The buying process
It is a common misconception that buying a home is always a very stressful and time consuming process. Many sources put the completion of the whole process at 6 months, but of course this can differ greatly from case to case.
However, the one thing that almost everyone agrees on is that some stress during the buying process is inevitable, but at Redrow we do all we can to make sure that is minimised. Our Sales Team can put you in touch with recommended solicitors and New Build Mortgage Specialists to assist you throughout the house buying process, and our Sales Consultants will always be on hand to help should you need it.
Solicitors are an essential part of the home buying process as they oversee the purchase of your new home and take care of all the legal aspects, ensuring everything goes as smoothly as possible. This means that they will sort contracts and fund transfers, advise on legal matters, conduct local council searches and complete the Land Registry. A good solicitor will make sure that you receive regular updates and really relieve you of some of the house buying stress.
If you don’t already have a solicitor, our Sales Consultants can supply you with the details of some local independent firms who work with us regularly. This helps to make your move as straightforward as possible, as our recommended solicitors are familiar with our process.
Mortgages and Insurance
It is now time for you make a formal application for a mortgage, should you need one, based on the price and details of your chosen home. To do this, you’ll need to collect credit reports, documents relating to utility bills, council tax, insurance policies, living costs and outgoings, employment (or self-employment), proof of benefits, proof of identification (usually a passport or driving licence) and up to 6 months worth of bank statements. Finding the ideal mortgage is hugely important.
Our Sales Consultants can put you in touch with a New Build Mortgage Specialist or, alternatively, you can get in contact with them directly as a member of My Redrow.
You should also arrange the insurance of your new home at the same time as your mortgage. Building insurance is essential and all lenders will insist you have it in place from the point where you exchange contracts. As soon as contracts change hands, you’re legally responsible for your new home.
Make your home your ownYou can now add your own personal touches to your new home by choosing from our range of kitchen units, bathroom fittings and more. In addition to our standard features you can also choose from any quality extras you would like to add, depending on the construction stage of your home. By becoming a member of My Redrow you can browse all of the available options and choose how you would like to personalise your home online, without having to visit a Sales Centre.
Exchange of contracts
The next stage in the home buying process is for the respective solicitors to exchange signed contracts and, after doing so, both parties are legally committed to the sale and purchase of the property. Up until this point, both buyer and seller can break off the transaction without serious financial cost.
Before contracts are exchanged, it’s good practice to confirm that searches are complete, mortgage funds and the offer are secured, completion date is set, you’re happy with the details of your contract, and that you understand all relevant details of the offer and contract as explained by your solicitor.
At this time you will also pay the exchange deposit for your new home to Redrow, which is usually 10% of the final purchase price unless otherwise agreed. Once the contracts have been exchanged, we will keep you updated as to when your home will be completed and you should be able to move in.