The Nock Deighton Buying Process

The process of buying a property is often a long one and can take some time. With lots of people from different parties involved and many factors outside any one person’s control, it can be confusing to understand the process. Below, we’ve outlined the key stages of the buying process with Nock Deighton. For more information, please contact a member of the Nock Deighton Sales team, who will be happy to help!

Obtain a Mortgage in Principle

Before you enter the house buying process, you should already have a valid mortgage in principle in place. It’s important you take the time to speak to a Mortgage Advisor and get an agreement in principle to document the amount of money you’re able to borrow. A Mortgage Advisor can also help you with government schemes such as Help to Buy.

Reserve your plot

Once you have found your desired plot, you can reserve it by paying a reservation fee to the sales team at Nock Deighton. Their specialists will talk you through the reservation process and answer any questions you may have.

Hire a solicitor

Once you have found your ideal home and have paid your reservation fee, you will need to hire a Solicitor to act on your behalf legally. A solicitor will manage all the legal aspects of buying or selling a property for you. To prevent any delays in the process, we recommend that you look for a solicitor who is local, reputable, and trusted.

Secure your mortgage

It’s time to secure your financing. If you have never owned a home before, you may consider the Help to Buy equity loan which helps first-time buyers purchase a new-build property. This scheme can help those who can’t save a big enough deposit to get onto the property ladder. A 5% deposit is required, but the government will lend you between 15% and 40% of the purchase price, depending on the location of the house you are intending to purchase.

Exchange contracts

Exchanging contracts refers to the process of two legal firms, one representing the buyer and the other the seller, swap signed contracts and the buyer pays a deposit. Upon a successful exchange, we will also confirm a completion date for you.