Step 1 - Arranging a mortgage
Before you begin your property search, it is
advisable to arrange your finances and, if required,
have a mortgage agreed in principle. This will confirm
how much money you will have to fund the purchase,
which will ultimately influence your property search.
FBM are pleased to introduce Mortgage Advice
Bureau (MAB) to our customers. Lisa
Bradley from MAB can take a look at your
current finances and, using a monthly budget
calculator, work out what's coming in and what's
going out, then offer independent advice on a
huge range of mortgage products and get a solution
which suits your individual needs. Lisa can
also explain how you're affected if the interest
rates change (up or down!) and point out the other
costs involved in buying - such as stamp duty - so
there's no nasty surprises along the way. She can
even help with insurance for you and your new property.
Step 2 - Register with us and start looking!
Now you know eactly how much you can afford,
it's time to register with us by calling one
of our offices or visitng for an informal chat
and a coffee... We'll need to discuss
your property requirements, such as; how many
bedrooms do you need or want? Parking? Garden?
Would you consider a property in need of renovation?
There will be many points regarding the house and
the area that are personal to you but its certainly
worth narrowing things down as much as possible before
you embark on your viewings. By pointing out your
criteria to our sales team, we can ensure that we
only inform you of properties that will be of interest
to you. It may also be useful to collate a ‘Viewings
checklist’ which you can take with you to each viewing.
Once we have a clear understanding of your
requirements you will receive a selection of
properties that match your criteria. We can
also keep you constantly up-to-date via email
and SMS alerts when the latest properties become
With over 500 properties to choose from you
can rest assured we have just what you're looking for.
Step 3 - Viewing
We're open at times to suit you, convenient
for viewing after work and at weekends: Our
offices are open 9am-5pm Monday to Friday and
9am-4pm Saturdays. In addition, our phone
lines are open 8am-8pm, 7 days a week.
In order to secure a property we recommend an early viewing.
We will even chauffeur you to your viewings
ensuring you arrive in a relaxed frame of mind
and accompany you throughout so that we are on
hand to answer any questions immediately and advise
Step 4 - Instructing a solicitor
It's also now time to touch base with a solicitor. If you’re not sure, here’s a quick guide as to what a solicitor will do for you…
- Obtain sellers’ responses to questions,
such as who owns the boundaries,whether
they have had any disputes with neighbours
and what fixtures and fittings are included
- Check copies of any guarantees on the property,
details of planning permissions and building
- Check the seller really is the owner of
the property and prepare a Report on
Title for you
- Check local authority searches and plans
for the local area
- Pay stamp duty tax on the property on your behalf
- Arrange registration of title in your name
Sorting out all the paperwork can take anything
from 6 to 12 weeks after your offer is accepted – even when
there’s no chain – so be patient!
Step 5 - Making an offer (Fingers crossed)
Once you have identified a suitable property we
will put your offer forward to the seller both
verbally and in writing stating any special
conditions of the offer. You may need to demonstrate,
if requested, that you are able to proceed
(e.g. provide evidence of your mortgage agreed
There are no legal obligations on either side
until contracts are signed.
Step 6 - Offer accepted....!
Once the seller has accepted your offer, ask
them to take it off the market. They don’t have
to agree to this but if they do, it will deter
other potential buyers.You’ll need to get your
mortgage application form completed and send
whatever documents they need – your Mortgage
Adviser will assist you with the process.
The lender will arrange for a valuation to
be carried out on the property. Once the
lender has all the valuation and survey
information, they will then confirm the
amount they’re prepared to lend you against
After the mortgage valuation report is received,
a formal mortgage offer will be sent to you and
your solicitor which you will need to sign before
it is returned. There are no legal obligations
until contracts are signed.
Step 7 - Exchange of contracts
Exchange of contracts occurs when all enquiries
have been confirmed and agreed. Once the contract
has been signed by both parties the deposit
(usually 10% of the purchase price) will be
telegraphically transferred or paid in the
form of a banker's draft from your solicitor
to the seller's solicitor. The completion date
is then set by mutual agreement.
Step 8 - The Big Day !!
Completion is when the residual monies (usually 90%)
are transferred from your solicitor to the seller's
solicitor's account. We will release the keys once the
money has cleared in the seller's account.
Congratulations, you are now the legal owner of your new home!
Moving day will be stressful! It’s very rare
to hear from someone who doesn’t encounter at
least some hassle during the process but,
with careful planning, stress levels can
be kept to a minimum.
Here’s a few tips to help make your big day go as smooth as possible…
- Make sure you use a good, dependable removals firm!
- If possible, try to stagger moving days so
you don’t have to do everything all in one day
- This can also give you time to do any essential
work to the new property such as carpet cleaning
or any decorating that needs to be done before all
your belongings arrive
- Try to avoid arranging your moving day
on Mondays and Fridays which are the busiest
days on the road
- Save time and cost by doing some of the
- Check out the best value utility contracts
for your new property well in advance and
read your meters in both properties on moving day
- Redirect post well beforehand - this is especially
essential to protect yourself from identity theft
- As with every step in the process, FBM
will be on hand to advise and help wherever possible