Independent mortgage brokers | Mortgage advice

1. Decide you want to take the leap from renting, or living with parents or friends, to actually owning your own property.

2. Speak to 1st Call 4 Mortgages on 08458 386938 to find out what you can borrow and understand the mortgages available. Agree a mortgage 'in principle' so that you are guaranteed the funds to buy the property you want.

3. Register with estate agents in the area where you want to buy. Search the internet using property searches.

4. Visit as many properties as possible - obtain the answers to all your questions when you are visiting the properties. (Take a check-list with you).

5. Once you have found a property you want to buy, you need to make an 'Offer', via the Estate agent.

6. Your 'Offer' is accepted.

7. Find and instruct a solicitor. (Estate agents like to know you are a serious buyer, and exchanging solicitor details gives them this comfort)

8. Go back to 1st Call 4 Mortgages on 08458 386938, and finalise the mortgage scheme and protection plans needed. Complete the applications to the mortgage lender and insurance companies.

9. Once your mortgage has been instructed, the mortgage lender will normally send a Valuer to survey the property to check it is worth what you are paying, and is suitable for mortgage purposes. You should consider getting a survey to ensure that the property is structurally sound (either a 'Homebuyers Report', or for older properties, a 'Full Structural Survey').

10. You should also arrange for the Utilities (gas and electricity) in the property to be checked out because if any work needs to be done, this can be negotiated from the buying price of the property.

11. If the survey shows any problems e.g. timber rot or dampness, you will need to get a quotation for the cost of repairing this. The cost should be negotiated off the price of the property. The estate agent should help you with any negotiation.

12. Your solicitor will carry out searches and various other legal checks to ensure that everything is in order, The length of the 'chain', if any, will determine how smooth the process will be.

13. Once the legal work is in place , it is time to 'Exchange Contracts'. You also pay your deposit (if any) over to your solicitor now.

14. On the 'Exchange date', the purchase is now legally binding and that you can't change your mind, but nor can the seller! You also set a 'Completion date' - the day the property becomes yours!

15. Make sure that your applications for Life Assurance and Critical Illness Cover is ready to be 'issued' on the day of 'Exchange of Contracts, as this is the day you are legally liable to continue with the purchase, living or not ! Also, make sure you have the Household Insurances (Building and Contents) ready to be 'issued' on 'Completion date'.

16. Arrange a removal firm, or convince your friends, to help you move all of your personal possessions into the new property.

17. On the date of Legal Completion, your solicitor will arrange for the transfer of money from your mortgage company to the vendor's solicitor. On this day you will also pay the Stamp Duty Land Tax and the solicitor's bill for all of legal work they have carried out on your behalf.

18. Find out who has the keys of your new property. They are usually at the sellers Estate agents or the Solicitors.

20. Now you are a home owner, you should also consider writing a legal Will. After all, you now have a rather large asset (even if it is mostly mortgaged!).