Thinking of buying your first home in Newcastle? The process might seem daunting, but it’s actually a clear journey. Here’s a step-by-step guide to help you navigate it with confidence.
Step 1: Speak to a Mortgage Broker.
We’ll help you understand exactly what you can afford. We clarify your budget, how much deposit you’ll need, and what the process involves. This gives you confidence before you even start viewing.
Step 2: Get a Decision in Principle (DIP).
This is a pre-approval from a lender. Estate agents in Newcastle will expect this before taking offers seriously.
Step 3: Start Viewing and Making Offers.
- With a DIP in hand, agents see you as a serious buyer.
- You can confidently view homes in your budget.
Step 4: Full Mortgage Application & Valuation.
We’ll gather your documents and submit the application. At this stage, the lender also arranges a valuation of the property.
Step 5: Mortgage Offer Issued.
Once the lender approves everything, you’ll receive your formal mortgage offer. This is a key milestone.
Step 6: Legal Work.
Now solicitors handle searches and contracts, reducing risk before you proceed.
Step 7: Exchange and Completion.
You’ll exchange contracts, agree a completion date, and then move into your new home.
