Buyer 's Guide

A Buyer's guide to moving in:
  • Obtain an 'in-principle' mortgage offer, using a broker if necessary.
  • Home in on property portals like Rightmove and Zoopla.
  • Research property prices,locations, bedrooms,garden, garage, schools ,etc. Adjustyour search if necessary.
  • Decide priorities. Freehold? Leasehold? House? Flat? etc.
  • Contact Estate Agents, to arrange viewings.
  • Make an offer.
  • Appoint a solicitor to carry out local searches and draw up a draft contract.
  • Apply for a firm mortgage offer - which will depend upon a survey of the property's value.
  • Arranging a structural Survey is up to you.
  • Contracts are exchanged. A 10% deposit is paid.
  • Completion is usually several days or weeks later. The balance of the purchase price is paid. You are handed the keys to your new home.
Mortgages made easier:

A mortgage is a loan secured against your home - which may be repossessed if you fail to keep up your repayments.

With such a bewildering choice of providers, repayment schemes and interest rates, un-biased expert advice is essential.

There are two repayment schemes.

Repayment mortgage

under this scheme you pay capital and interest each month .

Interest-only

under this scheme you pay only interest to the lender on the outstanding balance. You repay the capital at the end of the term .Some lenders offer a combination of the two schemes.

Interest rates

There are many different types of interest schemes such as Fixed, Discount, Capped and collar, Flexible,current account, offset, tracker or even a combination of these schemes.

Buy to let mortgages

For Landlords a Buy to let mortgage is available from various lenders. Very useful for Landlords and property investors.

Re mortgage:

If you need further finance to improve your home or for other uses you can raise extra money on the home. This depends on your ability to pay and equity in your exiting home. Please seek expert advice from an independent financial broker.

What is APR?

It takes into account other costs, such as any booking fee, arrangement fee etc. All lenders quote the standard rate and the APR. It gives a more accurate indication of which mortgage is likely to be cheaper over the whole mortgage term. It is important to compare different lenders APR rates.

Ask an Independent Mortgage Broker!

It's the only way of ensuring that you choose the right mortgage. We can introduce you to a mortgage broker regulated by the FCA. To find out more, call 020 8390 8500, email rhakesh@mahadeos.co.uk.

Mortgage Calculator
ENERGY PERFORMANCE CERTIFICATE (EPC)

An EPC gives vital information to buyers or tenants. It defines a property's energy use and carbon dioxide emissions. It gives information about the Energy Efficiency of a property using a rating system from A - Excellent to G-Poor. It can helpoccupants to reduce their energy bills and carbon dioxide emissions.

Anyone selling or letting out property must order an EPC from an Accredited Assessor.

For a competitive quote from an Accredited Assessor, call Rhakesh Mahadeo 020 8390 8500 or email rhakesh@mahadeos.co.uk.

CONVEYANCING

This process - the legal transfer of home ownership from seller to buyer - starts when an offer is accepted and finishes when the keys are handed over.

Choosing the right solicitor is vital. Not only can we introduce you to a solicitor who specialises in conveyancing, we will keep in constant touch with them, ensuring that the process goes as smoothly as possible.

We will also keep you constantly informed, by SMS Text, email, phone -you choose!

Services provided by our legal associates include:

  • Buying and selling property
  • Co-ownership issues
  • Leasehold Matters
  • Re-Mortgages
  • Buy to let transactions
  • Equity Release
  • Transfer of Equity

We can recommend you to a panel of solicitors. However you must make your own enquiries as to which solicitor you choose to act for you. Call Rhakesh Mahadeo on 020 8390 8500 or email rhakesh@mahadeos.co.uk.

Surveys

Demanded by Building Societies and other lenders; insisted on by sensible buyers.

We work in association with several Chartered Surveyors who provide independent advice and reports on property value. Their services include Home Buyer surveys and full structural surveys for houses, flats and bungalows.

We can recommend you to a panel of solicitors. However you must make your own enquiries as to which solicitor you choose to act for you. Call Rhakesh Mahadeo on 020 8390 8500 or email rhakesh@mahadeos.co.uk.

INSURANCE

Building insurance protects your home from most risks: fire, theft and weather damage.

Property insurance covers every type of building - barn conversions, factories, shops, office blocks, residential buildings, student lets, overseas and unoccupied properties.

It also covers buildings constructed of non-standard materials and properties at high risk of flooding or subsidence.

Whether you own freehold or leasehold property you need to arrange a policy cover through selected major Insurers in the UK to provide a comprehensive policy at a competitive price, tailored to your needs.

Many covers come as standard, and there are options for others to be added as required. The amount insured needs to be in step with the property, and prices fluctuate in the ever changing property market.

Why Insurance is vital:
  • It's demanded by mortgage lenders and other loan providers
  • It provides essential protection for your property
  • Provides peace-of-mind security
Contents Insurance:

Besides Building cover you may also need contents cover - for risks to equipment, jewellery, cash etc.

The market for insurance is vast. We can introduce you to an Independent Insurance Broker Regulated by the FCA.

Please call 0208 390 8500 or email rhakesh@mahadeos.co.uk.

Mahadeo & Co - Moving house made easier!