If you’re a first time or inexperienced property buyer, you can count on us to support and guide you every step of the way. You may find the following steps helpful when buying a home.
Step 1 – Contact Abacus so we can help put a Mortgage Agreement in Principle (AIP) in place. We can confirm to the vendor, (the vendor is the person who is selling the property), or estate agents that you are in a position to buy.
Step 2 – Find your ideal home. We suggest you visit at least twice before making an offer. Appointments should be made through the estate agent – or we can make arrangements for you
Step 3 – Offer been accepted? Call us right away to get your mortgage application moving, and we will find you a solicitor if you don’t already have one.
Step 4 – Your mortgage lender will instruct the property valuation or survey, to ensure the property is suitable for mortgage. Once the report has been received by the mortgage lender they will issue the formal mortgage offer.
Step 5 – This is where the solicitor takes over; all of the searches and other legal aspects are carried out.
Step 6 – Exchange of contracts. You are now committed to your purchase and should arrange your building insurance and life cover to be put on risk. Again, that is something that Abacus can do for you.
Step 7 – Completion. Congratulations, you now own your new home.