Advice to Home Buyers

Buying a house can be an overwhelming process, Follow some of our simple tips in order to decrease your stress levels….and blood pressure.

Before Viewing

Mortgages

There are many buyers out there who view property before ever speaking to a mortgage advisor, don’t be one of them. You need to establish and have clear knowledge of how much money you can borrow as well as the deposit required, shop around for the best deals as lending rates can vary between different lenders. Make a simple list of your income and current expenditure each month and be comfortable in your own mind how much you can afford on a mortgage repayment. Don’t forget to check if Stamp Duty has to be paid on the property you are buying, currently stamp duty levels are as follows:

Stamp Duty Rates

  • Up to £125,000: 0%
  • £125,000 - £250,000: 1%
  • £250,001-£500,000: 3%
  • £500,001 and above 4% As of 25 March 2010, exceptions apply: Up to £250,000 (FTB only) 0%
  • £1,000,000+ 5%

Research The Areas

Many buyers already know where they want to move to, but it is also important to research before, the general locality in terms of convenience to transport links, schools etc. Drive around the area at evenings and weekends in order to establish various things such as road noise, traffic levels and signs of anti social behaviour.

Viewings

Don’t be afraid to view a property you like as many times as you feel is necessary. Remember this is likely to be one of the single biggest investments you will make.

Solicitors

Once you have sale agreed on a property you will need to appoint a solicitor to handle all the paper work. They will liaise directly with the sellers solicitor on your behalf. Again price around as prices vary enormously. Contact us for our recommended conveyancing solicitor.

NI Property Group Always on Hand

If at any time you are unsure or need a little advice on any property related matter, pick up the phone or email us, we will be only too happy to pass our knowledge on to you completely free of charge.