Thinking of Buying, not sure where to start?

Buying a home can be a long and daunting process, we have developed the below guide to give first time buyers some information on what to expect when purchasing their first Viewpoint home. We tend to find that no two moves are the same, when buying a new home from Viewpoint your purchase will be managed by our dedicated Sales Manager & Experienced Selling Agents who will help steer your through every aspect of the purchase.

Step 1 - Get your finances in place
Speak with a local mortgage adviser who will be able to investigate your specific circumstances and let you know your options. Your financial adviser will likely obtain an ‘Agreement in Principal’ from your preferred lender. A deposit is not always necessary if you are a first time buyer buying though co-ownership!

Step 2 – Decide what you can afford and where you want to live!
Once you've got an idea from your mortgage adviser of how much you can borrow, you can start thinking about the area you would like to live in and the kind of property you can afford. When deciding where to live, think about things such as transport links and how close you are to shops, restaurants, pubs, schools and other local amenities.

Step 3 – Find your dream Viewpoint home!
This is the fun bit. Having got to this stage in proceedings, now is the time to start viewing properties. While some buyers fall in love with the first place they see, most have to view numerous properties to decide on their dream home.

Step 4 – Reserve your new home
Complete your reservation agreement and pay your booking deposit (£500 or £1000). Completing this stage secures your site within the development and the site will now be marked as ‘Sale Agreed’. At this stage you will be issued with a completion date, this is the date when you will get your keys and move into your new home.

Step 5 – Appoint your Conveyancer & submit your full Mortgage Application
Once you’ve reserved your new home you need to complete your full mortgage application. You can do this through your financial adviser, be prepared for paperwork and for your bank statements to be gone through with a fine-tooth comb to check you can afford the loan you are applying to borrow.

You now need to appoint your conveyancer (usually a solicitor) to act for you and your lender in the purchase of your new home. We can help you with appointing a good local conveyancer. If you are shopping around, make sure you know exactly what is – and isn't – included, such as Land Registry fees, bank fees, postage and VAT.

It is the job of your conveyancer or solicitor to review all the legal documents and start the necessary searches, such as local authority, environmental and water and property. Note that good conveyancing is critical to helping keep your house purchase on track.

Step 6 – Exchange Contracts

Once all the searches are complete, the legal work is finalised, and the mortgage is in place, it's time to exchange. Exchange is the point at which both buyer and seller are legally bound to go ahead with the transaction on the terms agreed. It is also the point at which you pay the deposit to the solicitor (this is usually 10% of the purchase price).

Step 7 – Completion Day!
On completion day, your money is transferred to pay for your new home.

In addition, you need to pay any outstanding fees, such as stamp duty (If applicable), and the cost of legal work.


Get In Touch…
If you are considering purchasing your first home and would like some advice or recommendations as to how you can start the process, get in touch with our dedicated Sales Manager, Gary Hunter – 07976 467368 / ghunter@viewpoint.uk.com