Moving House: Your Guide to a Smooth Move
Are you getting ready to move house? There are a few things to be aware of in terms of practicalities and possible requirements from your mortgage lender before you exchange contracts. I’ve created a simple guide to prepare home movers for all eventualities.
Quick Moving House Checklist
Below is a list of what to consider when moving house:
- Clear out any clutter – if you haven’t moved house before or in a long while, it’s useful to get rid of any unwanted items as this could reduce your removal costs. If you haven’t yet had an offer accepted on your property, decluttering could help to make your house more saleable.
- Check the furniture in your next property – many people find themselves without essential pieces of furniture when they move, for example, moving from a home with a fitted bedroom. In some cases, you might be able to purchase items from the seller. Your solicitor usually adds these details to the Fittings and Contents Form (TA10), which will be included as part of the contract.
- Book a removal company in advance – when you are part of a chain, it can be tricky to fix an exact date for your house move. However, removal companies can book up quickly at certain times of the year. They will usually agree to a tentative date while you’re waiting for an exact moving in date.
- Pack any non-essential items – a house move usually always takes longer than expected, so box up any items you won’t need on a day-to-day basis. This will make moving day less stressful. Apply clear labels listing the contents of each box.
- Make sure you have moved adequate funds into the escrow account – your solicitor will usually ask you to transfer money into an escrow account, which is a temporary holding account for property transactions. It’s important to ensure the necessary deposits are transferred to prevent any delays with your house move.
For more home moving guidance, read our blog, Your Home Movers Checklist.
What Do Mortgage Lenders Check Before Completion?
If you already have a mortgage, you might be able to port your current deal over to a new property. However, if you’re a first-time buyer, getting a mortgage agreement in principle may save you time. By knowing how much you can afford to borrow, you can make a realistic offer on a property.
A mortgage offer from a lender could make the difference between your offer being accepted on a property, as there should be fewer delays. Your lender will check your affordability, income and credit history before making an offer. If you need a mortgage in principle for your next home, then make sure you arrange this as soon as possible
Remember, all mortgage offers are provisional and have expiry dates (usually up to 90 days). Before you exchange contracts, lenders might run affordability and credit checks again, including when porting over a mortgage. They could ask for recent evidence of your income, such as payslips, bank statements and any financial commitments.
Lenders will usually check if the property meets their criteria in terms of construction, type, valuation and location.
Get Trusted Mortgage Advice
Whether you’re a first-time buyer or an existing homeowner, always make sure your mortgage deal is the right one for your situation.
If you want to port over an existing mortgage or you need a mortgage in principle, I’m here to help. I have access to over 90 lenders, and I will ensure you find a suitable deal. I’ll explain your options and guide you through the whole homebuying process.
If you are moving house and need mortgage advice, book a call today.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Sources:
https://www.halifax.co.uk/mortgages/moving-home.html
https://www.moneysavingexpert.com/mortgages/porting-your-mortgage/
https://www.mplaw.co.uk/personal/residential-property/conveyancing-process/
