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Home Movers Guide
Moving home can be both exciting and complex. This guide provides you with the essential steps to make the process smoother. From listing your current property to purchasing your new home, follow this checklist to ensure everything is on track.
*This guide offers general advice. For tailored financial advice, please consult a mortgage adviser.
Steps to Get Started
- List Your Property: Prepare your home for sale and list it with a trusted estate agent.
- Search for Your New Home: Start viewing potential new homes and consider making offers.
- Organize Conveyancing: Appoint a solicitor to manage the legal aspects of your sale and purchase.
Home Movers Checklist - Part 1: Selling Your Home
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Prepare your home for sale and list it with a trusted estate agent.
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Research and select a reputable estate agent to market your property.
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Select a solicitor to handle the legal aspects of selling your home.
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Consider offers on your property and decide on the best one to accept.
Home Movers Checklist - Part 2: Purchasing Your New Home
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Determine your budget based on your financial situation and discussions with your adviser.
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Decide when you're ready to start viewing properties and making offers.
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Ensure your credit score is in good shape before applying for a mortgage or Decision in Principle (DIP).
Tip: Regularly checking your credit report helps identify any issues that might affect your mortgage application.
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Review various mortgage products to find one that best meets your needs. Consider factors such as interest rates, fees, and terms.
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Begin your search for the ideal property that fits your criteria and budget, and start making offers.
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Once your offer is accepted, submit a full mortgage application. The lender will conduct a valuation of the property, and you may also consider booking a private survey for a more detailed assessment. We can arrange this if required.
The timescale is typically 3-5 days from when documents are provided until submission. In some cases, this process may take longer depending on your situation and circumstances.
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After your application is approved, you will receive a formal mortgage offer. This document outlines the terms of your loan and confirms that the lender is willing to provide the mortgage.
Typically issued within 2 weeks, though timelines can vary depending on circumstances—some cases may take longer, while others may be faster. Lenders' service levels have an impact on this too!
Solicitor/Conveyancing Process: From Sale to Purchase Completion
This process can depend on several factors, including whether the sale is chain-free, vendor issues, or life events. Ideally, completion should happen within 2-4 months after an offer, but it can extend up to 6 months in some cases. Rarely, offers may need to be extended.
Contract Review for Sale and Purchase
Your solicitor reviews the contract provided by the seller's solicitor for your new home and handles the contract for the sale of your current property.
Property Searches and Enquiries
Essential property searches are carried out at both properties and enquiries raised on both sides
Answer & Raise Enquiries
Respond to any enquiries raised by your buyers regarding the sale of your current home. You will also be raising enquiries on the home you are purchasing.
Arrange Completion Dates
Work with all parties involved to agree on completion dates for both the sale and purchase.
Exchange Contracts
Contracts are exchanged for both your sale and purchase, making both transactions legally binding.
Completion
The remaining balance is paid for your new home, and you receive the keys. Simultaneously, the sale of your old home is finalized.
Post Completion Checklist
- 1. Call your energy suppliers and WiFi providers to arrange move-ins.
- 2. Pre-arrange a delivery van in advance for the move.
- 3. Keep an eye out for the first payment letter from your mortgage provider.
- 4. Stay in contact with your adviser at least 6 months before your mortgage fixed rate or product expires.
Need Help with Moving Home?
If you need assistance in navigating the moving process, from selling your current property to finding the right mortgage for your new home, our experts are here to help. We can guide you every step of the way.
This guide provides general information and should not be used as a sole basis for financial decisions. Please consult a mortgage adviser for personalized advice.