Step by step on how to buy a house?

mattystorey001

I have basically no idea on what needs to be done to buy a house..

I understand i need to goto a bank and get a mortgage confirmed/signed with the amount i can borrow then start looking for houses?

What next? stamp duty? surveyors? etc? etc?

I worked out i can afford approx 700-800£ a month, i do not have any savings for a deposit so i assume i will have to get a 100% mortgage.

Thanks

Matt.

lxpeanut

try this rightmove first time buyers guide

dellboy102

Is there anything with more detailed covering everything, I'm in my early twenties and a bit clueless on how it works.

Robert_Sterling_3

Your local library wilkl probably have books with titles like.
The Which Guide To Buying A House.

I will guide you to it.



http://www.home.co.uk/guides/buying/

feisty1

quote=mattystorey001;discussion/376472]I understand i need to goto a bank and get a mortgage confirmed/signed with the amount i can borrow then start looking for houses?

If you go to a bank you will only be offered mortgages which that bank provides..........limiting your choice. Many banks employ Customer Service Advisers, as a first time buyer you may not be aware that this means you wouldn't receive advice.

You are a first time buyer about to make your largest financial commitment, therefore professional advice would be recommended.

Can you ask family/friends/colleagues to recommend an independent adviser (whole of market) they have used and have been happy with.........Independent advisers are more likely to hold yr hand/be at the end of the fone if you have any enquiries etc.......bank staff are targeted and have x amount of appointments they must fill in a day, where as an independent will give you the time you need and they don't work 9-5, they will fit around you, so u don't have to take time off work etc.........

feisty1

this may also help

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/BuyingYourHome/DG_4018090

Charlton_King

1. Will any lender actually give out 100% mortgages at the moment?

2. Why is it, if you can 'afford £700-£800 per month, that you have accumulated nothing by way of savings to contribute to a deposit...? (This little thought might just run through the mind of any potential lender, wouldn't you say?)

feisty1

Charlton_King wrote: »

1. Will any lender actually give out 100% mortgages at the moment?



ah missed that!........start saving!

Conrad

90% is likely to be the max.
Some on this forum indicate they have found 95% mortgages, but they are very much rationed to the very best clients and I doubt you'll get more than 3.5x basic income at 95%.

getmore4less

Debt - £5578
Amex - £3128.72 @ 4% life of balance
Natwest - £2449.48
Possible total debt outcome on 30th June 2007 : £1743.17!!

Might want to update your sig.