Preparation
Secure your mortgage in principle
If you require a mortgage, your first step is to obtain a Mortgage in Principle (MIP) — also called an Agreement in Principle (AIP), Decision in Principle (DIP), Mortgage Agreement in Principle, or a Mortgage Promise.
This document confirms, based on an initial assessment, how much a lender may be willing to lend to you. While it’s not a final mortgage offer, it places you in a strong position - particularly for high-demand properties where multiple buyers may be ready to make an offer. Combined with your deposit amount, it also gives you a clear idea of the property price range to focus your search on.
You can arrange an MIP directly with your bank or through a mortgage advisor, who can assess your affordability and compare deals from multiple lenders. We work closely with a trusted local advisor and can provide an introduction if required.
Instruct your solicitor
Choosing a solicitor early will allow you to act quickly when your offer is accepted, avoiding unnecessary delays.
Look for a solicitor who is proactive, communicative, and experienced in residential property transactions. They will manage the legal process, protect your interests, and ensure all paperwork is accurate and complete.
If you’re purchasing an apartment in a building over 11 metres in height, it’s worth checking whether the property falls under the Building Safety Act (BSA). If it does, make sure your solicitor is able to act on BSA-affected properties, as not all firms are insured to do so.
We can recommend reliable solicitors who have consistently delivered excellent service and are well-versed in these requirements.
Budget for additional costs
Beyond your deposit and mortgage, it’s important to factor in other expenses that will form part of your overall budget. These may include Stamp Duty Land Tax (SDLT), solicitors’ fees, survey and valuation charges, and any mortgage arrangement costs.
