First Time Buyer Mortgages in Harrogate
During the time that you’re looking at properties, you may see a certain one which catches your eye and will make you want to put forward an offer. Putting an offer is a factor in the mortgage process which is just as important as any other step in the mortgage process and needs to be approached carefully.
Whilst you’re looking at properties and wanting to make an offer, you need to remember that other applicants will be searching the market at the same time which makes it so as you need to put yourself ahead of the game. You should make it so as you give yourself the best chances of getting your offer accepted.
If you do have your eye on a property and you have everything organised – you’ll never beat a cash buyer even if their offer is slightly less than the one you proposed as they there will be fewer complications involved with their process. But luckily, there are not many apparent cash buyers in contemporary settings.
The best thing that will help increase your chances is to prove you’re able to be organised the first step is to send your Mortgage Agreement in Principle to your Estate Agent. If other applicants haven’t already sent theirs off then it will make it so as you are further along in the process. If your case is straightforward we may be able to offer ‘same day service’ for this documentation.
Mortgage Advice in Harrogate
As is always the case, buying a house is a negotiation process. If the first offer in which you make is accepted then chances are you offered too much. More often than not, your first offer will normally be rejected. But there is no need to worry because after this you will be asked as to whether you want to increase your initial offer. This means you are able to offer less in the first instance – so don’t be afraid to.
If your second offer goes on to be rejected, then sometimes it just means you may be left with the sole option of being willing to pay the original asking price which happens mostly if the property is relatively new to the market. In some cases, you have to walk away and find somewhere else.
Some property websites such as Zoopla and Rightmove let you see the sold prices to inform you or whether the asking price looks similar to the ones around it. The data shown on these kinds of websites is obtained from the land registry so you can rest assured it is valid. However, some houses do sell lower than others which are surrounding them but there will be reasons for this.
Some houses if they are being sold lower than you expected, can sometimes be down to such reasons as being repossessed, sold to a sitting tenant at a discounted price or it was an inter-family sale.
Whether you are a First Time Buyer in Harrogate, Home Mover, a landlord looking for a Buy to Let Mortgage or a Self Employed applicant, we are sure that you will find our mortgage advice service extremely useful. If you’re stuck on how to make an offer, please feel free to get in touch, we are more than happy to try and help.
Date Last Edited: December 27, 2023
