Buying Process

Finding the right mortgage to suit your own circumstances can be daunting, with so many lenders, schemes and rates available. We have our own in-house financial advisor to guide you. It will certainly help us to help you if you get a mortgage agreement in principle to enable you to move quickly if need be.  Far too often we witness the heartbreak of not being able to continue with a property because of the financials not being in place first, so let us help you.

It’s important to register your requirements and budget with us so that we can call and email you with details of properties you may like.  You can also keep an eye on the local market by browsing property portals like Rightmove, however quite frequently we will sell a property before it has even published online or photographed!! We are very pro-active in calling our buyers as soon as we receive an instruction we feel would match their requirements, so do not rely solely on browsing online, please get in touch to avoid missing out!

Make yourself comfortable with a glass of your favourite tipple. Think about your ideal property and write a list of the ‘Must Haves’, the ‘Nice to Haves’ and most importantly the ‘Definitely Don’t Wants’.  This can help you in deciding on which properties to view and more importantly will give you a good list of deal-breakers so nobody’s time is wasted viewing unsuitable properties. As we accompany most viewings, it also helps us to witness first hand your “likes” and “don’t likes”. This valuable insight give us a more accurate understanding on properties we should be offering you. The personal touch always wins!

Once we have matched you with your ideal property, you would make an offer to us which we will submit to our vendor on your behalf.  You must carefully consider how much you can realistically afford. Add up the mortgage offer plus any equity you have in the property you may be selling. Do not forget to allow for Stamp Duty and Solicitors fees. Our in-house mortgage advisor will substantiate your offer to make sure you are good to go and likely to be accepted. Once the vendor has accepted your offer you should instruct a solicitor to start the buying process. Our dedicated sales progressors will then step in at this point to guide you through the whole process from having your offer accepted, to picking up the keys on moving-in day! If you don’t already have a conveyancer or solicitor in mind, we can recommend one to you.

Once you receive an offer acceptance, the wheels are put into motion by our sales progression team to lead up to the final exchange of contracts.  This is called Conveyancing. We will liaise between your solicitor and the vendor’s solicitor, working up and down any chain, to ensure that your purchase goes through as smoothly as possible. We pride ourselves on keeping stress to a minimum for our buyers and sellers alike. Many estate agents can take their eye off the ball once an offer is agreed, however at Meacock and Jones, we feel that this is the most delicate and tricky part of a transaction, and it requires careful handling by our highly skilled sales progressors.

This is the legal term for the process that enables the transfer of ownership of a property from one party to another. Your solicitor will liaise with the vendor’s solicitor while carrying out Land Registry and Local Authority searches to establish the boundaries of the property, any restrictive covenants or potential developments in the area that may affect your enjoyment of your new home.

Unless you are a cash buyer this is the time to formally apply for a mortgage on the property with your financial advisor or lender, if not organised through us.  
Your lender will require a survey for mortgage purposes, but this is largely to establish a valuation. You may also choose to undertake a home buyers report or a full structural survey, the latter is usually advisable on a period property or a property of non-standard construction. Any issues highlighted may either affect the lenders ability to offer a mortgage in its entirety or impose special conditions on the mortgage offer.  The survey may also highlight potential areas of concern to you before you purchase the property.

Up until this point, either party can withdraw from the sale without significant financial loss.  When your solicitor has received satisfactory replies to all of their enquiries, a copy of a mortgage offer, a signed contract, and the deposit has been paid (usually around 10%), they can then proceed to exchange of contracts.  From this point the seller and buyer are legally committed to the deal.  At that point the date is then set for completion.  This can vary depending on your requirements.

Completion is when the legal ownership of the property is transferred from vendor to purchaser.  Once the monies have been received you can collect the keys and you are the legal owner of your new home.

Congratulations! You are now the proud owners of a beautiful new home. We love making that phone call to tell you that your new set of keys, and a complimentary bouquet of flowers await collection from our office!

Remember to get your mail re-directed and don’t forget to tell your bank, your employer, HMRC, DVLA, insurance, council tax, doctor, dentist and any schools that you have changed your address.
Take meter readings, transfer the phone lines and other utilities. Tell your friends and organise the housewarming party. And please…… don’t forget the cat!

The next time we speak to you would usually be when the time has come that you are ready to move on, and would like us to to find a buyer for YOU this time! Over the past 40yrs we have sold and re-sold the same houses on many occasions!