Buying Your Property Through Oxfordshire Estates
- Most importantly you need to access what your affordability is.
- Speak to a Mortgage Broker or contact your Bank
- Arrange a meeting to ascertain what your level of affordability is
- Provide all necessary paperwork required including payslip and Proof of Funds
Finding the Right Property
- Compile a list of the essentials you require from a property and the area you wish to purchase in.
- Register your details with us through our website (put in a link here to register), Rightmove and On The Market for alerts. This will ensure that you are notified as soon as properties come onto the market.
- View a property with an open mind – whilst it may not tick all the boxes it could have potential and be the perfect property!
Offer, Proof of Purchase and Anti-Money Laundering
- When you have found a property you will need to place an offer Subject To Contract.
- Along with your offer we shall request proof of your position to purchase and financial qualification. This will include a copy of a Mortgage Certificate, Mortgage agreed in principle or details for your Financial Adviser.
- We shall also request Proof of your Identification and Residency for Anti Money Laundering Regulations. Our Policy can be downloaded here
- We shall submit your offer to the Seller with as much supporting documentation as possible.
- On acceptance Subject to Contract you will start the Mortgage and Conveyancing process.
Mortgages and Solicitors
You will need to begin the formal Application process with your Lender or Financial Adviser.
They will require various documentation from you and depending on their Terms and Conditions payment for a Valuation.
Your Lender will carry out a Mortgage Valuation for you. You may wish to proceed with a private Homebuyers or Building Survey yourself. This work is separate to the Mortgage Valuation which is carried out for your Lender to approve the Borrowing. A Private Survey is for your personal use and your choice of a Chartered Building Surveyor. We are able to recommend suitably qualified people who will represent you in confidence.
A Homebuyers or Buildings Survey will look into the property in further details including structural integrity, plumbing, roof, electrics and heating.
Once your Mortgage Valuation has taken place you will receive confirmation of an Offer from your Lender who will usually instruct your Solicitors to act for them.
Your Solicitors will send documentation to you for completion. This will include an Anti-Money Laundering Questionnaire. This will include the same information that you provide to your Lender for Anti-Money Laundering.
It is imperative that you provide this information so that the process is not delayed.
Your Solicitors will require advance payment for your Searches which will include a Local Authority, Water, Drainage and Environmental Enquiries.
Your Solicitors will deal with any matters arising and you can raise any queries with them.
Once the above processes have been completed, your solicitors will report to you with your contract papers which generally include:
- The TR1
- Mortgage Deed
These will need to be signed, checked and witnessed and returned as soon as possible.
Once your solicitor has received the completed paperwork and a Completion date has been agreed, we’re ready to exchange contracts (if you are part of a chain all parties will need to be ready to exchange contracts and agreeable to the completion date).
Exchange will take place via a phone call between solicitors.
Completion / Moving Day
It’s finally here, Moving Day has arrived! Today legal completion will take place.
Your solicitors will be in receipt of your remaining funds from the lender to carry out completion.
Funds will be sent onto the solicitors acting for the vendors, once received legal completion has taken place.
Congratulations, you are now the proud owner of your new home!