FIRST TIME buyer Guide

THE ULTIMATE GUIDE TO BUYING YOUR FIRST HOME! Hello there

CONTACT US Are you thinking about venturing onto the property ladder? Well you’re in the right place! Buying your Phone : first home is a very exciting, yet daunting experience, 0113 393 3298 with lots of legal regulations to get your head around, sometimes it’s hard to know where to start! Website : manningstainton.co.uk To give you a helping hand, we’ve put together an ‘Everything you need to know’ guide, to help you navigate the fine print and get you, your keys for your BRANCH very own home! This guide will cover costs, mortgages, LOCATIONS property searches, making an offer and of course that all important moving day! Adel, Beeston, Crossgates, Garforth, , , With 19 branches across , and , Moortown, we have over 25 years of experience helping people Morley, Oakwood, , move, so if you have any other questions or need some Rothwell, Wakefield, guidance in your search, contact our team today! Wetherby, Wortley

- First Time Buyer Guide -

1. Contents Everything You Need To Know About Buying Your First Home

PAGES However far along you are in your property search, 1. 3. The Costs of Buying find everything you need to know about what to expect 2. 4. Getting a Mortgage throughout the process in 3. 5. Your Property Search our ultimate guide. 4. 6. Viewings We’ve cut through the 5. 7. Making An Offer jargon to provide a brief 6. 8. The Next Steps overview of the journey you 7. 9. Moving Day can expect. If you would like anymore information 8. 10. Printable Checklists on any part of the moving 9. 11. Make Notes process, contact your local 10. 12. Contact Us branch today!

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2. COSTS OF BUYING

Before you start your property search, its important to consider all the costs of moving. Unfortunately there is more than just the cost of the house to think about. Going through your finances early will prevent you getting caught short later down the line!

COSTS TO CONSIDER

Upfront Costs Legal Fees

Your deposit will most likely be your biggest As we mentioned buying a property comes with upfront cost when buying a home. The amount of a lot of legal obligations. You will need a solicitor deposit you will need depends on the mortgage or licensed conveyancer to carry out the legal lender. The usual minimum deposit for first time work for you, to help your move run smoothly, buyers starts at 10% of the cost of the property. which will come at a cost.

Stamp Duty Mortgage Fees

For First Time Buyers Stamp Duty Land Tax is paid When taking out a mortgage you will incur some on any property purchase over £300,000 outside charges that may include arrangement fees, of the Stamp Duty Holiday. Stamp Duty is to be booking fee, admin fees and mortgage broker paid within 30 days of the completion of the sale. fees. Fees are individual to the mortgage lender Your solicitor, estate agent or conveyancer will and need to be discussed prior to committing. usually file this for you. On Going Costs Surveyor’s Fee Don’t forget about the costs when you eventually Once you’ve has an offer accepted a survey will get into your property. You will need to think of need to be carried out to confirm the value of the insurance, council tax and utility bills along with property and check it’s in good condition before furnishing and preparing for any unexpected you commit to the purchase. These fees will vary. repairs that may occur. #Don’t forget 3. removal fees Getting a Mortgage Step One When buying a home, most people will apply for a mortgage to help cover the cost of the home. The mortgage is paid back in monthly installments over a period of time. The first step is to seek professional advice from the experts. Arrange an appointment with your local mortgage adviser, who will discuss all your options.

Step Two After discussing your finances, your mortgage adviser will establish just how much you can borrow, as well as taking you through a maze of the difference type of products to find what would be most suited to your circumstances.

Step Three Once you’ve found the mortgage product to suit you, this will be agreed as a ‘Mortgage in Principle’ telling you how much money the lender is likely to offer. Now is the time to start looking for properties, as you can evidence to estate agents that you are financially qualified and in a position to take advantage of the fast paced market. #TIP Step Four The final mortgage step comes after you’ve HOW DO I FIND THE BEST found your dream home. Once you’ve had an MORTGAGE? offer accepted on a property, you now make a formal application. This will encompass a Mortgage Advisers often survey on the property to ensure the purchase have access to exclusive price is worth its value. The lender will then deals, speak to them direct issue a formal mortgage offer. Now, sit back to discuss all your options! until your conveyancer has completed the searches and ironed out any issues with the purchase contracts before you get ready for 4. the big move. Your Property Search Now comes the fun part

Here is the part you’ve been waiting for; the property search! You’ve most likely been browsing for a while now, but now it can finally get serious. It’s important to arm yourself with a plan! #Printable Checklist on Where (to look) P10

It’s important to know where you are looking. Checklist (for your search)

Browsing the property portals such as Rightmove Make a checklist for things you are looking for! and Zoopla is a great place to start, but don’t forget Local Estate Agents often list properties on Location

their own websites before the portals so make House Style sure you head to their websites! No of Bedrooms

No of Bathrooms What (to look for) Garage It’s impossible to know exactly what you’re Outside Space looking for, but make sure you have some Age of Property idea. Have a clear vision in your mind of what

you want, this includes bedrooms, bathrooms, South Facing garden garden and of course a price range! Potential to extend

Price How (to find it) Local Amenities

Registering with your local estate agent is a Neighbourhood must! They have inside information on properties Local Schools coming to the market and if they think the property would be perfect for you they will let you Double Glazing

know even before they go live online - putting Parking you in a great position for making an offer! Council Tax Band

5. #Printable Viewings ChecklistP10 on Things to consider on your viewings

When it comes to arranging viewings, make sure you have a good look at the listing online first. Check out the floor plan and make sure it’s actually something you could see yourself living in. Another golden rule, never view anything outside your price range, falling in love with a property you can’t afford can be heartbreaking! It’s always helpful to take someone with you on a viewing for a second opinion.

Viewing Checklist (Things to check whilst on a viewing)

What is the general area like?

Does it need work? If so can you afford it?

Is the flooring in good condition?

Is there any damp or cracks?

Is there much storage?

Are the windows double glazed?

Is there a bath or shower?

Where is the boiler & how old is it?

Do the taps work?

Is the house overlooked?

If it has a garden, is it southfacing?

Is there scope to extend?

What broadband is currently installed?

Is there a loft?

If it’s a flat what is the leasehold & is there a management fee?

Are there any nearby transport links?

6. Making An Offer

Making an Offer Making the Offer When making an offer its important to put When it comes to making an offer, you yourself in the best position possible. You need to make some careful considerations will need to provide proof of your mortgage before doing so. offer this is where your ‘Mortgage in Principle’ comes in. Things to Consider Does the property match all your After an Offer is Accepted requirements, or are you willing to compromise? Another thing to consider is If you’re successful in your offer, the estate if the property needs alot of work, can you agent will list the property as sold subject to afford this work or are you happy to live in contact. At this point you’ll need to formally its current condition until you can? apply for your mortgage and appoint a conveyancing solicitor to progress Don’t be Disheartened your sale. Although this sounds like the complicated part, your estate agent will Don’t be disheartened if your first offer gets often be able to give you advice on who to rejected. Sometimes negotiating an offer go to for this. can be a lengthy process, especially if there are multiple people interested. If you are unsuccessful, remember the right property is out there and you’ll be thankful when you #You’re find ‘the one’! Almost 7. there The Next Steps

Once your offer has been accepted this is where the legalities really come into play. There is alot of paper work and a fair few steps to go through - but it will all be worth it when you get those keys! It’s im- portant to bare in mind the average prop- erty sale takes around 16-18 weeks but can differ dependent on circumstance!

1. Appoint A Conveyancing 4. Exchange of Contracts Solicitor and Pay Deposit

It is your Conveyancing Soliticor that will Once the surveys and searches are complete complete all the legal aspects of your sale. Your and your mortgage has been accepted, you will solictor will take care of a number of essential now be able to sign & exchange contracts. This searches for you. Most estate agents will is also the point where you will need to pay the recommend a solicitor to take care of your sale. deposit of the property. When the contracts are signed and the deposit is paid, you are legally committed to the purchase of the property and 2. Complete Your Mortgage cannot pull out without losing your deposit. Application

Once you’ve had your offer accepted you will 5. Confirm Date of need to apply for a formal mortgage. Once Completion you’ve had this finalised, your mortgage lender will give you 7 days to decide if you want to Now the contracts have been exchanged, you accept the mortgage offer. can now agree on completion date. This is the day the seller will need to vacate the property and it becomes yours. This is a good time to 3. Organise Surveys organise a removals company if you require one.

Once you’ve agreed to the mortgage offer, the mortgage lender will arrange for a valuation of 6.Completion & Picking up the property to take place to check the property is worth the amount they are lending you. You will the Keys also need to organise for independent Chartered On completion day, the mortgage lender will surveyor to carry out an indepth, impartial release the funds and the ownership of the account of the condition of the property. If any property is transferred. The house is now legally problems occur in either survey this is where yours and you can pick up the keys from your renegotiation of price may need to take place. estate agent!

8. Note: If you are required to pay Stamp Duty this is to be paid within 30 days from completion. Moving Day The Big Day is here!

The day you’ve been waiting for has finally arrived. So you’ve picked up your keys and the property is yours! Now it’s time to make it your own. Moving day can be a stressful day but it doesn’t have to be if you’re prepared!

We’ve put together some simple tips to help your moving day run without a glitch!

Call in the professionals

In the current climate, having a lot of family and friends helping you move isn’t possible. So call in the professionals for a helping hand. They will be able to help with all the heavy lifting and transportation, leaving you to focus on the unpacking!

Label, Label, Label

However tempting it may be to throw things in and deal with it later, labelling your boxes will make your life so much easier in the long run!

Keep the essentials out

Fighting your way through boxes all for a cup of tea will be a nightmare. Keep some essentials and eg. Cups, kettle and teabags you will probably need a refuel during the day!

Keep Tools to Hand

Have you been holding onto screws, nails and bolts for years? Now is the time they might come #Remember in handy, keep a few tools out for any essential to redirect work that might need attending to on moving your mail 9. day! #PRINT Checklists ME Print these checklists to help you narrow your search down

Checklist (for your search)

Make a checklist for things you are looking for!

Location Garage Potential to extend

House Style Outside Space Price

No of Bedrooms Age of Property Local Amenities

No of Bathrooms South Facing garden Neighbourhood

Local Schools Double Glazing Parking

Viewing Checklist Property Notes (Things to (Things to check whilst on a remember) viewing) Property address ...... What is the general area like? ...... Does it need work? If so can you afford it (All the things you love) Is the flooring in good condition? Pros

Is there any damp or cracks?

Is there much storage?

Are the windows double glazed?

Is there a bath or shower?

Where is the boiler & how old is it?

If it has a garden, is it south facing?

How is the house overlooked? Cons (If Any?)

What is the state of the drains etc?

Is there scope to extend?

What broadband is currently installed?

Is there a loft?

If it’s a flat what is the leasehold & is there a management fee? Are there any nearby transport links? 10. Make Notes Write down measurements, general notes or things you don’t want to forget

11. #Any Questions? Contact Us Need anymore help? Don’t hesitate to contact one of our teams today

ADEL MORLEY 487 Road, 42 Queen Street, Leeds LS16 7NR Leeds LS27 9BR Sales: 0113 230 1777 Sales: 0113 252 4222 Lettings: 0113 236 9888 Lettings: 0113 220 3465

BEESTON OAKWOOD 293 Beeston Road, 659 Road, Leeds LS11 7HX Leeds LS8 4BA Sales: 0113 270 7700 Sales: 0113 235 1361 Lettings: 0113 220 3465 Lettings: 0113 236 9888

CROSSGATES PUDSEY 62 Road, Mozart House, Lidget Hill, Leeds LS15 8DX Leeds LS28 7DT Sales: 0113 260 6644 Sales: 0113 256 5434

Lettings: 0113 236 9888 Lettings: 0113 236 9888

GARFORTH ROTHWELL 34 Main Street, 30 Marsh Street, Leeds LS25 1AA Leeds LS26 0BB Sales: 0113 287 8790 Sales: 0113 282 4353 Lettings: 0113 236 9888 Lettings: 0113 220 3465

GUISELEY WAKEFIELD 2 The Green, Leeds Road, 62-64 Northgate, Leeds LS20 9BT Wakefield WF1 3AP Sales: 01943 871 777 Sales: 01924 234 888 Lettings: 0113 236 9888 Lettings: 0113 220 3465

HEADINGLEY WETHERBY 20 Otley Road, 43 Market Place, Leeds LS6 2AD Wetherby LS22 6LN Sales: 0113 274 8646 Sales: 01937 583 535 Lettings: 0113 236 9888 Lettings: 0113 236 9888

HORSFORTH WORTLEY 113 New Road Side, 134/136 Lower Wortley Road, Leeds LS18 4QD Leeds LS12 4PQ Sales: 0113 281 9181 Sales: 0113 279 7955 Lettings: 0113 236 9888 Lettings: 0113 220 3465

MOORTOWN NEW HOMES 2 Shadwell Lane, Tel: 0113 203 4174 Leeds LS17 6DR

Sales: 0113 237 0211 Conveyancing Lettings: 0113 236 9888 Tel: 0113 209 3699

12. *Your home may be repossessed if you do not keep up repayments on your mortgage. The fee is up to 1.5%, but a typical fee is 0.3% of the amount borrowed. #Good luck in your new home!