The Cornerstone Guide to Property Purchase

Contact Mortgage Broker.

Find out how much you can borrow. You can find this out with minimum effort and inconvenience.

Work out what it will cost.

Its time to get it all down on paper. Take into consideration the costs involved in purchasing a property. We pride ourselves in the fact that we support our clients as well as providing advice. Give us a call about these costs when inquiring about your mortgage.

Location.

Its time to start searching for that dream home. List out your priorities as in location of child minders, schools, distance to work etc. Most importantly think location. Be conscious of capital appreciation and resale value. Then begin your search.

Get Legal Advice.

Buying a home is a big financial decision and making sure every thing is done properly provides real peace of mind. Your solicitor will look after all the legal paper work involved in buying your home. If you don't have a solicitor, we would be happy to recommend one to you.

Types of Offers.

Depending on the type of house you are looking to buy there is a number of ways to make an offer. these include deposit up front, a verbal offer (private treaty), a sealed bid or an auction. For more information on these please feel free to talk to us.

Get Mortgage process complete.

Its time to finalise the mortgage application process. You will have to decide with our advice and support such details as you mortgage repayment, interest rate, mortgage protection etc.

Property Valuation.

Once you've decided to go ahead and before you do anything else, a property valuation must be arranged. This ensures the property is worth at least the amount you want to borrow. Cornerstone Mortgage Company will arrange this for you.

Final stage of Mortgage.

When the lender formally agree to provide you with your mortgage they will forward a Letter of Offer. This is legal document and will be sent to your solicitor. You and your solicitor need to read through this written offer, sign it and return to the mortgage company. The funds will then be there when you need them.

Exchange of contracts.

Once your offer on the property has been accepted by the seller you can breath a huge sigh of relief. Then inform your solicitor who will confirm this in writing. The relevant searches will be made to confirm property details. The sellers solicitor will draw up a contact which your solicitor will examine. Once the contract has been agreed you sign it and give it back to your solicitor with a deposit. Your solicitor then completes the legal paper work. You are now committed to buying the property.

Home insurance and Life assurance.

It is necessary to take out mortgage protection and building insurance. This is to protect you and your new home. Cornerstone Mortgage Company can arrange your Mortgage Protection Insurance introduce you to an agent for home insurance this will finalise your mortgage details.