Buying a new home is exciting, but it can seem a little daunting at the same time. Don’t worry it’s not as complicated as you might think and the steps below will show you exactly what’s involved.
Your bank or mortgage adviser will be able to tell how much you can borrow and how much deposit you’ll need. You can then get a mortgage agreed ‘in principle’ before you start looking for a property.
Don’t forget to budget for additional costs such as legal fees, Stamp Duty, council tax and utilities.
Contact us to find out about our current offers, including assistance with Legal fees and Stamp Duty
Now you now what your budget is, you can start looking for your new home. We have properties available to suit every lifestyle and budget and you can search for your new home by region, location or development.
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You’ll need a solicitor who specialises in conveyancing to take care of the legal aspects of the home buying process. We work with a panel of approved solicitors who can help you.
Contact us for information on our approved solicitors
This is similar to the ‘make an offer’ stage in the traditional home buying process. You pay a small fee to reserve your new home, which means that no one else can purchase it in the meantime.
If you’ve already spoken to your bank of mortgage adviser, you probably already have a mortgage agreed in principle. If not, we can put you in touch with our panel of mortgage providers who will help you find the type of mortgage that’s best for you.
Contact us for information on our approved mortgage advisers
Even though you’re buying a brand new house, your mortgage lender will still want to confirm its value and will appoint a specialist to visit the property and carry out a valuation and a survey for you. There are three main types of survey:
Your solicitor will carry out local searches to ensure there are no legal obstacles such as local plans, which may affect the property and undertake the conveyancing - formally transferring ownership from Dandara to you.
Buying a home is a big investment, so it’s important to have the appropriate insurance cover in place, such as life assurance, buildings and contents insurance.
As soon as all legal work is complete your solicitor exchanges contracts with us and you pay your deposit. You’ll be given a ‘completion date’ (when you become the legal owner) and you can organise your move.
On the completion date the full cost of the property is transferred from your mortgage lender to us and you become the legal owner of your new home. We’ll then take you around your new home to show you where everything is and how it all works before you move in.
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For information about first buyer schemes in your area contact us
Since 1988, Dandara has been at the forefront of property development providing quality homes, retail, leisure, industrial and office accommodation across the UK.
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Isle of Man Business Park
Isle of Man
01624 693 300