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When should I set up my mortgage?

You should aim to have an agreement on principle (AIP) from your chosen lender before you start your property search. This will help you to understand what properties are in your immediate price range and you will be taken more seriously when you do offer.

How much deposit will I need?

Deposit size will vary depending on the lender and the mortgage product you choose. We would suggest speaking to an independent mortgage advisor, we recommend Instant Mortgages who can advise you on the best mortgage to suit you.

When will I need a solicitor?

Once an offer has been agreed you will need to instruct a solicitor to handle the conveyancing. We can not stress enough how important your choice of solicitor is to the transaction. We would always suggest using a company that has been recommended to you

Will I need a Survey?

Although you are not obligated to have a survey it is generally recommended to do so. If you are buying a property with a mortgage, then the lender will carry out a Valuation Survey to ensure that you are paying the correct price for the property. A Homebuyers and Building Survey is more detailed and will highlight problems in the property that may need further investigation. Additional surveys such as timber and damp, electrical or structural surveys can be carried out following this report.

How Long Does the buying process take?

The average purchase will generally take between 6-12 weeks before all parties are ready to exchange. A freehold transaction is usually quicker than a leasehold, but each can vary greatly. We will be on hand to ensure that everything is done to meet your preferred timelines.

What is Exchange and Completion?

Exchange is when your purchase becomes lagally binding. You will lodge a deposit with your solicitor, this is normally 10% of the purchase price, unless otherwise agreed. When you exchange a completion date is agreed throughout the chain and this is the date you will become the legal owner of your new home. Abode will arrange for the collection or delivery of the keys once the completion funds have been received.

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Call us on 0208 506 5858 or send us a message...