There are so many steps to securing your new home that it can feel impossible to get to grips with everything. If it feels like too much, take a deep breath and zoom out. Here’s the whole process, step by step, with rough timings.
1. Save your deposit and think about your budget. Takes as long as you want!
2. Put your property on the market (if you have one), book your first mortgage broker appointment, and find a conveyancer. Takes 1-2 weeks
3. Choose your mortgage deal. Takes a few days
4. Gather your paperwork and send everything your conveyancer asks for. As soon as you can!
5. Get an Agreement in Principle. Takes around 24 hours
6. View properties, make an offer, and have one accepted. Takes 1-8 months +
7. Get surveys done on your new home.Takes 2-4 weeks
8. Apply for your mortgage and submit your paperwork, then wait for your lender’s surveys and final mortgage decision. Takes 18-40 days +
9. Exchange contracts, agree a completion date, send the funds to the seller via your conveyancer, and complete. Takes 2 weeks from exchange to completion
10. Move in!
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £549.