Buying a new home can be a stressful and time-consuming experience. Here at Benfield Homes, we aim to make the whole purchasing process as smooth as possible. Our highly experienced team of sales advisors will provide as much advice and support as you need to ensure your move is completed swiftly and within an agreed time scale.
To help with your purchase we’ve compiled a simple guide to buying your new home for you…
Choosing your Benfield Home
The whole process begins when you choose and reserve your perfect Benfield Home. You will need to complete a reservation form and pay a reservation fee, which is usually between £350 and £500.
Appoint an Independent Financial Advisor (IFA)
To finance your mortgage, you will need to appoint an independent financial advisor (IFA), or a mortgage advisor. If you don’t have one, our sales advisors can put you in touch with a good IFA. With a wide selection of mortgage products, a good IFA can help save you thousands of pounds by finding the right mortgage for you.
Appoint a solicitor
Conveyancing costs can vary from practice to practice, so we recommend that you speak to several solicitors to get quotations before you choose one. Once you’ve appointed a solicitor, you’ll be asked to pay some initial costs to cover search costs etc. It’s important to pay these straight away to prevent delaying the conveyancing process.
Apply for your Mortgage
Once you have appointed an IFA, they will work diligently to find you the best mortgage deal. It is important to progress your application immediately and pay for any survey fees etc. Ideally, you should have applied for your mortgage within a week of reserving your home.
Make an appointment with your Solicitor
You will need to meet with your solicitor at least one week before exchanging contracts. At this meeting they will talk you through the results of any credit searches and will want to ensure everything is in order ready to exchange contracts. The final step will be to sign your contract and pay your exchange deposit (which is usually 10% of the purchase price).
Exchange of contracts
Once your solicitor exchanges contracts, a legal completion date will be set or if your home is at the early stages of construction you will exchange on notice with a completion date to be set nearer to construction completion.
Shortly before the completion date, our sales consultant will make an appointment for you to view your new home. This viewing gives you the opportunity to see everything prior to moving in and check that you are completely satisfied with your house before the final handover.
Your solicitor completes the purchase on your behalf, drawing down mortgage funds as required. Once legal completion takes place, the keys to your home will be presented by your sales consultant who will meet you at the property to read your meters and ensure a smooth handover.
With the help of your removal company (or family and friends!), its time to unpack those boxes, put the kettle on, and make our Benfield Home, your home.
Without a doubt the most important step! The moving in process is complete and it’s time for you and your family to kick back and enjoy your new home, with the added security that your Benfield Home comes with a 10 year NHBC Buildmark warranty.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT