Step-by-step guide to successfully buying a new home

Monday, 18th December 2023

If you’re thinking about buying a new home, you’re in the right place. We have a good selection of properties available across North Wales and the North West of England. We also appreciate that it’s a big financial and emotional commitment, with lots of factors to consider. Read on to discover our step by step guide to buying a house, including how to get approved for a mortgage.

 

 

The house buying process in steps

Whether you’re buying a house for the first time or selling up and moving on, the process of buying a house are broadly the same.

  1. Check your finances and work out how much you can afford to pay for a new home. A mortgage broker with access to the entire mortgage market will be able to help with this. We have a handy mortgage calculator available on our website. When considering affordability, remember to factor in Stamp Duty (Land Transaction Tax in Wales), legal fees and your household bills.
  2. Make a list of what you want in a home including the location, number of bedrooms, energy efficiency. Read our guide to the new, new build to discover what sets our homes apart from the rest.
  3. Search for your new home. Our website includes a search function or you can use the slider to explore where we’re building. It includes 3D development maps with virtual show home tours of every house type furnished or unfurnished. Click through to the property you’re considering buying and scroll down the page. You’ll be able to input your deposit, the interest rate and repayment period, the calculator will work out how much your monthly repayments will be. There’s even the option to apply for an agreement in principle.
  4. Create a Willow account. Willow is a digital new homes assistant that supports our homeowners throughout their buying journey and beyond. You can favourite developments and homes, comparing house types to help you make the right decision for you and your family. You’ll also be able to use Willow to explore the vast range of options available to help make your home your own. There’s even the ability to create a digital twin of your new home showcasing the options and upgrades you’ve selected.
  5. If you’re an existing homeowner, you’ll need to have sold that subject to contract before you can reserve a new home. Across all our developments we’re offering to help existing homeowners enjoy an Easy Move. It’s an assisted move scheme, whereby we’ll work with the best estate agents in the area to sell your current home, leaving you free to focus on your new home.
  6. Reserve your new home. All documents relating to the purchase of your Castle Green home will be completed and stored in Willow, meaning you won’t have to worry about keeping them safe.
  7. Instruct a solicitor to manage the legal side of the purchase. This is known as conveyancing. We have a panel of solicitors we can recommend to help you make a smooth move.
  8. Finalise your finances and apply for a mortgage.
  9. Exchange contracts and pay the deposit to your solicitor.
  10.  If you’re buying a new Castle Green home, it’ll be inspected by the warranty provider and Snagsure before the agreed completion date, which is when you’ll become the legal owner. We’ll handover the keys once the completion money has been transferred to us by your solicitor.

How to get a mortgage

  1. Check your credit score. It’s free to check your credit score with Experian, Equifax and TransUnion, the three credit reference agencies in the UK. Factors taken into account include credit cards, loans, mortgages, overdrafts, some utility bills and buy now, pay later credit agreements. If you spot any errors or discrepancies, ask for these to be corrected.
  2. Make sure you’re registered to vote, if you’re eligible to.
  3. Manage your available credit across different cards and accounts. Close accounts you no longer use, ensure your address is correct on your accounts and remove yourself from joint accounts or agreements with former partners or other people you’ve lived with in the past. Don’t apply for credit just before applying for a mortgage and stay out of your overdraft.
  4. Pay all of your bills on time. If you’re renting, some lenders will use your record of paying your rent to help work out what they’ll lend you.
  5. Cutting back on spending before applying for a mortgage can improve your chances, while also increasing the size of your deposit.

 

The documents you’ll need when applying for a mortgage include:

  1. Passport and driving licence
  2. Bank statements and payslips for the last three months
  3. Your most recent P60
  4. Proof of address dated within the last 3 months in the form of bank statements, utility bills or council tax bill
  5. Current mortgage statement, if relevant
  6. Proof of your deposit

Help for homebuyers

We want to make moving to a new home quick and simple for our customers. With Willow, your digital new home assistant, you’ll be able to keep track of the progress of your new home, customise it using options and upgrades and store documents relating to the purchase of your new home. We’re also here to help with any questions you may have.

If you’re buying a new home in Wales, priced under £300,000 you may be able to use Help to Buy – Wales.

Find out where we’re building.

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