PURCHASERS INFORMATION

Financial Preparation

Before you begin your property search, getting your finances in order is essential if you want to be in the best position to secure your dream home.

Budget

What budget do you have in mind for your home? Why not use our Moving cost Calculator.

Deposit

Do you have enough money saved for your deposit? You are likely to need at least 5% of the purchase price of the house as a deposit. However, if you can save more for a deposit you can often get a cheaper mortgage.

Mortgage

How much could you borrow? You can calculate online how much your repayments would be based on different interest rates with our Mortgage Calculator

Credit Score

Do you know about your credit score? Your credit score could affect your mortgage borrowing ability. You can check your credit score on the internet websites, such as the Credit Expert from Experian, and you can improve it by doing such things as registering to vote.

Searching for your Property

Here are a few considerations to help you find the right home and understand what happens next. At M & P Estates Ltd we offer a NEGOTIATION SERVICE to help you achieve the best possible outcome on your new home.

Property Type

Do you know what type of property you want? Think about whether you want a new build property or “second-hand.” Are you happy to be attached to another or keen to be detached? How many bedrooms do you want, do you need a garden?

Tenure

Do you know the difference between freehold and leasehold properties? Freehold – Outright ownership of the property and land on which it stands. Leasehold – means that you own the property, but the land upon which the property is built is owned by the freeholder.

Location

Do you want to live near work, good transport links, your friends and family? Think about the future, will you have a family and need to think about schools?