Step by Step Guide to Buying New Homes in London
Organise your Finances
Before beginning your search for new homes in London, it is wise to arrange your finances. This process may involve agreeing a mortgage in principle or making funds available; this is with the view that confirming your financial situation beforehand will ultimately dictate your property search.
We work closely with a number of mortgage brokers, all of whom are capable and willing to assess your circumstances and ensure you receive the best mortgage available. Acquiring a mortgage can be a very personal experience and it is important to work with someone you trust.
Our vast experience of the London new homes property market has allowed us to build up a comprehensive list of industry contacts. As such, we recommend mortgage brokers that share our values; they believe that any financial decision should be linked to your lifestyle, plans and future aspirations.
Register with MyLondonHome
It is our job to find you a new build property and the first step to doing so is to register your interest. You can call us on 020 7222 2500 or visit one of our offices where one of our agents can offer you expert advice catered to your requirements. There is also the opportunity to register your interest online or even enquire about a specific new build development. Beforehand, it is good to have an idea of a budget, a preferred area and any requirements to add to your "wish list".
Search for New Homes in London
Once you have registered with us, we can begin to refine your search; with a clear understanding of your needs and requirements we can send you a range of London new build properties matching your criteria. Our comprehensive alert system ensures you are constantly up-to-date via phone, email, SMS and even via post (upon request) as the latest new homes become available.
Viewing Central London New Homes
As a central London estate agent, we know that working professionals need flexible viewing hours. Our offices are open 8:30am-7pm Monday to Friday and 9am-5pm on weekends but, with convenience in mind, viewings can be arranged within a much wider time frame to cater for our serious buyers.
Buyers are accompanied with one our property consultants on viewings or site visits and are encouraged to ask any questions about a new build property. If we do not know the answer immediately, you can be guaranteed we will find out for you. The key to a successful viewing is a comfortable, welcoming environment and this is something that MyLondonHome have worked hard to achieve over the past twelve years.
Putting Forward an Offer
It is important you see a selection of properties to fully understand the London new homes property market. Once you find the right property for you, we will put your offer forward to the vendor. This offer can be as specific as you wish, as we relay any special requirements verbally and in writing to the vendor.
FYI: No legal obligations are in place on either side until the contracts are signed.
Instructing a Solicitor
The importance of a good solicitor cannot be underestimated when buying new build property; the successful acquisition of a property often relies heavily on the appointment of an experienced solicitor.
We can recommend a number of firms with a vast knowledge of the London property market.
Offer Accepted
Upon acceptance of an offer we begin processes to ensure the transition is as smooth as possible. You will need to pay a reservation fee, sign the reservation form and instruct the solicitor. You will also be required to send over some proof of identification and current address. Furthermore, proof of financial verification will also be needed to move to the next stage of making the property under offer.
Contract Exchange
The vendor's solicitor will then send a developers pack, normally about 1,000 pages, as well as a separate contract to the purchaser's solicitor.
Once these documents have been received and both parties agree the terms, the documents will be sent to the purchaser to sign, also requesting the funds. The vendor's solicitor will now send the contract to the vendor to sign.
Completion
Once both solicitors have received the signed contracts the purchase will be complete. For off plan you usually only need to initially pay the deposit fee, with the remaining monies to be paid once the property build has completed.
Congratulations you have just purchased a new home in London!