Moving Home - Stressful?

Some useful tips to massage away those moving anxieties

Buying a new home and selling your existing home can prove to be one of the most stressful experiences in life. There's always plenty to organise and plenty of things to go wrong.

Planning your purchase, your sale and your finances can be difficult enough without having to manage the whole process as well. Planning and research can save you fortunes on your moving costs and also relieve those stressful moments in the moving process that inevitably happen.

Selling Your Property

It is useful to establish a true value of your property before you put it on the market. Check what price 'the one that sold down the road' went for - having double glazing won't add thousands to your property, having an extra bedroom may do.

An independent mortgage valuation can be arranged from as little as £199 - this will allow you to know the likely value that a mortgage company will lend against, an estate agent telling you that the property is worth more is wasting his time as a mortgage company is unlikely to lend over 100% of purchase price on favourable terms.

Negotiate with estate agents on commission, most charge a percentage fee - as house prices have risen so have their fees, the amount of work involved and advertising costs are largely the same. Have you ever seen so many estate agents opening? Don't forget to remind estate agents that they are working for you and not the purchaser.

Buying Your Property

Affordability - having bought property before you are probably aware of many of the pitfalls involved in buying property. Unforeseen circumstances can easily lead to abortive sales adding substantially to costs. Work out a budget - stick to it and don't be tempted not to include the nasty surprises that you are now more aware of. Visit a property more than once to establish the true cost of repair, include these likely costs in your budget. Don't forget most people will want to start buying new furniture as well especially if moving to a larger property. If you think of a cost as a maybe, include it in your budget!

Research and Negotiating - negotiating property purchases successfully in your favour can make or save you thousands. Very few people win an argument without knowing what they are talking about! The vendor (house seller) is appointing an agent to work on his behalf, so either get a Professional to help you with your purchase or do the research; you need to know the prices, try and ascertain the vendors position, are they desperate to sell or in a long property chain. Make sure you know what you can afford and that the property is acceptable security for a mortgage, or limits the choice of lenders. Particular attention should be made when buying a non-freehold property such as most flats - let your advisor know if the property you intend to buy is unusual in any way.

Mortgages - a mortgage is more complex then finding the cheapest advertised rates. Charges are manifestly hidden in mortgages, for example a £1000 arrangement fee can be much more expensive than a monthly £50 saving. The best approach to a new mortgage is to carefully consider your financial position now, in the near future and long term - is your income likely to change, will you move again, do you understand interest rate movements on your mortgage, do you have additional expenses to plan for etc. A good advisor will help you come to your own conclusions about your requirements in a mortgage and recommend a suitable deal to match. Remember that mortgages are assessed on multiple criteria making it unlikely that you will get the same deal as your friends.

Fees - Check that you are aware of all fees before committing to a purchase. Fees could consist of broker fees (arrangement, advice), lender fees (valuation, arrangement, insurance, telegraphic transfer, mortgage indemnity, completion fees) and legal fees (stamp duty, solicitor fees, disbursement fees, title and environmental search fees).

We work for you

We don't work for anyone other than our clients - your satisfaction is in our interests. That's why we are happy to liaise with solicitors and estate agents to keep you regularly updated with your house purchase and to lend you our experience and support when problems occur.

Our advisers are here to help

Each adviser is experienced enough to assist you with your purchase and has access to the whole of the mortgage market. With over 7000 mortgage schemes available in the UK would you like some help?