Avoid money melodramas

There’s always a time crunch when you find a good property, as it’s unlikely you’ll be the only one interested in it. To outrun other potential buyers, you need to get your finances sorted. Check out the following pointers to get a head start:

·      Check your credit score. If it’s low, you may struggle to get a mortgage.

·      If you know how much you can afford, make sure you’ve got a large enough deposit saved. There are plenty of online tools to help you work out how much you’ll need.

·      Get a mortgage in principle so you know how much you can borrow. This is valid for three to five months and shows that you can move quickly and mean business.

Trust the professionals 

From estate agents to builders, conveyancers to mortgage brokers – the people around you matter. Many buyers don’t take advice or ignore what they’re told, which can lead to countless problems.

Use a trusted local estate agent (like us!) and ask questions about the property and area you’re interested in. Liaise with a mortgage broker to find the best deal and appoint a conveyancer as soon as possible so that the legal aspects of the purchase can get off to a strong start. Without using professionals, buyers can quickly get swamped in legalities and financial complexities.

Don’t underestimate costs 

When buying an older property, get a surveyor round or view the property with a builder before making an offer. Many buyers underestimate the costs of renovations or repairs, so their dream home can quickly feel like a burden rather than the start of a new chapter.

Legal fees, commission payments and other associated costs can build up, so it’s essential to ensure enough money is left in the pot to carry out any work.

If you’re looking for a new property, Cooke & Co can help, get in touch with us on 01843 231833

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