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Agree a mortgage in principle; this will tell you the
price of the property you can afford to buy.
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Look at as many properties as you can to get a
good idea of what is out there and don’t forget to
explore local facilities. Will the area suit you?
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When you have found the property for you, you
can make an offer, keeping in mind the amount
you can borrow.
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application for your mortgage.
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The property will be valued, producing a basic
report. If you want to know more about the
property, you can organise for a home buyers or
full building survey to be undertaken.
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Now you will need to instruct a legal representative
to undertake the conveyancing process for you.
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information in your application, they will make you
a mortgage offer.
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You will need to pay the deposit to your solicitors,
who will arrange the purchase.
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The contracts will now be exchanged and a
completion date agreed.
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Your purchase is now complete and you can collect
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Remember, within your initial purchase, various fees
may be payable, including; stamp duty, solicitors fee,
valuation fees, application and booking fees.
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Purchasing a Shared Ownership property means part
buying, part renting your property. You’ll buy a share of
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association or landlord for the rest. You will only need
to pay a deposit on the part you are initially buying.
You will be paying your mortgage as well as rent to the
housing association or landlord. Buying this way could
mean a lower initial deposit with an option to buy more
shares further down the line.
For more information on buying a home, you can visit
our Newbury branch, call us on
01635 522588
or
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Prudential Regulation Authority (Financial Services Register number 206077).
NEWBURY
building society
10
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Jane Bosher
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