You should:
- Register with a number of different estate agents
- Check the property pages of the local newspapers – these will also include property that is not being sold through an estate agent and these homes may be cheaper as a result
- Visit a lot of properties
- Do not be afraid to go back for a second or even a third look. Do take notes – it is easy to forget things when you have left the property, and you can easily confuse two properties
- Try to ignore decor and furnishings, and picture the property empty
Mortgages will be given on most buildings provided they are structurally sound.
If the basic amenities of hot and cold water, an inside toilet and a fixed bath or shower are lacking, then lenders must have an assurance that they will be installed immediately.
But problems may arise getting a mortgage in the following areas:
- Leasehold properties with short leases. Lenders will require that the lease should run for at least 20 years after the mortgage has been completely repaid.
- Converted flats. Most lenders will lend on converted flats as long as the conversion is structurally sound and the lease takes into account the maintenance and repair of the common parts of the building. You should check with your chosen lender about this.
- Freehold flats may not be acceptable due to legal difficulties in keeping the building in repair. Again, you should check with your lender.
Viewing properties
You should be clear about the estate agent’s position. He or she is working for the seller of the property and receives a fee based on the price paid for the property – remember this when it comes to taking their advice on what to offer.
The agent is legally obliged to give you an accurate description of the property. It is a criminal offence for estate agents to leave out something important or make false statements about any property.
Any misdescriptions by an estate agent should be reported to your local trading standards office.
When you are viewing several properties it can be difficult to remember important details once the viewing is over. It helps to take somebody with you when you are viewing to give a second opinion.
Use our viewing checklists when looking at properties and fill them in as you go round.
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