Buying Advice

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Buying property, especially if it is your first time, can be an exciting but daunting experience, as there will not only be a lot of paperwork and complicated procedures for you to go through, but you also will be required to place your trust in a number of different people along the way. It is common knowledge that the rewards of being a home owner are immense, both financially and personally, but make a small mistake and it could have a huge impact on you and your family for many years to come.

However, doing a little bit of homework and remaining vigilant throughout the process, will help you spot potential pitfalls long before you fall into them. Cross & Prior are always on hand, whether you are buying through us or not, to offer our honest and unbiased advice in order to assist you to make your buying experience as smooth and stress free as possible, and ultimately, help make your dream home a reality.

Setting your budget Deciding on the area

The first thing you will need to do is to establish a budget that
is both affordable and achievable. If your purchase is reliant
on a mortgage, remember - you are theoretically committing
yourself to a budget for the next ten or twenty years, therefore
this forward planning will be invaluable in order to protect you
and your home in the long run.
Your mortgage provider will offer you a mortgage based on
your age, the amount of deposit you have, and your income.
Each lender will have a different set of criteria and you should
shop around to secure the best terms possible, which will
allow you to comfortably meet your regular monthly outgoings,
and leaving you with some flexibility in your finances.
Before committing to your purchase, you should take account
of all the financial implications into your budget including:
Mortgage, Survey and Solicitor Fees, Insurance, and Stamp
Duty, if you are buying a Leasehold property, you will need to
consider Ground Rent and Service Charges, to ensure your
new found home does not become a financial burden.
One of the phrases widely used in the property market is
"location, location, location" and this is for a reason -
choosing the right area is every bit as important as finding
the right property. Whilst other major considerations are
imperative, the location you choose to live in is often the
aspect that will require some extra thought into your search.
There are many factors you should consider before deciding
on a suitable area, such as schools and transport links. We
suggest you draw up a list of your personal needs and then
them accordingly. Remember to keep an open mind and
be prepared to compromise as your search could quickly
become frustrating if you are limiting your criteria.

It is vital that you take the time to research potential areas
thoroughly, to ensure you get to know an area well, and
enable you to make a quick, confident and informed decision
- which is often needed in a buoyant property market. It is
also wise to talk to the local agents, as they can be a great
source of information about the local area.

Identifying the right property Understanding property jargon

When you are looking for your dream home, it is often easy
to buy with your heart and not your head, and overlook many
fundamental aspects before committing yourself. Therefore,
it is very important to ensure that the property you choose is a
suitable home for you and your family to live in - somewhere
you will to be able to enjoy for many years.
With this in mind you should always consider all factors such
as restrictive covenants, potential to extend, neighbouring
properties and lease restrictions. Unless you plan to move
again in a couple of years, you will also need to think ahead,
do not just mull over what you want in a property now, but also
weigh up your future requirements and circumstances.

Remember that to remain open minded but always trust your
instincts - you should try to avoid forming opinions of the
property based on the current owners tastes and décor, and
keep in mind that you may able to improve the property with
just a little bit of vision and by adding your own personal touch,
ultimately creating and defining your home over time.

Buying a new home can become one of the most demanding
times of your life, and is often made worse by many confusing
phrases and terms that you will likely encounter and may not
be completely familiar with. Therefore, it is essential that
you establish a good understanding of the terminology and
descriptions commonly used during the buying process.
You will also undoubtedly come cross a lot of legal jargon
that solicitors and mortgage lenders use, usually for the
reasons of precise meaning, which may not necessarily easily
understood by you. So if you are uncertain of anything you
should ask your agent, conveyancer and broker to explain
everything in clear, simple and easy to understand language.

You should never underestimate the importance of
communicating with everyone involved in the transaction, to
ensure that you are fully informed throughout the process.
This will allow you to react quickly and efficiently to any
unpredicted situation, avoid any unnecessary delays, and
bringing your purchase to a satisfactory conclusion.

Getting the right survey    Buy to let investment

Generally speaking, there is no best option when deciding on
the type of survey to opt for, as each property is unique, and
the one you need will largely depend on the type and age of
the property. If you have any doubts, it is certainly worth
taking time and discussing them with your agent or broker,
as they will be able to help you in the right direction.
It is important to not confuse a mortgage valuation report with
an actual property survey as this is merely carried out on
behalf of your lender to assess the value of the property.
Although it will offer you assurances that your investment is
sound, and the property is worth the amount you have agreed
to pay, it will not give you a real picture of its overall condition.

You will also have the choice to carry out a Homebuyer
survey, which will provide you with an in-depth assessment
of the property, along with recommendations for repairs and
maintenance. Alternatively, you can arrange for a more
expensive Building survey on a prospective property, to obtain
a comprehensive report about its current structural state.

Buy to let property has always been an attractive investment
for both long term and short term investors, who either have
the funds available to buy outright or are able to secure a BTL
mortgage. This is especially so at the moment as rental yields
on the up, demand is high, and supply is low, which all adds
up to a perfect mixture for future landlords.
Before investing in a property, it is crucial that you are fully
aware of the obligations which you will be taking on as a
landlord, as well as the opportunities. You should also have
a contingency fund as protection to cover any unforeseen
circumstances such as void periods and unexpected repairs,
to prevent you from the risk of possible financial difficulties.

When selecting a property, remember to concentrate on the
rental income you can expect to achieve, since the rent will
be the key return on your investment. Thus, it is always wise
to seek expert advice from Cross & Prior as we know the
market, what properties make the best investments, untimely
we will help you to successfully acquire the right property.

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Setting your budget	Deciding on the area
The first thing you will need to do is to establish a budget that is both affordable and achievable. If your purchase is reliant on a mortgage, remember - you are theoretically committing yourself to a budget for the next ten or twenty years, therefore this forward planning will be invaluable in order to protect you and your home in the long run. Your mortgage provider will offer you a mortgage based on your age, the amount of deposit you have, and your income. Each lender will have a different set of criteria and you should shop around to secure the best terms possible, which will allow you to comfortably meet your regular monthly outgoings, and leaving you with some flexibility in your finances. Before committing to your purchase, you should take account of all the financial implications into your budget including: Mortgage, Survey and Solicitor Fees, Insurance, and Stamp Duty, if you are buying a Leasehold property, you will need to consider Ground Rent and Service Charges, to ensure your new found home does not become a financial burden.	One of the phrases widely used in the property market is "location, location, location" and this is for a reason - choosing the right area is every bit as important as finding the right property. Whilst other major considerations are imperative, the location you choose to live in is often the aspect that will require some extra thought into your search. There are many factors you should consider before deciding on a suitable area, such as schools and transport links. We suggest you draw up a list of your personal needs and then them accordingly. Remember to keep an open mind and be prepared to compromise as your search could quickly become frustrating if you are limiting your criteria. It is vital that you take the time to research potential areas thoroughly, to ensure you get to know an area well, and enable you to make a quick, confident and informed decision - which is often needed in a buoyant property market. It is also wise to talk to the local agents, as they can be a great source of information about the local area.

Identifying the right property	Understanding property jargon
When you are looking for your dream home, it is often easy to buy with your heart and not your head, and overlook many fundamental aspects before committing yourself. Therefore, it is very important to ensure that the property you choose is a suitable home for you and your family to live in - somewhere you will to be able to enjoy for many years. With this in mind you should always consider all factors such as restrictive covenants, potential to extend, neighbouring properties and lease restrictions. Unless you plan to move again in a couple of years, you will also need to think ahead, do not just mull over what you want in a property now, but also weigh up your future requirements and circumstances. Remember that to remain open minded but always trust your instincts - you should try to avoid forming opinions of the property based on the current owners tastes and décor, and keep in mind that you may able to improve the property with just a little bit of vision and by adding your own personal touch, ultimately creating and defining your home over time.	Buying a new home can become one of the most demanding times of your life, and is often made worse by many confusing phrases and terms that you will likely encounter and may not be completely familiar with. Therefore, it is essential that you establish a good understanding of the terminology and descriptions commonly used during the buying process. You will also undoubtedly come cross a lot of legal jargon that solicitors and mortgage lenders use, usually for the reasons of precise meaning, which may not necessarily easily understood by you. So if you are uncertain of anything you should ask your agent, conveyancer and broker to explain everything in clear, simple and easy to understand language. You should never underestimate the importance of communicating with everyone involved in the transaction, to ensure that you are fully informed throughout the process. This will allow you to react quickly and efficiently to any unpredicted situation, avoid any unnecessary delays, and bringing your purchase to a satisfactory conclusion.

Getting the right survey	Buy to let investment
Generally speaking, there is no best option when deciding on the type of survey to opt for, as each property is unique, and the one you need will largely depend on the type and age of the property. If you have any doubts, it is certainly worth taking time and discussing them with your agent or broker, as they will be able to help you in the right direction. It is important to not confuse a mortgage valuation report with an actual property survey as this is merely carried out on behalf of your lender to assess the value of the property. Although it will offer you assurances that your investment is sound, and the property is worth the amount you have agreed to pay, it will not give you a real picture of its overall condition. You will also have the choice to carry out a Homebuyer survey, which will provide you with an in-depth assessment of the property, along with recommendations for repairs and maintenance. Alternatively, you can arrange for a more expensive Building survey on a prospective property, to obtain a comprehensive report about its current structural state.	Buy to let property has always been an attractive investment for both long term and short term investors, who either have the funds available to buy outright or are able to secure a BTL mortgage. This is especially so at the moment as rental yields on the up, demand is high, and supply is low, which all adds up to a perfect mixture for future landlords. Before investing in a property, it is crucial that you are fully aware of the obligations which you will be taking on as a landlord, as well as the opportunities. You should also have a contingency fund as protection to cover any unforeseen circumstances such as void periods and unexpected repairs, to prevent you from the risk of possible financial difficulties. When selecting a property, remember to concentrate on the rental income you can expect to achieve, since the rent will be the key return on your investment. Thus, it is always wise to seek expert advice from Cross & Prior as we know the market, what properties make the best investments, untimely we will help you to successfully acquire the right property.