It’s a good idea to work out how much moving house would cost you (and what mortgage you can afford), before you start searching for properties. Once you’ve got a good idea of what your budget will stretch to, you’ll be able to target your search more effectively.

As a general rule, you should expect the required deposit to be between 5% and 10% of the property’s purchase price.

To make an offer, just give Regal Estates a call. We’ll pass your offer onto the seller, who will either accept it, reject it, or suggest a renegotiated price. It’s quite common to negotiate, and is very much part of the process.

Your mortgage lender will carry out a mortgage valuation of the property. This incurs a fee, and is a necessary part of the process (you won’t be approved for a mortgage without it).

However, this valuation only confirms that the property is worth the sum of the loan. As such, it’s recommended that you purchase an additional survey, to verify the condition of the property. There are three different options: a condition report, a homebuyer survey, or a building survey – the best option for you depends on what sort of property you’re purchasing.

When all parties are satisfied, with no queries or concerns to address, the contracts can be signed. At this point, you’ll need to pay the deposit, which your solicitor will look after until the sale is completed. It’s important to note that at this stage, the sale is legally binding.

The title deeds remain with your conveyancer for a while, before being forwarded to your lender, where they’ll be safely stored. They’ll hold onto the deeds until you’ve repaid the mortgage in full.