Mortgage IQ

First Time Buyers |Co-Ownership | 100% Mortgages | Guarantor | Right-to-Buy | Mortgage Options

 

First Time Buyers Cont'd...

Start looking!

Now you have a good idea of what you can afford, you can begin the hunt!
Think over these questions first.

  • How many bedrooms do you need?
  • Are car parking facilities or a garden important?
  • Are you bothered by traffic noise?
  • Do you need a school nearby?
  • Where would you want to live in relation to your workplace?
  • Would you prefer a brand new home or an older one?
  • Do you prefer the town or somewhere more rural?

Once you have a rough idea of your basic requirements, a quick call to the estate agents in your desired areas will give you a good idea of what type of property your budget will buy you. Contact as many estate agents as possible and get on their mailing lists. Most local newspapers will have a weekly property section. You will also find many properties listed on the Internet.

Make an Offer

Mortgage IQ offer a free bidding service. This means they can place bids on your behalf with the estate agent. Mortgage IQ unlike the estate agent who are acting for the vendor are impartial in the transaction, and can help advise you in the offer process. The next key stage is to get your offer accepted. Once you've found the perfect place, and your offer is accepted, Mortgage IQ will double check the best deals which may have changed since you initial looked, agree the best options, submit paperwork and start the mortgage application process. If you are purchasing with Coownership we will complete this paperwork on your behalf also so you don’t need to worry about a thing!
Once your offer is accepted, it will be confirmed in writing. But do remember, the property is not officially yours until legally binding contracts are exchanged and the monies have been paid over.

You may have heard of 'gazumping'. This is where a seller has agreed to sell their property to you but later accepts another offer and rejects yours. This can be frustrating and costly, but is not illegal. The best thing to do is to move on, literally! Many people often find a better property waiting for them around the corner...

 

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