GETTING YOUR HEAD AND MONEY READY CHECKLISTS UNDERSTAND YOUR FINANCES Check your credit score (for example at Experian) Create a personal budget Make sure you’re on the electoral roll Review your income and monthly outgoings Identify any outstanding debts (loans, credit cards, overdrafts) and start reducing debts where possible START SAVING
Save for a deposit (usually 5-20% of the property price) Save for extra costs (legal fees, surveys, removals, furniture) GET ORGANISED Gather key documents: Photo ID (passport or driving licence) Recent payslips (usually the past three months) Bank statements (last three to six months) Proof of deposit savings Avoid big financial changes in this period (new credit cards, large purchases) WORK OUT YOUR BUDGET Decide on a monthly budget Factor in running costs: Council tax Utilities Service charges / ground rent (if applicable) Cost of moving home Leave room for emergencies SPEAK TO PROFESSIONALS Talk to a mortgage adviser or broker Get a Mortgage Agreement in Principle (AIP) Understand different mortgage types (fixed, tracker, term length) KNOW YOUR BUYING POWER Confirm your maximum purchase price Decide what’s non-negotiable vs nice-to-have BEGIN THE PROPERTY SEARCH START VIEWING Register with estate agents / developers Set up online alerts (for example with Zoopla and developer sites) View a range of properties to compare value Ask the right questions
WHAT’S INCLUDED IN THE PRICE? How long is the lease (if leasehold)? What are service charges / ground rent? Is there parking, storage, outdoor space?
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