First-time home buyers’ guide

1. Register with an agent

Your estate agent will be your first port of call when beginning your property journey. They'll get to know you so that they can match you to the perfect property. They'll be on hand to guide you through the buying process, answer any questions that you may have and act as a liaison between you and the seller of the property that you're interested in.

When you register with Wards, we really take the time to get to know you. We want to know exactly what you want from your ideal property and we take all that information into account when matching you to one of our properties in your chosen area. With over 30 years in the industry, and agents local to your chosen area, we can guide you through everything that the area has to offer such as schools, transport and other amenities.

2. Search online

Whilst our doors are open should you prefer to come and visit us, our easy to use website means that you can begin searching for your next home from the comfort of your sofa. Our online property tool allows you to browse through property listings and shortlist properties that you’d like to view, prior to meeting us in-branch.

We list all of our properties on Rightmove, Zoopla, Primelocation and On The Market, meaning that these are a great place to start in your property search.

3. Obtain a mortgage Agreement in Principle

Obtaining a mortgage Agreement in Principle (AIP) ahead of viewing a property will help demonstrate your financial ability to purchase which may encourage sellers to take your interest more seriously. They are quick and simple to obtain and will be applicable to any properties that you view up to the agreed price stated. 

Why not visit one of our in-house Mortgage Advisors and discuss your situation? They can talk you through your options and find a mortgage to suit your needs. 

4. Book some viewings

When you’ve found a property or two that you’re interested in, contact us and we'd be happy to arrange some viewings. You never know, you might just be stepping foot into your dream home.

5. Make an offer

When you’ve found that ideal home, be sure to contact your agent regarding making an offer. You can decide on what you’d like to offer after a discussion with your primary agent, and they will get in touch with the seller for you.

6. Open a file with a conveyancer

Whilst the seller is discussing your offer, you can be proactive and instruct a solicitor or conveyancer. They will both handle the legal side of the sale, like property searches and title deeds to the exchange of contracts.

At Wards, we offer trusted and expert conveyancers who provide fixed fee services, with nothing due until after completion. So that if your sale were to fall through, you wouldn’t have to pay for their services.

Buying a house: A Timeline

Week 1-2: Drafting the Contracts

In the first week of completing your buy, the seller or vendor’s solicitor will draw up a draft contract to send to your solicitor. You solicitor will then raise preliminary enquiries and make a Land Registry search to prove title ownership of the property.

Week 2-5: Searches, Survey and valuation

Searches

From the second week of your buying timeline, your solicitor will carry out a search with the Local Authority. This will reveal any planning consents granted for the property and any other relevant local issues such as:

• Local Authority searches
• Drainage searches
• Environmental searches

Survey and Valuation

Your second week of your buying journey will also include surveys and valuations. Before agreeing to lend you money, your mortgage lender will require a valuation of the property. This is so that the mortgage lender can ensure the property is worth the amount you have offered to pay, and so that they can ensure that they will make a return on their payment.

A survey is completed by a chartered surveyor and is predominantly for your benefit, to assist you in making an informed decision about the property you’re planning to purchase.

There are three types of survey

Snagging survey – Priced up to £300. Usually used for new builds, this could identify problems for the developer to fix before you move in.

Homebuyer’s survey – Priced between £300-£500. Suitable for properties aged 50 years or under. Can be conducted at the same time as your valuation, to save money.

Full structural survey – Priced up to £1000. This is a far more detailed report, covering everything that you should know about your new home. An absolute must if the property is older or listed.

Week 5-6: Contracts approved & Formal mortgage offer

Contracts approved

Once your solicitor is satisfied with the results from the searches, survey and preliminary enquiries, then the contract can be approved.

Formal mortgage offer

Your final, formal mortgage offer will be sent for your solicitor to sign. Once signed and returned, the mortgage is set and you will be ready to exchange contracts.

Week 6-8: Exchange of contracts

In your final weeks of your buying journey, the contract will both be signed by you and the seller. The deposit, usually 5-10% of the purchase price, is transferred or paid by your solicitor in the form of a bankers draft. At this stage, you’ll be happy to know that the transaction is now legally binding and completion dates are set.

Week 8-10: Completion

Your completion date is agreed by you and the seller. On completion day, the balance of payment is transferred from your solicitor to the seller’s solicitor. Your solicitor will then notify you and you can move into your new home.