Our Top 12 Buyers FAQs
Frequently Asked Questions
How much money will I be able to borrow to buy a property?
We recommend consulting an independent mortgage broker who can assess your borrowing capacity and provide a ‘mortgage agreement in principle’. This document is essential if you intend to make an offer on a property.
How many times can I view a property?
As many as you like! Most buyers view once or twice before making an offer and then once or twice again after the sale has been agreed. Our virtual tour facility allows you to view as many times as you like, whenever you like, from wherever you are. It even has a measurement tool to check if your sofa or shelves will fit!
How do I make an offer on a property?
Call or email us and we’ll do the rest.
Does offering on a property commit me to buying it?
No, all sales/purchases are subject to contract so anyone can withdraw at any stage up until ‘exchange of contracts’ which is when the sale becomes legally binding.
What happens if my offer is accepted?
If your offer is accepted by the owner, you will need to provide us with
- Confirmation of your deposit and mortgage arrangements
- ID check to comply with Anti Money Laundering (AML)
- Details of your conveyancing solicitor
Don’t worry if you need any help or advice, we have years of experience and can put you in touch with all the right people.
Do I need to use a solicitor?
Yes. We have established good working relationships with several local solicitors and can arrange for them to contact you with a quote for conveyancing fees and other associated costs, such as land registry fees, stamp duty, and local authority searches.
What is a ‘chain’ and why does this make a difference?
A property chain is when a group of property buyers and sellers are linked together because their purchase or sale depends on the others. If you’re in a chain, this can mean that moving house could take longer or be more complicated. ‘First time buyers’ are ‘chain-free’ because their purchase does not depend on them selling a property to purchase another.
What costs do I need to be aware of?
There are several costs when buying a home that a buyer will need to be aware of:
- Mortgage costs – When applying for a mortgage, costs may include an application fee and possibly a valuation fee. Check with your proposed lender.
- Survey fees – If you get an independent survey on the property, this will be an additional cost and will vary depending upon the type of survey requested.
- Solicitor’s fees – These can vary quite widely so always ask for a quote before instructing one. An explanation of exactly what is included in the price should be provided. Your solicitor’s quote should include 3rd party costs including legal searches.
- Stamp Duty Land Tax (SDLT) – Stamp duty is a tax that’s charged when you buy a property in the UK, but you’ll only need to pay it if the price of that property reaches a certain threshold.
Will I need to get a survey?
The decision to get a survey is entirely your choice. If you are purchasing with a mortgage, your lender will carry out a valuation survey (either physical or desktop/virtual), but this does not comment on the condition of the property. An RICS level 2 (Home-buyer) or level 3 (Full Building) survey is required to assess the overall condition of the property.
What is exchange of contracts and what does it mean to me?
Exchange of contracts is when your purchase (or sale) becomes legally binding, deposits are paid by the buyer, and completion dates are confirmed. Your solicitor will be responsible for this part of the process and will advise accordingly.
When do I get the keys to my new home?
You will legally own your new property on completion of the sale – this is different to exchange of contracts. On completion, the funds are transferred to the previous owner and you will get the keys to the property.
How long will it take for the sales / buying process?
There is no set timescale for the sale / buying process as every transaction is different and depends on the motivation of all parties involved and the length of any chain (a sequence of linked house purchases, where each transaction depends on the one before it). A rough average is 12 weeks, but some will take 3-4 weeks, others may take up to 6-9 months!