Buying Your Home
We know that purchasing a home can feel like a minefield, so we've pulled together an overview of the steps and processes you'll need to follow when securing a mortgage and buying your home. And of course, we'll be here to guide you at every step of the way!
What is my budget?
Before you start viewing properties, it's important to understand how much you can realistically borrow. A mortgage adviser will look at your income, outgoings and deposit to give you a clear picture of your budget — so you can search with confidence and avoid falling in love with a home that's out of reach.
Time to find your dream home
With your budget in place, the fun part begins. Register with local estate agents, set up property alerts, and start viewing. When you find the right property, your adviser can confirm your borrowing position so you're ready to make a competitive offer.
Offer accepted — what next?
Once your offer is accepted, you'll need to instruct a solicitor to handle the legal side of the purchase. At the same time, your mortgage adviser will submit your full mortgage application. Most lenders will arrange a valuation of the property at this stage to confirm it's suitable security for the loan.
Checks, searches and surveys — mortgage offer received
Your solicitor will carry out local authority searches and raise any enquiries about the property. If everything checks out, the lender will issue a formal mortgage offer — a major milestone. Your solicitor will review the offer and the contract, and keep you updated throughout.
Exchange and completion
Exchange of contracts makes the sale legally binding — at this point you'll pay your deposit and agree a completion date. On completion day, the remaining funds are transferred, you get the keys, and the home is yours. Your adviser will be on hand right the way through to make sure everything goes smoothly.
We're ready when you are
Whether you're purchasing your first home, eyeing up your forever home or looking for the most suitable rate for your re-mortgage, Bluegate Mortgages provide you with expert support and advice to help you complete the process.