When buying a property, the first step is to determine your budget and to find out how much money you can borrow. We can help you with this by arranging a FREE consultation with one of our fully qualified independent Financial Advisors, who will be able to confirm to you the amount which you can afford to spend on a property and what the monthly mortgage payments will be. Our advisors will also provide you with an AIP i.e. ‘Agreement in Principle’ certificate. You will need this as proof that you can obtain a Mortgage to show other estate agents before they will accept an offer from you.
Once you know how much you can borrow and you’ve acquired your AIP i.e. mortgage agreement in principle, you can then start to view properties. You can benefit by registering your requirements criteria with us i.e. your maximum budget, which areas you would like to live in, how many bedrooms you need and which type of property you want etc. Once you register with us, our ingenious system and friendly property consultants will keep you updated via email and phone, with our latest properties that may interest you.
You can ask us to arrange viewings for you on as many properties as you need to see until you feel happy enough to make an offer.
Need to sell a property first?
If your purchase of a property depends upon the sale of your currently owned property, then now is the time to put your property on the market. If you would like to get an idea of the current value of your property, you can benefit by using our Instant Online Valuation tool which allows you to instantly see how much your current property might be worth today.
If you are already on the market and need to change your estate agent for a fresh approach or if you are considering selling your property in the near future and would like to discuss the service we can offer you, we would be delighted to hear from you. Please contact us now to arrange a free no obligation property valuation.
Once you have found a suitable property, you will then need to make an offer. You will have to put your offer forward to the selling agent who will liaise with you and the sellers to agree a sale (subject to contract).
Agree a Sale
Once the sellers have accepted your offer, we will confirm this in writing to you, take the property off the market and mark it as Sold (subject to contract). We will typically at this stage stop arranging any further viewings on the property.
Choose a Solicitor
Once a sale has been agreed, you will then need a solicitor who will take care of the related legal matters and sales progression. We can help you find good local and national solicitors who we usually work with on regular basis. You can rest assured that you’ll be in safe hands with a competitively priced and efficient service as we only recommend like-minded and forward thinking solicitors.
Apply For Mortgage
Once you have agreed a sale on your dream property and chosen a solicitor, it is vital that we apply for your mortgage as quickly as we can to avoid any needless delays. Our in-house independent advisors will search the Whole of Market to help you find the right mortgage product for you. The mortgage application process only takes around an hour and you will require to bring the following proofs with you to enable our financial advisor to submit the application on your behalf;
- A valid photographic ID & proof of address
- Last three months’ pay slips (if employed) or last two years accounts (if self-employed)
- Proof of deposit (e.g. bank statements)
Wait for Mortgage Valuation Survey
Once the initial mortgage application has been submitted by our financial advisors and also accepted by the mortgage company, the lenders will then instruct a Mortgage Valuation Survey to be carried out at the property in order to ensure that the agreed sale price is the correct value of the property and that the building is in a good condition. Your lenders’ instructed Survey Company will contact us to arrange the access to the property, and if all is satisfactory, you can expect your ‘Mortgage Offer’ to follow in a few days.
We Will Keep You Updated
At AP Morgan we have our own in-house AfterSales Team, who will keep you updated with every step of the way. They will liaise with all the relevant parties involved in the transaction and work towards an anticipated target ‘Completion Date’ which is agreed mutually by the sellers and buyers and facilitated by the solicitors.
Once your chosen lender is happy with the outcome of the Valuation Survey, the official mortgage offer will then be sent out to you and to your solicitor.
Sign the Contracts
Once the solicitors have prepared and received all the necessary paperwork and other relevant information, they will then send out the contract to both sellers and purchasers who will need to sign the contract in readiness for the exchange of contracts.
Once all the parties involved in the ‘chain’ have signed the contracts and all solicitors have received/prepared everything they require, they will then arrange a formal exchange of contracts. Everyone involved will then agree on an actual ‘Completion Date’ and the solicitors will then be in a position to exchange contracts, which in simple terms means that the deal becomes legally binding and there are massive financial penalties if any party is then unable to complete the transaction.
Collect Keys on Completion
You can expect to get to this stage typically 8-12 weeks after you had agreed the sale. This is the big day when all parties involved in the chain actually move into their new homes. On this day your solicitors will transfer your funds into the bank account of the seller’s solicitor. Once the funds have been cleared into the sellers account (usually around lunch time), the seller’s solicitor will then call us to confirm to release the property keys to you. You will usually need to collect the keys from your local AP Morgan branch office and sign for them. That’s it, all done and dusted. Your dream home is now actually yours…