Politics and Legal


If you are buying a property for the first time and are still thinking if you need to buy an independent house or an apartment, this post will offer you some deep insights and explain to you the process step-by-step. Due to the COVID-19 pandemic, the housing market has been impacted significantly and it is far from normal.You will have to brace yourself for delays and that is where property conveyancing solicitors can make your job easy.Property conveyancing solicitors can explain to you all the nitty-gritty of buying or selling, if you are doing it for the first time or tenth time. They will tell you exactly what kind of mortgage you must choose. 

Before starting the property search, you will need to organise your deposit. Every solicitor you work with will also suggest you the same thing. They will always advice you to organise a deposit first in order to book the deal. You can also consult them about any other little details or hidden costs involved with buying a certain property. As a rule of thumb, the deposit can start from 5 percent to 20 percent of the total cost. It is best to take some financial advice from property solicitors London regarding the mortgage and how much you can afford to borrow. Let’s take a step-by-step look at our property buying guide for first time buyers. 


Save For a Deposit

You need to determine how much you can afford to arrange as a deposit for a new home. Typically, if you have a bigger deposit, you will get much better mortgage rates with lower monthly payments for a significantly lower time duration. For that, you need to try and save at least 5 to 10% of the total cost of the property to be eligible for a mortgage. However, if you manage to save in access of 20% then you will definitely get much better mortgage deals. So, start saving now and secure a better future for yourself and your family. 


How much can you borrow?

The percentage or total amount of mortgage that you can borrow depends on a number of factors like your current income, deposit and your credit score to begin with. If it is a joint property, then the mortgage company will also look at the financials of the people involved. The financials are important as that can determine the amount you should be paying for buying a property. Always listen to your solicitor when they give you advice on the limit of borrowing no matter where you borrow it from.

Apart from that you will need to include other elements like the cost of surveys, conveyancing, stamp duty etc. There are many hidden costs involved at the time of buying a property. Make sure you get all that information from your solicitor so you are clear about every little hidden cost you are supposed topay for. A conveyancing lawyer can help you find out how much you can safely afford to borrow without affecting your current lifestyle and future plans.


Research and View Properties

Once you have got the deposit ready and have done some research for your favorite properties, now it is the time to actually view the properties in person. Viewing a property in real life is quite different than watching pictures or videos of the house or apartment online. After all, you and your family are going to live in the house so you need to make sure you get a good feeling.

Additionally, you need to ensure that there is a school, shopping centre, public transport and kids playing area near the property along with friendly neighbours. Once you find a match, try to visit the property at different times of the day to see the noise around the property and the neighborhood in general. You also need to make sure that there is no current dispute on the property, so take help from property dispute solicitors in the area. 


Make an Offer and Apply For Mortgage

It is customary to offer a lower number than the current asking price. But, if there are other people interested in the property then you may need to rethink your offer. You can also view similar properties in the neighbourhood to find out the prices and try to match that price.

Once that is done, you will need to figure out the type of mortgage you want to go for. For instance, do you want to take a fixed rate mortgage or tracker mortgage along with how long you want to pay the mortgage. The interest rates would be different for each type, so you choose the one which is aligned with your financial standing. A careful analysis of your financial situation and the market will help you get best mortgage rates. Between making an offer and living in your rented house, you may need to take help from lease extension solicitors to extend your lease in case of delays.


Find a Conveyancing Lawyer

Conveyancing is the process that begins after your offer is accepted by the other party. This step includes a lot of legal processes like drawing up contracts, dealing with the Land Registry and paying the stamp duty. Here you can take help from a conveyancer or a property lawyer London who specializes in property buying and selling. Finding a good property might be a difficult thing. But finding a good solicitor is a difficult thing. But you don’t have to look too far for it while we are here to help you out. 



Once you complete the above steps, you will need to agree to the terms and conditions of the sale like the total price of the property, who you are and when you can finally take possession of your new home. Your mortgage will get approved and the lender will need you to insure the property during the approval stage. After that, contracts will be exchanged and are legally bound to buy the property by putting in your deposit. Buying a house of your dreams is an overwhelming decision and hence it is best to consult one of the best conveyancing lawyer for a seamless process.

Bharat Pindoria

At Pindoria Solicitors in the UK, Bharat Pindoria is the department head with a far-sighted vision and an open-minded approach. His unwavering efforts and high expertise and experience in law have lead him to the steadfast progress of the law firm. Apart from this, he has a keen interest in contributing his knowledge with writing blogs related to the industry.

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