1. Before looking at properties, contact Complete Mortgages Ltd for guidance on borrowing capacity and costs. We can arrange to get a mortgage agreed in principle, which will add value to any offers that you make when visiting estate agents.
2. Once you have had an offer accepted we will submit your formal mortgage application, together with items such as proof of your income (if this is required). The lender will commission a valuation report through an approved surveyor as part of the process. If the property is older we suggest that you request a homebuyers report or full structural survey. Please see our Valuation & Survey Options guide for details of the options available.
3. Instruct a solicitor to work for you, and provide them with full details of the estate agent, vendor and your lender. We recommend Parklands Property Lawyers for their quality of service, competitive fee structure and can instruct them on your behalf.
4. The valuation report arrives at the lender.
a. Lender agrees the mortgage subject to conditions - such as work needed on the property.
b. If any work is needed, get at least three quotes for every job. Get the seller to pay for the work, or negotiate a reduction in the asking price.
5. Assuming all is in order the lender issues the formal mortgage offer letter. Copies will be posted to you, your solicitor and Complete Mortgages Ltd.
6. Your solicitor will carry out the searches, which you pay for up front. They also investigate the title and other issues. If all is in order, they will draw up and send you the legal paperwork with a bill for costs to date.
7. You sign and return the contract and give the solicitor the deposit (normally 5% or 10%), then they arrange a completion date. If you are buying a freehold property, you must get adequate building insurance cover in place immediately and life cover is also recommended. Complete Mortgages Ltd can arrange cover through a range of competitive providers. For leasehold properties buildings insurance will usually be arranged by the management company or freeholder.
8. Once contracts have been exchanged you are legally committed to the purchase. You will move in on the completion date so start planning your move by setting up direct debits for your new home and notifying people of your new address. Some utility companies can transfer bills directly across to your new property.
9. On the completion day, call the sellers' estate agents to pick up the keys. You will have buildings insurance in place already, and contents insurance is now recommended.
10. Pick up your keys and move in!
Solicitors are not regulated by the Financial Services Authority.
Download the Home Buyers' Guide as an Adobe .pdf
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
IMPORTANT - Please download and print our Initial Disclosure Document (IDD)
Complete Mortgages is a trading name of Complete Mortgages Limited. Registered in England & Wales 05537384. Registered Office Wey Court West, Union Road, Farnham, Surrey GU9 7PT.
Complete Mortgages Limited is an Appointed Representative of Network Data Ltd, which is authorised and regulated by the Financial Services Authority. Network Data Ltd is entered on the FSA Register (http://www.fsa.gov.uk) under FSA reference 300391.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
