The Scottish and English system of buying property is very similar and there are steps listed below that you would look to follow:
- Speak to your Mortgage Adviser at Stisi Group first and establish how much you can borrow. Set the monthly budget on how much you can comfortably spend each month on your mortgage and any other related costs. We can also look to obtain you a decision in principle from a mortgage lender and put you in touch with a reputable solicitor for when the time is right to put an offer in if you do not have one already.
- Locate your new property by whichever means possible e.g. property portals like Rightmove, directly on any estate agent website, social media or a good old fashioned For Sale board.
- Contact your solicitor and they can discuss with you what an appropriate offer might be for the new property. This can vary depending on how the property is being advertised e.g. ‘fixed price’, ‘offers over’, or if the property is going to a closing date where any interested party will put in a blind offer against the other parties.
- Once you have your offer accepted it’s now time to contact your Mortgage Adviser at Stisi Group again so we can arrange to obtain all your documentation and submit your full mortgage application.
- Once your application has been fully approved along with the valuation report, you will receive a full mortgage offer.
- This will now allow your solicitor to take over the reigns and carry on with all the legal work behind the scenes. They will arrange entry dates to the property whilst obtaining all the necessary paperwork from you to complete everything they are required to do.
- All that remains is that you hold on for your anticipated completion date and pay any monies over to your solicitor which are due for any deposit required. The solicitor will arrange to draw the mortgage funds down from the lender and complete the transaction by paying the other side on the day of completion (the move in day!)
- Breathe a sigh of relief and celebrate!