From negotiating your offer right through to your move in date, and everything in between, our experienced team will work hard to make buying through Charles Faye as stress free as possible. Buying a property in the UK can be a drawn-out affair and can take on average 2 -3 months depending on your circumstances. We hope you find this brief overview useful in planning what in most cases, is the largest financial commitment you will ever undertake.
Buying a house is probably the biggest financial commitment you will take on in your lifetime. It is essential before commencing your search to establish how much you are able to borrow and to fully understand the costs involved when buying a property.
You need to know the maximum price of property you can afford. This depends on the amount you’ll be allowed to borrow (which is based on your income), and on the size of your deposit.
There are many online mortgage calculators you can use to gauge how much you may be able to borrow. Please note we would always advise you to seek professional advice before progressing with any commitment.
Mortgage Agreement in Principal
Before being able to make an offer on a property, you will need a “Mortgage agreement in Principal” which will confirm the amount available for your purchase and enable you to progress with a ‘proceedable offer’. This is an official estimate from a lender of how much you can afford to borrow on a mortgage.
Making an offer
Putting an offer forward to purchase a house is a big step and can be quite daunting, especially as it’s likely to be one of the most expensive transactions you’ll ever make.
Once you have decided on your proposed purchase, you will need to make a formal offer. This can be done via a member of our sales team either verbally (over the phone or in person), or in writing. We are unable to provide you details of any previous offers, or the price at which the vendor may accept.
By law, we must pass every offer to the seller and will provide a response as quickly as we can. Once your offer has been accepted, congratulations it’s time to celebrate. You’re one step closer to becoming a homeowner!
It is a legal requirement for us to do customer due diligence checks to prove that you are who you say you are. This will include taking some personal details from you and checking an ID like your passport or driving licence. So, make sure you’re prepared for this and don’t be surprised when we ask for your ID when you submit an offer.