House purchases

One thing is sure, moving home and office is a killer. Having just gone through the process myself I really empathise with my clients who move home!

Top Moving Tips:

DIP it -Get a decision in principle (DIP) from your lender before you put in an offer on a new purchase. If the agents and Vendor know you have the new mortgage in place, you are more likely to get a really low offer accepted.

Get a good deal -It’s a good idea to shop around, rather than just go back to your existing lender. There is quite a bit of competition among lenders at the moment, especially for the low loan to value, high credit scoring clients.

Look forFreebies – Some lenders are offering specials like free valuation or free legals on a purchase.

Computer says NO -Some lenders offer mortgages where the big lenders response is ‘computer says NO’. They offer assessment of risk by humans, and may pass a declined case.

Be misersable!! – f you are smiley and give positive comments as you go round a property 2 things happen 1. The agent will think he can talk up the offer price 2. You will be less likely to put in a really low offer. I know it goes against the grain, but be dead pan, no positive comments. KEEP THEM GUESSING!!

Think about a Lifetime Tracker – They follow the BOE base rate by a set margin for the lifetime of the mortgage. This may mean that you won’t ever need to change your mortgage again. It also means that you will save on remortage costs every 2 or 3 years.

Less Hassle – a broker can do most of the chasing – Agents, vendors, solicitors and insurance arrangements. It can take a lot of pressure off a stressful experience.