Christmas is coming! Get your mortgage now!

Limetree Financial Services Limited

Christmas is coming! Get your mortgage now!

Yep, we’ve said it. Christmas will be here before you know it and just as now is the time to start planning your presents, it’s also the time to get cracking if you really want to be eating turkey in your new abode.

December 25th represents a significant deadline for some people. Spending the festive season in a new home is a driving factor for many people who are moving at this time of year, and we typically see the numbers of properties being sold rising at this time of year.

So, if you’re dreaming of putting up your tree in your next home, is there anything you do to get moving now? If you’re prepared to fully focus on paperwork, be sensible about your pricing and get super organised your dream could become a reality, though it will depend on the market demand in your area.

Here’s some tips on speeding up your buying process, so you can toast the festive season in your brand new home.

Get your mortgage agreed first

Once you find a house you want to buy and put in an offer, the estate agent or developer will want to see evidence as quickly as possible that you’ve got the necessary finance, especially if you want to move quickly. So getting your mortgage agreed in principle before you start looking is a good idea. It takes around three weeks to have this agreed, so the sooner you start, the better. The good news is that lenders are offering some highly competitive deals at the moment for people who want to move in the next couple of months.

If you’re selling, get your documents in order as soon as possible

Your solicitor will need to produce a sales pack to be sent to your buyer’s solicitor in order for them to start the purchase process. This pack can take up to a month to finalize. So it’s better if you instruct your solicitor to start this as soon as your house goes on the market, instead of finding a buyer and then having to wait for it to be done.

Consider a part exchange with a developer

When selling there’s always a risk that the person buying your home will need to sell theirs, which means that you’ll be in a chain. Industry statistics suggest that one in three chains fall through at some point during the transaction and there’s certainly an increased risk of delays. If you want to move quickly consider buying a new build from a developer, who will in turn buy your home, then you won’t be part of a chain. This may mean you have to accept a slightly lower price for your property, but for some people this is worth it to be able to move quickly.

Price realistically

If you want to sell through an estate agent, then another factor in achieving a quick sale is to set a realistic price. Properties that sit on the market for a while tend to be overpriced. So, if you want to be in that dream home for Christmas, the best way to secure a motivated buyer is to ensure that you don’t put your home on the market at a price that isn’t realistic. Tell your agent how keen you are to complete and move in before Christmas and they will be able to advise you accordingly.

Get organised

Book your removal company or van hire as soon as you exchange. Get sorting and packing as soon as possible to make sure that you’re ready to go as soon as you exchange and set the quickest completion date possible. Make sure your Christmas decorations box is the last one to go in the van so you can find it easily when you reach your destination!

So, the clock is ticking. You’ve got 68 days until Christmas. Good luck!

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