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#FirstTimeBuyer: Week 5 – Returning to the Diary of a First-time Buyer

When we left off in November, our offer had been accepted on a 2 Bedroom home with a garden. We had attended two viewings of the property, and whilst it clearly needed quite a lot of decorating to get it up to date, there was a relatively new boiler, recently installed central heating, and all of the essentials that we were looking for. As I write this, I am sitting in the living room in an armchair, so things did work out, but there's quite a bit we have learned from the experience.

From the date of making the offer, we contacted our mortgage broker, and he set us up with a solicitor to begin the conveyancing process. The broker recommended a solicitor he had used before, and though it was a traditional solicitor (not an online firm) it was not very local to us, however this wasn't going to be a problem we thought as we would only have to drive once to meet the solicitor to sign the final papers.

Because we are both self-employed, the lender for our mortgage did actually make our broker jump through quite a few hoops, and the impression we got was that some persistence was required. We did get a notification from the lender that our mortgage application had been received, and therefore a mortgage valuation would take place to decide whether the mortgage would be granted on the property. Three weeks later we actually received the mortgage offer in writing, which was a bit of a nervous wait... 

Whilst the mortgage process was ongoing, our solicitor was working at the same time on the conveyancing process and sending back and forth documents for us to read about the property, and bits and pieces that we had to sign and so on. It probably goes without saying, but it helps to be organised with this paperwork and be disciplined in separating parts that need to be signed and sent back, parts that you need to keep, and parts that can't be actioned yet, as there will likely be quite a lot of paperwork! 

It's also worth having something else to keep your mind occupied, as when things are out of your hands and there's nothing you can do, it's easy to worry and start to stress, but this doesn't really help! For us, Cameron were on hand to ease our mind if we needed some reassurance!

19/03/18 By First Time Buyer
Tags: First Time Buyer, Property, UK
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