Date post: | 03-Aug-2015 |
Category: |
Real Estate |
Upload: | yourconveyancingservices |
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Process of Residential Coveyancing
Process of House Buying
Property Search
Making an offer
Getting a Mortgage
Valuing the Property Mortgage Offer
Conveyancing (the legal work)
Completion & moving in
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RequirementPoints to be considered before you will be eligible to buy a house
Credit score check: The average Credit Score is 780 in the UK. Reference: http://www.experian.co.uk/
Deposit (15-25%): To get a mortgage that is 4 times of your earnings you will require a deposit of between 15%-25%.
Constant Earning: There would be constant earning at least £25,000 every year. Lenders also would like to see at least 6 months pay as a proof.
The Process
Once cleared the above step, now you start your house buying process as mentioned below:
Unbeatable features:
Combined Loan Value: £216,000
Male: £30,000 * 4 = £120,000 Female: £24,000 * 4 = £96,000
Average UK Salary
4* Mortgage Loan: You can get mortgage loan 4 times of your yearly combined earning.
Mortgage in Principle: Your mortgage in principle will tell you whether you are eligible to attain a mortgage.
Search a house: After knowing the mortgage value you can find your desired house that suits your pocket.
Surveyor: Surveyor will define the value of your house and report back to the bank.
Mortgage Offer: Lender will finalise your mortgage offer after the valuation of surveyor and they are satisfied you can afford the repayments, taking into account income, outgoings and existing debts.
Conveyancing solicitor: will undertake all the legal searches for the property and liaise with the sellers’ solicitor up to exchange of contracts and completion of the sale.
Deposit (15-25%): Deposit will be given to the conveyancing solicitor.
Bank LBank Loan: Depending on the mortgage offer agreed bank will issue this loan to the conveyancing solicitors.
Solicitors: After combining deposit and bank loan, solicitor will make up 100% of the agreed price with the seller.
Benefit of Your Conveyancing Services
Conveyancing from ONLY £98 plus VAT
Lowest Legal Fees Guaranteed
Expert Residential Conveyancing Solicitors
Highly Efficient & Professional Service
Arranging all Required Inspections
Committed Staff
Limited special offerLEASEHOLD Purchases for FREEHOLD PRICES
http://www.yourconveyancingservices.com/35 Stow Hill, Newport, NP20 1JE
0845 868 1782
Currently in the UK the average house buying process takes 3 months, but your residential conveyancer can make this easier. HAPPY HOUSE
HUNTING
CONCLUSION