready to sign the contracts. You will be required to pay a deposit of 10% of the property price at this stage.

9. Completion

After the legal work is complete, your solicitor will arrange for your mortgage company to transfer the rest of the money to the seller’s solicitor. When this is done, the property belongs to you and we will then release the keys to you.

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