Saracens Blog

Buying a house – a step by step guide

Mortgage Solicitor in London

Whether you are already on the property ladder or you are buying for the first time, Saracens Solicitors can help. As a leading mortgage solicitor in London, we provide a comprehensive service that benefits from long-term experience in the industry. We understand the whole process, including the emotional journey that buyers and sellers take during this kind of transaction. We do everything we can to provide a professional service that alleviates potential stresses.

In this, our step by step guide to buying a house, we detail exactly where we join the process when you engage us as your mortgage solicitor in London.

Budgeting

Most buyers need a mortgage to purchase a new property. In order to get one, you need either a cash deposit or funds from the sale of a current house. There are other costs involved such as survey fees, solicitor’s fees, removal costs and, in some cases, stamp duty. Ensure there is enough room in your budget for all costs that apply to your purchase.

Offer

When you have found a property that you want, make an offer on it through your estate agent. If that offer is rejected, you can make another bid or, perhaps, change the terms of your offer to sweeten it. Once your offer has been accepted, that is when you will need to engage a mortgage solicitor in London.

Instruction

At this point, you instruct Saracens Solicitors to manage the process of legally transferring ownership of the property from seller to buyer. This involves a lot of documentation such as contracts, questionnaires about aspects of the property and, eventually, transfer of the funds involved. We are with you up to the point where the keys are exchanged.

Survey

At some point in the process, you may choose to have a survey performed. This is optional but advisable, as you cannot always see everything you need to know about a property from a visual inspection. Your mortgage company will require the house to be valued but this is not a survey. You can have a simple survey or a more detailed one.

Saracens Solicitors does not actually perform or produce surveys but we can review them for you and negotiate terms based on the contents if you wish.



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