If you are searching for a house to buy, UK residents often have it tough as it can be quite the long and complex process. We will give you an overview here, providing you with the necessary steps you must take to make this significant investment. (Fortunately, selling your home in the UK can be much more easy and streamlined! More on that in a moment).

Looking for a House to Buy UK

Before you can hit the listings and indulge your imagination at viewings – and well before you sign on the dotted line and take possession of the keys – it is important to put some fundamental steps into action. These include:

• Determining your moving expenses. The last thing you want when buying a house is to be surprised by costs that you were not expecting. Be sure to account for lender fees, legal fees, broker/agent fees, mortgage fees, removals, etc., as you proceed.
• Learning how much you can borrow. Meet with a reputable mortgage advisor to determine how much you can feasibly borrow. You will then obtain a Decision In Principle (DIP); this is essentially a reassurance to sellers that you can qualify for a mortgage up to that amount.

From there, you will move on to:

• Searching for a house to buy. Most people go through an agent or broker, but you can use property portals to conduct your own search. Consider costs, of course, but also location, proximity to work and/or school, neighbourhoods, and other important factors.
• Arranging for a viewing. While there are cases when people purchase houses sight unseen, it is not recommended. It is crucial that you view the property and that any potential issues are disclosed.
• Engaging a solicitor. It is not legally required to have a solicitor when buying a house in the UK but it is highly recommended as they will handle the myriad legal requirements associated with the process.
• Making an offer. With your DIP in hand, you can make an offer if a property meets your needs and your budget. Be prepared for some back and forth when it comes to negotiation. A first offer may not be accepted; acknowledging this can alleviate much frustration. Decide beforehand if you will make another offer or continue your search.
• Agreeing to the sale. With input and advice from your solicitor, you can then move on to confirming that the sale has been agreed to, subject to contract. You will receive a Memorandum of Sale.
• Finalising your mortgage application. Meet with your mortgage advisor to finalise the terms of your mortgage. At this point, most lenders will require and arrange a valuation. They do this to confirm that the house is worth the amount that you are borrowing.

• Getting a house survey. It is imperative to take this step as it can uncover issues that could well weigh in your decision. For example, if there is significant structural damage or the home needs a new roof, you may rescind your offer or make a new, reduced one. This is why your accepted offer and agreement to purchase is contingent upon these results.
• This is where your solicitor will come in, dotting all the legal I’s and crossing all the T’s. They will handle contracts, title deed searches, information on boundaries, alterations to the property and disputes, and conduct searches with the Land Registry and Local Authority.
• Getting insurance. At this stage, ensure that you collect quotes for the house and contents. Insurance must be in effect on the day you exchange contracts.
• Signing the contract. Your solicitor will tell you when it is time.
• Arranging moving dates and exchanging contracts. You will set a date for the exchange of contracts and completion. On this day, your deposit will be sent to the seller’s solicitor with the contract.
• Following through to completion. Your solicitor is charged with paying the balance of the purchase price to the seller’s solicitor. Once this has been done, the keys will be released.

As you can see there is a great deal to consider and through which to manoeuver when it comes to a house to buy in the UK. Fortunately, however, selling a house is much easier. GoodMove specialises in quick cash sales, allowing you to access funds with which to purchase a new house on a significantly accelerated time frame. You do not have to wait months as your house sits on the market, as viewing after viewing occurs, after deals fall through… You simply sell and utilise those funds to fuel your new home purchase (or accomplish whatever other goals you have in mind).

Are you ready to sell your house – so you can make buying a new one that much easier? Contact GoodMove.