Obtaining Mortgage Advice ...
'use a broker offering \'whole of market\' and not a limited panel of lenders'
Before you start to look for a property you should really see a \'whole of market\' mortgage advisor who will tell you the amount you can borrow and the most suitable mortgage product available to you – fixed, tracker, discount or standard variable rate mortgage, the choice of which would depend on your circumstances.
Robert Ellis has its own mortgage broking arm – The Mortgage Company – who will spend valuable time advising you of the most suitable mortgage option for you. The Mortgage Company will provide you with mortgages from the \'whole of the market\' and in additional offers a wide \'range of insurers\' from a selected panel of providers to meet all your insurance needs for your purchaser.
Many mortgage brokers currently offer mortgage products from a limited number of lenders and only offer one insurance provider.
We can assure you that we will obtain a fuller picture of what mortgage will best suit you through The Mortgage Company than you will be able to obtain from another local Estate Agent.
Your home may be repossessed if you do not keep up repayments on your mortgage
There is no charge for an initial consultation, however, for mortgage advice we can be paid a fee, usually £350.00
Confirm Your Interest In a Property and Make an Offer …
Knowing how much you can borrow will enable you to start searching for that dream home which may be your first property, a larger property to suit a growing family or a smaller home if you are downsizing.
If you come into any of the Robert Ellis branches we will sit down with you and show you properties available which suit your criteria. You can also find properties by looking at our own web site – robertellis.co.uk where full details with photographs and floor plans are displayed.
When you have viewed the property that fits your criteria let us know and you can make an offer as close to the asking price as suits your feeling about the property. We will submit all offers to our vendors and in 8 out of 10 cases we will agree a sale offer an offer has been made.
When we have agreed a sale we will write to both parties and their appointed solicitors and then work to an exchange of contracts and legal completion.
Choosing a Solicitor …
'use a local solicitor who you can meet to discuss any issues'
Robert Ellis have excellent working relationships with the solicitors based in Long Eaton, Beeston and Stapleford. All these solicitors work off a similar fee scale and we would be only too pleased to introduce you to a solicitor who will confirm in writing their charges and other costs that are involved when you buy or sell a home.
Be careful of agents who refer you to out of town conveyancing organisations and check and compare the costs they give you to those of local solicitors. These agents are often receiving a referral fee for passing you through to one of their solicitors which often means you will pay more for using their services. You will also not be able to pop in and talk through any issues that might arise.
Do You Need a Survey …
'use surveyors with local knowledge about values, construction type etc'
If you are buying a newer property the chances are there will not be any issues with defects that are more common with an older property. The valuation, which will be arranged through your Building Society or Bank, will therefore most likely be sufficient but if you do need a more in depth report you will require either a \'RICS Home Buyers Report\' or if there are more concerns about the property a \'Building Survey\'. If you are buying a property from Robert Ellis we can put you in touch with reputable local surveyors who will know the area well and provide you with a \'Home Buyers Report\' or \'Building Survey\' – costs for these report start at around £300 for a Home Buyers Report and £600 for a full Building Survey.
If you are purchasing a property from another Estate Agent, Robert Ellis would be only too pleased to provide you with an independent \'RICS Home Buyers Report\' or \'Building Survey\'. Any of our branch staff are able to put you in touch with our surveying department who can give you a fixed quote for carryout out either a Home Buyers Report or Building Survey.
How Long Will It Take …
The average time tends to be between 6 and 10 weeks but a transaction can take place more quickly if it is straightforward and no chain is involved.
When your lender has received their valuation report they will make you a mortgage offer and when your solicitor has received all the searches and answers to their enquiries they will be in a position to exchange contracts on your behalf which is the point you are legally committed to buying the property. There are usually a few days or weeks before completion takes place which is when all the money is transferred to the sellers solicitor and you will be given the keys for your new home and all the effort will have been worthwhile for you to start to enjoy this new phase of your life!
Note – when you do exchange contracts make sure you have your building insurance in place as you will now be responsible for the property. The Mortgage Company can make sure this happens if you have organised your mortgage and/or insurances through them.
For information about buying a home call any of our branch teams.
Long Eaton – 50 Market Place, Long Eaton, Nottingham NG10 1LT
Tel - 0115 946 1818
Beeston – 38 High Road, Beeston, Nottingham NG9 2JP
Tel - 0115 922 0888
Stapleford – 32 Derby Road, Stapleford, Nottingham NG9 7AA
Tel - 0115 949 0044
Survey & Professional – 2 Commercial Avenue, Beeston, Nottingham NG9 2NJ
Tel – 922 9919
Property Management – 92 High Road, Beeston, Nottingham NG9 2LF
Tel – 0115 922 9090
The Mortgage Company – 50 Market Place, Long Eaton, Nottingham NG10 1LT
Tel – 0115 946 0444
The Mortgage Company - 38 High Road, Beeston, Nottingham NG9 2JP
Tel: 0115 967 7177
The Mortgage Company – 32 Derby Road, Stapleford, Nottingham NG9 7AA
Tel – 0115 939 5400