Buying Guide

A guide to buying with Roy Brooks Ltd

Step 1 - Arrange your mortgage

You need to know your budget before you start your property hunt. The very first step is to speak to a mortgage advisor who can tell you what you can borrow and which lenders are offering the best deals.

In London’s competitive market, we’d advise you to arm yourself with a document called a Mortgage in Principle before you start your search. The MIP document is given to you once you have chosen a mortgage product and the lender has done a soft check on your finances and credit history. You’ll be asked for all of your mortgage details and your mortgage broker’s contact details when you offer on a property.

An independent mortgage advisor can access the whole mortgage market, meaning you’ll get the best rates available. We can help if you’re stuck for independent mortgage advice and can recommend a broker who is so good, many of our clients use him.

Step 2 - Register your interest

It’s easy to register with us. You can call us on 020 8299 3021 or 020 3206 3063, walk into either of our offices, or do it online. Once you’re registered we can contact you as soon as properties matching your needs come to the market.

Tell us what you’re looking for, what kind of buyer you are (first timer, under offer, something to sell or lucky enough to be buying with cash) and we’ll be able to talk to you about our current properties and about properties coming on soon.

Step 3 - Searching for a property

We send you email alerts as soon as a new property becomes available. Tell us as much as you can about your search and we’ll contact you by phone or email when you absolutely need to see something.

Step 4 - Viewing with us

Our offices (link to contact us page) are open on Saturdays and until late during the week to accommodate viewing around people’s busy schedules. You can meets us at a property or we can drive you there. Bring your friends, your family, a builder or an architect if you like. We will accompany you and answer any questions you have about the property or the area.

Step 5 - Which solicitor?

Start looking for a good conveyancing solicitor, you’ll need one ready to begin conveyancing once you have an offer accepted on a property. Over the years we have got to know several excellent local conveyancing solicitors, just get in touch if you’d like some guidance.

Step 6 - All about offers

Once you make an offer on a property, we write to you and the seller to outline the offer you’ve made. Once your offer is accepted, we will ask for your mortgage broker and solicitor’s contact details. We then draw up a Memorandum of Sale to be sent to all parties involved. This document contains the contact details of everyone involved in the sale to enable communication. James Edmonds is the sales progressor at Roy Brooks and your main point of contact here.

Step 7 - Conveyancing

Your solicitor will perform local searches to make sure no potential problems are associated with the property and check though leases (where necessary) and the draft contract sent over from the seller’s solicitor. Everyone now agrees an exchange date. James will be in contact with all parties throughout the sale and give you regular updates. You can call or email James for advice or queries at any time during the sale.

Step 8 - Survey and mortgage offer

If you’re getting a mortgage to buy the property, your lender will send a surveyor to make sure it’s structurally sound and being sold at market value,. Once the survey report is back and the lender is satisfied, you’ll get a formal mortgage offer.

Step 9 - Exchange of contracts

This is a contract that legally ties you to buy the property or lose a deposit—usually 10% of the property’s value. The deposit is transferred from your solicitor’s bank account to the seller’s solicitor’s bank account and held until the sale completes. The exchange contract is signed by you and the seller and includes a mutually agreed completion date.

Step 10 - Completion

The date you complete is move-in day. The rest of the purchasing money—usually 90% of the agreed sale price, is transferred from your solicitor’s account to the seller’s solicitor’s account. Once our office has had confirmation the money has cleared, we will ask you to come and collect your keys. Congratulations, you have bought a new home!