Home Buyer FAQs

Starting your property search can be daunting. We suggest beginning with a clear understanding of your budget. Once you have a budget in mind, you can explore online listings, attend viewings, and liaise with estate agents, like us, to gain insights into properties that align with your requirements.

There are several additional costs to consider:

• Stamp Duty Land Tax (SDLT): This tax is based on the purchase price of the property.
• Surveyor Fees: Ensures that the property doesn’t have any underlying issues.
• Conveyancing Fees: For the legal process involved in buying a home.
• Mortgage Arrangement Fees: If you’re borrowing money to buy the property.
• Removal Costs: If you’re moving from another residence.

• Freehold: Means you own the property and the land it stands on. This is often the preferred option.
• Leasehold: Implies you lease the property for a number of years, decades, or even centuries. The land belongs to someone else.

Begin by researching various lenders and understanding their rates. It’s beneficial to seek advice from a mortgage broker, who can help you navigate the options and find the best deal based on your circumstances.

Typically, the deposit is paid upon exchange of contracts. It’s usually 10% of the property’s price, though this can vary. Ensure you have the funds available by this critical stage of the buying process.

On average, it takes around 12 weeks from the offer being accepted to completion. However, every transaction is unique and may vary depending on various factors like chain situations, mortgage approvals, and conveyancing delays.

A chain forms when multiple property sales and purchases are interdependent on each other. For instance, if you’re selling a home to buy another and the buyer of your home is also selling theirs, it creates a chain. Breaks in the chain can cause delays.

Be thorough. Check the condition of windows, roofs, and walls, both externally and internally. Pay attention to the age and functionality of the boiler, storage spaces, damp patches, and the overall feel of the neighbourhood. Don’t be afraid to ask questions.

Absolutely. It’s standard practice to negotiate. Begin by researching the local market, understanding the value of similar properties, and gauging how long the property has been on the market. However, always remain respectful with your offers.

If the survey uncovers problems, you have several options. You can request the seller to fix the issues, renegotiate the price, or in extreme cases, reconsider the purchase.