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Buying Process - Stage 4 - Once the offer has been accepted

Once the offer has been accepted, it is worth asking the seller to take the property off the market to hopefully avoid other potential buyers from making offers. The estate agent will usually ask for details of your solicitor and mortgage offer in principle in order to action this.

It is now time to get all the legal work and necessary surveys completed. Unless you are a cash buyer, you will need to complete the lenders application form and forward on any documentation required such as:

  • Proof of address (for the length of time specified by the lender);
  • Proof of identification;
  • Your P60 and Proof of earnings (for the length of time specified by the lender);
  • Bank statements (for the length of time specified by the lender);
  • Utility bills (for the length of time specified by the lender).

A mortgage valuation will be carried out on the property. To have a more detailed survey carried out, take a look at the different property surveys available. Once the valuer has completed the survey and sent the reports to the lenders, provided they are satisfied with the price agreed, you should receive your formal mortgage offer along with the square footage of the property and the re-instalment costs that you will need for your building insurance.

Your solicitors will be busy progressing the draft contract of the house purchase and running searches on the property. You will also need to start looking for buildings insurance, as once the property has exchanged, you are then liable for the property.

Are you in need of mortgage advice?  Get in touch with a Just Mortgages advisor to talk through your options.


Next steps: Property lawyers

Take a look at our quick guide to Property lawyers

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Howards introduce to Just Mortgages Direct Limited which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. Just Mortgages Direct Limited Registered Office: Colwyn House, Sheepen Place, Colchester, Essex, CO3 3LD. Registered in England No. 2412345

Buying Process