The first steps

Buying your home will probably involve the biggest investment you make in your life. Most people buying a home take on a major financial commitment via a mortgage and this means making a choice from what is often a bewildering range of options. Positive action starts with being well informed. If you know what to expect you will be able to handle any problems that arise – and that goes for the future as well.

1. Search for Properties

You can search for properties on our web site using our search facility, or you can call into our offices in Chapel Allerton and take advantage of our touch screens to find a property that meets your needs. Our team are always on hand to help you and keep you informed of the latest properties available for sale, or can help you find the type of properties you are interested in.

2. Viewings

We understand that it's important to organise viewings at times that suit you. Therefore we offer viewings 7 days a week including evenings to ensure that you can view the property in your own time. Second viewings are never a problem and we can work with you to ensure that any questions you may have about the property are answered as quickly as possible.

3. Selecting a mortgage

Finding your way through the maze of mortgages that are available can be a time consuming task. It's important that you select one that suits your particular needs. At Parklane although we don't have mortgage advisors, our team keeps up-to-date with the latest types of mortgages and can put you in touch with local financial advisors if required

4. The Offer

Once you have found a suitable property you need to make an offer on how much you are wiling to pay for the property. It's important not to be over enthusiastic and you must consider how much you can really afford based on mortgage calculations and any equity you have in an existing property. You must also consider all the other costs that will be involved in buying your home such as solicitor's fees, insurance and moving costs. Make an offer that you believe is fair and you can afford to avoid any time wasting at a later date due to a mortgage being turned down etc. Once the vendor has accepted the offer you should instruct you solicitor to start the buying process. Remember at this stage there is still no legal obligation for you to buy the house or for the vendor to sell it to you until both parties sign the contract.

5. Valuation/Survey

Depending on the type of house you are buying your mortgage lender may require more than just a valuation and homebuyers survey. It's important to note that a full structural survey may cost a little more but on older houses it can expose potential problems that you or your mortgage lender were not aware of. Any issues may affect the lenders ability to issue a mortgage and also highlight expensive problems to you before you purchase the house.

6. Conveyancing

You will need to find a solicitor or licensed conveyancer to provide all the legal services required to buy your house.
This is also the time to instruct your mortgage broker to proceed with your mortgage application and make arrangements for a survey and or valuation. Your solicitor should carry out the following

• Prepare Draft Contracts

  - This is drawn up by the vendor's solicitor and sent to your solicitor. It will answer some initial questions regarding the property i.e. what is remaining in the property, where the boundaries are and what is included as part of the sale. Once results of the Land Registry Search and Local Authority Search have come back and any queries regarding the property have been answered, the draft contract is approved by your solicitor.
  

• Formal Mortgage Offer

  - This is important, without a formal mortgage offer you cannot proceed unless you are buying the property as a cash buyer. The offer will be sent to your solicitor for your signature and approval. Once signed you can move forward to exchanging contracts.
  

• Local Authority Search

  - Your solicitor will submit a Local Authority Search to the local council that you will pay a fee for. This is important as it will highlight any potential issues regarding the property such as planning permission and any other local issues such as potential developments in the area.
  

• Registry Search

  - This gives you information on the following aspects of the property you are about to buy including
  
• A description of the property
• Who owns it
• Mortgage Lender (if any)
• Price stated (if registered since 1st April 2000)
• Rights of way (not public rights of way)
• Any other conditions or restrictions such as restrictive covenants etc.
  

• Exchange

  -The sales contract is signed by both you and the vendor and the deposit is transferred or paid by your solicitor to the vendor's solicitor. The date is then set for completion.
  

• Completion

  - Once the exchange has taken place then completion generally happens a few days or a couple of weeks later. This is dependent on your circumstances and any other parties involved in the house buying chain. On the date set any monies owed are transferred from your solicitor's account to the vendor's account. Once the monies have been received you can collect the keys and you are the legal owner of your new house.

7. Removals

Make sure that once you know your completion date you book your removal service as soon as possible. At busy periods removal services can be booked up and it's important that you ensure that you can rely on a reputable firm to help you move house.

8. Insurance

Make sure that you have all the necessary insurance policies in place for the day that you are moving into your new house. Contents are particularly important and you may want to consider insuring your contents with the removal firms so that any breakages during the move are covered.