Why being mortgage ready is essential in the spring market for both buyers and sellers.

- Wed 17 May 2023

With the spring and summer market traditionally the busiest time for buyers and sellers looking to make the most of the longer days and better weather, looking for a new home quickly moves up the list of priorities. Should you be looking to make a move it will be important to get yourself in the best position to act quickly when you find that perfect home and therefore speak to a reputable mortgage service like Bradleys Financial Management.

Before making any plans the first thing to establish is how much you are able to borrow from a mortgage lender, so as to avoid any disappointment later. The initial discussion with a mortgage specialist will mean discussing your current income and outgoings and also take into consideration your credit score, along with any loans or credit you have outstanding which could possibly impact how much you are able to borrow on a mortgage. Once this has been established you will be able to obtain an agreement in principle and then a clear idea as to your options. This will now make you more attractive to a potential seller, knowing that you have an agreement to borrow in place.

Bradleys Mortgage Advisors will be able to provide you with the above whilst also looking at a large number of different mortgage lenders, and therefore a huge range of different mortgage rates, shopping around to identify the most suitable mortgage for your personal situation.

In addition, Bradleys Estate Agents can help by providing a free market appraisal of your home, if you need to sell or let one. At each market appraisal appointment you will be able to get an idea of the demand from buyers for a home like yours along with a realistic idea on the value you can expect to achieve.

What else may you need to consider?

During the spring market it is more likely to be busier, there is likely to be more competition both when selling with more homes being put up for sale, and also more buyers seeking homes, therefore you will need to act quickly.

It is important to be aware of the local property market conditions as that could affect the length of time to find a buyer, whether or not you may have to be flexible on the price you have agreed to ask. This is also likely to be the same when buying your next home, and as such you will want to consider that when receiving and making offers. Where possible, Bradleys Estate Agents will be on hand to help.

Be flexible! With such a busy time, all parties involved with moving home from estate agents, conveyancers to removal firms and mortgage lenders will also be busier so be prepared and where possible a little flexible with moving dates to ensure your buyer and where you are buying are all able to meet an agreeable date.

In summary – be mortgage ready, once prepared you will be able to act more quickly and become more attractive to sellers as well as potential buyers. Make the most of working with Bradleys to ensure your move has the best chance of running smoothly.

Bradleys Financial Management Ltd and Bradleys Estate Agents Ltd are two different entities and the estate agents act as introducers for Bradleys Financial Management.