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When to start looking?
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Posts: 16 Forumite
I've been doing lots of research into where I want to buy and into mortgage providers etc. I've now got a full budget worked out, deposit saved, shortlist of mortgage providers to approach and know what area I'm looking at, and there are quite a few properties in that area that I'd be interested in.
I'm currently renting a property until the end of June and can't afford to pay a mortgage and rent for more than one month of crossover, but I'm not sure that my landlord would let me go onto a rolling contract - they're likely to want to know in May if we want to renew our lease. When is the best time to start getting a mortgage in principle or view properties? I don't want to start too early. I suppose there is no straightforward answer but when would be a good time to start seriously looking at properties with a view to making an offer?
Also, I thought the gap between exchange and completion could be relatively short but if I'm interested in leasehold flats, I've heard it can take a while due to involvement of flat management companies. Anybody had any experience on how long it would take?
Grateful for any guidance!
I'm currently renting a property until the end of June and can't afford to pay a mortgage and rent for more than one month of crossover, but I'm not sure that my landlord would let me go onto a rolling contract - they're likely to want to know in May if we want to renew our lease. When is the best time to start getting a mortgage in principle or view properties? I don't want to start too early. I suppose there is no straightforward answer but when would be a good time to start seriously looking at properties with a view to making an offer?
Also, I thought the gap between exchange and completion could be relatively short but if I'm interested in leasehold flats, I've heard it can take a while due to involvement of flat management companies. Anybody had any experience on how long it would take?
Grateful for any guidance!
0
Comments
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I bought a house recently and it took three months from exchange to completion. It took me two years to find the right house. It can be a bumpy ride. On that basis I would be looking now if it was me. An agreement in principle is valid for six months I believe, well it was for me.0
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