Industry News
Buying a New Home: What Do I Need to Know?
1 May 2024
Whether you’re about to buy your first new home or are saving towards your future, it is important to have all the information to ensure your journey to homeownership is as smooth and enjoyable as possible. We’re here to be your guide throughout the process, ensuring a smooth transition into your dream home.
This handy guide outlines the key stages involved in buying a Fletcher Home, so you can embark on your new adventure with confidence.
Finding your perfect fit
The adventure starts with discovering your ideal Fletcher Home. Whether it’s a charming two-bedroom semi-detached or a spacious detached family home, explore our diverse range of properties to find the one that perfectly complements your lifestyle. Once you’ve set your sights on your dream home, you’ll need to complete a reservation form and secure it with a reservation fee (typically between £500 and £1,000).
Securing your mortgage
To make your dream a reality, you’ll need a mortgage. Consider enlisting the help of an independent financial advisor (IFA) or a mortgage advisor. Their expertise in navigating the mortgage market can save you a significant amount by securing the most suitable mortgage option for your financial situation.
Assembling your team
A crucial part of the home buying process is choosing a reliable solicitor. Conveyancing costs can vary, so we recommend obtaining quotes from several firms before making your decision. Once you’ve selected your solicitor, they’ll request an initial payment to cover search fees and other necessary outlays. Prompt payment ensures a smooth and efficient conveyancing process.
Making your mortgage move
Time is of the essence! To expedite the process, it’s vital to apply for your mortgage within a week of reserving your Fletcher Home. Your dedicated IFA will always be working to find the best mortgage deal for you. If you’re planning to utilise the Help to Buy scheme, be sure to contact them at this stage to complete your application as well.
Signing the contract
At least a week before contracts are exchanged, schedule a meeting with your solicitor. During this meeting, they’ll discuss the results of any searches conducted and ensure everything is in order for the exchange. This typically involves signing the contract and paying your exchange deposit, usually 10% of the purchase price.
The home stretch begins!
Once your solicitor exchanges contracts, a fixed completion date will be agreed upon. Alternatively, contracts might be exchanged “on notice,” meaning a specific completion date will be set when your Fletcher Home reaches a designated stage of construction.
Unveiling your new home
Shortly before completion, your Fletcher Homes sales consultant will arrange a pre-completion viewing of your new home. This is your opportunity to ensure everything meets your expectations before the final handover. Your consultant will also explain the procedures for the legal completion day.
Receiving your keys!
On completion day, your solicitor will handle the final purchase on your behalf, including securing any required mortgage funds. Once legal formalities are complete, your Fletcher Homes sales consultant will be waiting for you at the property, keys in hand! They’ll also read the meters and ensure a smooth handover of your new home.
Welcome home!
With the help of your removal company, it’s finally time to move in and start creating lasting memories in your new Fletcher Home. Unpack those boxes and start personalising your space to truly make it your own.
At Fletcher Homes, we’re committed to making your home buying journey an enjoyable and stress-free experience. Contact us today to explore our range of beautiful homes and let us guide you on your path to homeownership.
