- Wed 06 Jul 2022
Whether you are selling your home because you need to, or simply wish to, the selling process can often be a little daunting, particularly if you have not done it before. The good news is that we are here to make this as easy and hassle free as possible, to minimise the stress levels and provide you with a thorough service from day one through to handing over your keys on completion.
When you have decided that now could be the right time to sell your home and you are ready for the next part of your home moving journey, the first thing you need to think about is; If I sell now, are there any costs that I need to consider? You should contact your current mortgage lender and explain what you are looking to do to check any costs that may be incurred by selling. If so, at what point in the future do they reduce or perhaps are not incurred at all?
It should be noted, if you are looking to buy another home, this may alter the position further so explain the whole position to your mortgage lender.
The value of your home compared to the amount of mortgage you have outstanding will provide you with the amount of equity you have. This can then form your deposit on the next property if required. You can check your latest statement, or if you have an app then these will usually be more up to date. Once you have this figure you can start to plan what your options are and then make an appointment with a ‘whole of market’ mortgage adviser who will be able to run through this with you in depth and also look at the most competitive mortgage products rather than just the one your current mortgage lender offers.
You should also look to arrange a market appraisal from local estate agents so that they can inform you how much you are likely to achieve depending on the demand for homes similar to yours at the current time. This can vary, particularly when the economy is changing so keep in regular contact to ensure your figures are accurate.
At Bradleys Estate Agents we have a team of Mortgage Specialists who are able to help investigate all your options when it comes to establishing your mortgage affordability, take into consideration when may be a good or better time to move depending on your current position and explain how they are able to search the mortgage market for the right mortgage for your situation. To get in touch with our Mortgage team today and take the first steps towards your exciting home moving journey, please click here.