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RE Mortgages Midlands
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    • Home
    • Contact Us
      • Contact Us
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    • First Time Buyers
      • First time buyers
      • FAQs
      • Homebuyers Checklist
    • Self Employed
    • Remortgage
    • Buy to Let
    • Privacy Notice
    • Blogs

  • Home
  • Contact Us
    • Contact Us
  • Google Reviews
  • First Time Buyers
    • First time buyers
    • FAQs
    • Homebuyers Checklist
  • Self Employed
  • Remortgage
  • Buy to Let
  • Privacy Notice
  • Blogs

Homebuyer's checklist

 Homebuyers Checklist: Your Guide to Buying a Home in the UK


1. Initial Preparation

          

      Assess Your Finances

  • Check your credit report and score.
  • Calculate your budget considering your income, savings, and existing debts.
  • Determine how much you can afford for a deposit (usually 5-20% of the property price).


     Save for Your Deposit and Additional Costs

  • Start saving for your deposit and consider additional costs such as legal fees, survey costs, and moving expenses.


     Understand Mortgage Options

  • Research different types of mortgages: fixed-rate, variable-rate, interest-only, etc.
  • Use online mortgage calculators to estimate your monthly repayments.


2. Getting Mortgage Ready


     Consult a Mortgage Broker

  • Schedule a meeting with a mortgage broker to discuss your options and get pre-approved for a mortgage.


     Gather Necessary Documents

  • Proof of identity (passport or driving licence).
  • Proof of address (utility bills, bank statements).
  • Proof of income (payslips, tax returns).


     Obtain a Mortgage Agreement in Principle (AIP)

  • Get an AIP from your broker to show sellers you are a serious buyer with financial backing.


3. House Hunting


     Define Your Requirements

  • List your priorities: location, number of bedrooms, type of property, etc.
  • Research areas and properties within your budget.

     

     Start Viewing Properties

  • Arrange viewings for properties that meet your criteria.
  • Take notes and photos during viewings for comparison.


     Make an Offer

  • Once you find a property you like, make a formal offer through the estate agent.
  • Be prepared to negotiate on price and terms.


4. The Purchase Process


     Hire a Solicitor or Conveyancer

  • Appoint a legal professional to handle the conveyancing process, including searches, contracts, and completion.

     Apply for Your Mortgage

  • Submit your full mortgage application to your lender with the required documents.

     

     Arrange a Property Survey

  • Book a survey to assess the condition of the property and identify any potential issues.


     Review and Exchange Contracts

  • Your solicitor will review the contract and once satisfied, exchange contracts with the seller. You’ll need to pay a deposit (usually 10% of the purchase price) at this stage.


     Arrange Home Insurance

  • Organise buildings insurance to start from the date of exchange.


5. Completion


     Finalise Mortgage

  • Your lender will release the mortgage funds to your solicitor.


     Complete the Sale

  • On the completion date, your solicitor will transfer the purchase funds to the seller, and you’ll receive the keys to your new home.


     Pay Stamp Duty

  • Ensure you pay the Stamp Duty Land Tax (SDLT) within 14 days of completion, if applicable.


6. Moving In


     Plan Your Move

  • Organise a removal company or enlist friends and family to help with moving.


     Settle In

  • Update your address with relevant institutions (banks, DVLA, etc.).
  • Register with local services (GP, dentist)


     Review Your Mortgage

  • Ensure you understand your mortgage terms and set up any necessary direct debits for repayments.

Copyright © 2025 RE Mortgages Midlands - All Rights Reserved.

 RE Mortgages Midlands LTD is an appointed representative of Quilter Financial Services Limited which is authorised and regulated by the Financial Conduct Authority 

 RE Mortgages Midlands Ltd is registered in England and Wales. Company Number 15701405. Registered Address Office F34, West Midlands House, Gipsy Lane, Willenhall WV13 2HA

 The guidance contained within this website is subject to UK regulatory regime and is therefore primarily targeted at consumers based in the UK 





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