There’s something nice about discovering your dream home over a long weekend. No rushing to the viewing from work, time to visualise life there, maybe even arrange a second viewing. But once the excitement settles, what should you do next?
Here’s your step-by-step guide, so you’re not rushing into decisions and can move forward with confidence:
1. Understand Your Financial Position
Before making an offer, check how much you can realistically borrow. Speak with a mortgage advisor to review:
- Your deposit
- Current income and outgoings
- Any credit concerns or recent changes
A broker helps clarify what fits your budget and prevents offering on properties you can’t afford.
2. Secure a Mortgage in Principle (MIP)
Getting a Mortgage in Principle quickly strengthens your offer. It shows sellers you:
- Are serious and financially ready
- Understand your borrowing limit
- Are less likely to stall the sale
Even over a bank holiday, an MIP brings clarity and credibility.
3. Think Beyond the Price Tag
Remember, your offer price is just one piece. Sellers also consider:
- Flexibility on moving dates
- Awareness of local market value
- Any property chain your offer is attached to
Discuss timing with your broker. Some might prefer a quick exchange; others may value a smoother, slower completion more.
4. Keep Budgeting in Mind — Hidden Costs Are Real
Beyond the mortgage, consider:
- Conveyancing and survey fees
- Stamp duty (use the gov.uk calculator)
- Removal costs or minor renovations
Charge these into your budget in advance, even before officially bidding.
5. Leverage Local Insights
Our advisors know Nottingham and UK-wide lender quirks. Whether you’re in a competitive area or bidding in calm territory, you benefit from:
- Market familiarity
- Tailored lender options
- Negotiation tools that give your offer a competitive edge.
Finding your dream home over the Bank Holiday is exciting, but taking smart steps makes the smoothest progress. Start by securing your affordability, get a Mortgage in Principle, plan your offer, and budget for everything beyond the price.
Need help turning that dream into a bricks-and-mortar reality?
Contact Your Mortgage Shop today for friendly, expert support.
