, so you can book them for the date you want to make the move. Before you go, it is worth contacting the utility providers of your current residence to let them know you will be leaving – some may transfer their service to your new property, while others may need notice before closing your account . If you need to set up a new broadband service , you may want to get the process going early, as it can take several weeks to complete. Other things to think about include getting your post forwarded, and visiting your new property again to measure for any new furniture you might need to order. Also, if your seller is part of a further chain, be prepared for some delays – any delays or difficulties further up that chain could impact your timeline. Once you're moved in, remember to notify your local council to update your new council tax records, and take meter readings to pass on to the utilities companies. Buying a home is a huge decision, and – in addition to the nuts and bolts of how to make the move happen – you'll need to find out things like whether the property you're interested in comes with a leasehold contract, and what that means for you. Separately, what is your plan if you're unable to buy the property you want, but you've already sold your own home? And what will you do if you move in somewhere, only to find the property isn't up to scratch? Luckily, we have some advice on all of these eventualities. Leasehold properties have hit the headlines in recent years, due to possible instances of properties being sold with unfair terms, as well as ongoing concerns around cladding following the Grenfell Tower fire tragedy, with many flat owners having to pick up the cost of having flammable cladding removed. Buying a leasehold){kind=link}
Navigate the many steps to getting on, or moving along, the property ladder
Buying a home – whether it’s your first or your fifteenth – is commonly ranked as one of life’s most stressful events. This year, mortgage chaos and an uncertain outlook for the housing market have added further complications.
Mortgage rates are currently at a 15-year high, thanks to successive interest rate rises since its historic low of 0.1pc in December 2021. Thousands of homeowners are seeing their mortgage bills increase by hundreds of pounds a month, while house prices in some areas are taking a tumble.
Even during less volatile times, buying a house involves a seemingly endless list of tasks and decisions – but you can cut the stress by using the right tools and finding the right professionals to provide support at key moments.
To help you keep track of what you need to do – from working out what you can spend right through moving in your belongings – we set out the key steps on how to buy a property.