Make an Offer on a House

So you've found your dream home, looked it over carefully, and are now ready to make your offer. Here are the steps you'll need to take.

Step.

1. Consult a lender or mortgage broker to find out how much you can afford to spend on a house, or use a calculator on a financial website .

2. The amount you can borrow will vary from lender to lender, and will depend on whether you are taking out a mortgage on you own or a joint-mortgage with a partner (or co-buyer). A typical figure for the UK is three times to four times ones income, or two to three times a joint income.

3. Know how much you have for a deposit, This will usually be at least 10 per cent (in some cases first-time buyers may be able to secure a 100 per cent mortgage).

4. Decide what type of financing you require.

5. Know how much money you have for a down payment, normally 5 to 20 per cent of the purchase price is required, depending on the loan terms.

6. Make an offer to the vendor (or vendor's estate agent).

7. When approved, contact your solicitor to deal with contractual issues.

8. Now is the time to make a formal application for a mortgage.

Warning,

Consult a solicitor before you sign anything, What you agree to could severely limit the remedies available to you by law !!!!!!!!!!