Moving House? Here’s What You Need to Know

Moving house is a huge undertaking, and it can be daunting. But by being well-prepared, you can make the process as stress-free as possible. In this blog post, we’ll go over some of the most commonly asked questions about moving house and provide tips on how to make the process easier. From porting your mortgage to understanding the timeline for buying and selling a property, read on to learn all you need to know about moving house!

Porting Your Mortgage

This allows you to transfer your existing loan amount and rate to a new lender or property without having to start from scratch with a new loan agreement. However, there are certain conditions that must be met in order for your existing loan agreement to be ported successfully. It’s important to speak with your current lender if you are considering porting your mortgage so they can review any restrictions that may apply.

Timeline for Buying and Selling

When it comes to buying and selling a property, timing is everything. The average timeline for buying and selling a home is around 8-12 weeks from start to finish but this can vary depending on the situation. You will need time for conveyancing, searching for mortgages, arranging viewings, finding buyers/sellers, agreeing contracts and more! To ensure that everything runs smoothly when it comes time to move out of one property into another, it’s important that you plan ahead and understand how long each step in the process typically takes so you don’t get caught off guard.

Tips for Buying and Selling

Buying or selling a home should not be taken lightly – it’s an expensive and complex process which requires careful consideration at every step of the way. Here are some tips to help make sure everything goes as smoothly as possible when buying or selling your home

Get a Decision in Principle

Before looking at properties or putting yours up for sale, it’s important that you have been pre-approved by your bank or financial institution so you know exactly what kind of budget you have available. This will save time down the line when making offers/acceptances on homes knowing exactly what kind of terms are achievable with your current financial situation.

Hire Professionals

Hiring professionals such as real estate agents or conveyancers can help take away some of the stress associated with buying or selling a home – they will handle all paperwork involved in setting up contracts/agreements etc., leaving you free from worrying about missing something important in the process.

Do Your Research

Make sure you research both local market trends (to get an idea of what prices homes are going for in the area) as well as legal requirements (such as land taxes etc.). Knowing these details beforehand will help give peace of mind throughout the entire process!

Use Online Resources

There are plenty of great online resources available now that can help streamline many steps associated with buying/selling – use them! Sites like Rightmove offer helpful advice on getting ready to sell/buy as well as assistance connecting with local agents etc., making it much easier than ever before!

Conclusions

Moving house is an exciting but stressful experience; however, by understanding some key factors such as porting mortgages, timelines for buying & selling properties, and tips & tricks along the way-the entire process becomes much simpler! 

 

We hope this has given you an insight into what needs consideration when moving house & armed with this knowledge; whether its first-time buyers or those upsizing their family home -moving house doesn’t need to be overwhelming! Good luck & happy moving house!