Searching for your next home can consume a lot of time and energy. We help to make the home search and buying experience more constructive and enjoyable, by offering clear guidance and as much visual and other information as possible on all properties on our database. These factors help ensure viewings are a positive experience for buyers and vendors, and substantially reduces a lot of time waste.
Should you not find what you are looking for please register your details with us so you can be the first person to know should a new property come on the market. Furthermore we can search our wide range of contacts for properties the match your requirements and arrange viewings on your behalf - taking the stress out of property searching!
Buying Guide
Set your budget | Speak to your bank to discuss what mortgage you can afford. Set a budget and stick to it! There is no need to commit to anything now, but be sure to get a mortgage agreement in principle. In addition you will have to take into account the one off costs of buying a property such as surveyor fees, mortgage set up, legal fees and stamp duty. Typically a mortgage provider will provide you with 3.5 to 4.5 times your annual income; you will then have to further supplement that with your own investments. Nowadays Banks are likely to require you to put a deposit of 25% of the value of the house down. Please see our mortgage calculator for a rough guide of monthly repayments. Back to top |
Lay down your requirements | Layout your criteria in the most important order to you. Factors you might want to consider are; location, size, bedrooms, outdoor space, leasehold or freehold, character and whether the property is an investment or a home. This will make the home searching much easier and will allow us to match properties more closely to your requirements resulting in less wasted time. Back to top |
Register | Register your requirements with us, that way we can send you details for matching properties, should we not have any on our books we can search our partners for your perfect home on your behalf. We will compile a list of suitable properties and all you need to do is to tell us what properties you would like to view and we will try our best to arrange them at a convenient time for you. Back to top |
Make an offer | Once you have found the home you have been looking for you can make an offer, which our negotiator will advise you on and pass onto the vendor. We will let you know as soon as possible whether the offer is accepted or not. Back to top |
Start the buying procedure | Should your offer be accepted, Executive Homes will initiate the buying process by preparing the sales memorandum and other sales documentation. Both your solicitors and the vendors will be instructed to proceed with the legal formalities. If requested we can endeavour to advise and arrange surveyance on your behalf. Back to top |
Formalities | Our main goal is to guide you through these formalities as smoothly as possible, ensuring that you have a quick and stress free purchase. We will keep you informed about any potential issues such as chains and contract races. This will help avoid any chances of ‘Gazumping’ – whereby a seller, despite accepting your offer, goes back on their word and sells to another buyer instead, keeping you in the lurch. Back to top |
Taxes | Stamp duty is a tax on transfers of land or property and the creation of leases. It is paid to the inland revenue upon completion of sale. Whether or not the transaction involves payment of money and/or non-monetary consideration. Buyers should take note of these thresholds as they can be significant.
SDLT on residential land or property - freehold or leasehold | Purchase price/lease premium or transfer value | SDLT rate | SDLT rate for first-time buyers | | Up to £125,000 | Zero | Zero | | Over £125,000 to £250,000 | 1% | Zero | | Over £250,000 to £500,000 | 3% | 3% | | Over £500,000 | 4% | 4% |
Other taxes buyer may want to take into account, especially if the property is buy to let, are; the Taxation of income from Land (non residents) Regulations 1995, the rent receiving agent (or where there is no agent, the tenant) will be required to deduct an amount equivalent to Basic Rate Tax from the rent (after taking deductible expenses paid by the agent into account) and pay the balance to the Inland Revenue each quarter. However, the overseas landlord can apply to the Inland Revenue for exemption from this requirement.
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Land Registry | Some properties can be more complicated than others when it comes to land registration. Many properties now are registered at the land registry. The register is divided into three parts. Firstly, the property register which describes the property. Secondly the proprietorship registry which records who owns the property and the price paid. Thirdly, the charges register, which gives details such as mortgages charged against the property. Photocopies of the register can be obtained and we can help find you the paperwork required. Unregistered properties can become more complicated. When they are sold they must have their title registered with the Land Registry. To do this the title deeds will have to be read through and processed by both parties before submitting the relevant contracts and documents to the Land Registry, which can take time. Back to top |
Exchange | Once contracts are exchanged you are legally obliged to complete the sale, unless both parties mutually agree to terminate it. Within the contracts there will be a completion date – you may want to keep this date in the diary – as this is the date you can pick up your keys and open a bottle of champagne in your new house! In between these dates Executive Homes will be happy to help with any queries or arrange other services such as a removals or maintenance.
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..... and that’s it! We wish you good luck in finding your new home!
