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The House Buying Process
Surveys
Unless you are putting a large deposit down on the property, your mortgage company or lender will probably carry out a survey for its own purposes. This is called a valuation and simply verifies that the property is adequate security for the lender's loan.
For your own peace of mind, and perhaps as a bargaining tool, it's therefore a good idea to commission your own survey. This can be either a Home Buyer's Report which is designed to detail key features of the property so that the buyer is in an informed position when considering whether to proceed or not or the more comprehensive full structural survey which will highlight all information on every detail necessary to form a complete judgement on the condition of the property.
Having your own survey carried out will ensure you are aware of any problems such as damp, dry rot or subsidence. It will also highlight remedial work that needs doing, which can be factored into the price. A survey could even save you from buying an unsuitable property
Useful websites
www.rics.org.uk – industry body.
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 FirstRungNow has been set up to help first time buyers.
With prices so high in the UK, many need to be shown what the financing and ownership options are. FirstRungNow is the place to go.
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The Key Worker Living scheme was launched in the spring of 2004. Are you entitled?
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Buy a share of a property, and pay rent on the rest to make it affordable.
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If you are thinking of buying a first home, it is important you find out how much you can borrow and you understand the costs and how much deposit you will be able to put towards it.
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