Looking to buy?
If you are looking to buy a property in the borough of Dartford, these pages will give you some information on the various options available via the council and other useful contact information.
The council works in partnership with a number of Housing Associations to enable people who may have difficulty in acquiring a mortgage, based on their income, to purchase housing that is affordable.
The Housing Associations have a number of different schemes which, depending on your circumstances, fall roughly into the following categories:
- HomeBuy (previously Shared Ownership) - a part-buy part-rent scheme giving you the opportunity to buy part of a home and pay a subsidised rent on the remainder. Certain criteria must be fulfilled for you to be eligible but if you are on a low income and cannot afford a mortgage outright this may be a good option.
- Key Worker Scheme - a scheme which gives workers in Education, Health, and Safety, Public Sector Workers and some Private Sector Workers the ability to access low-cost housing.
If you do not fit the criteria for any of the previous categories and are able to raise a full mortgage yourself then your first step should be to visit the local banks and building societies of Dartford.
Try www.yell.com for listings of local establishments who will assess your finances and give you an indication of how much you will be able to borrow. Most prospective buyers will at this stage have at least a minimum deposit of 5% to put towards the house purchase.
Once you have this information you are ready for the fun part of viewing available properties.
To be kept abreast of all available properties, it would be prudent to register with all estate agents based in Dartford. They are all very keen to make a sale and will keep you informed of properties matching your requirements as they arise.
- Their details can be found on the website of The National Association of Estate Agents.
- Check the local newspapers property section and websites like www.rightmove.co.uk which have most estate agents properties available to view online
Once you have found a property that you wish to purchase, you will need to instruct a solicitor to proceed with a sale. The solicitor will instruct local land searches, check planning applications, environmental reports and issues with deeds relevant to the property.
Local solicitors can be found on www.yell.com or as recommended by your estate agent.
The mortgage lender will also instruct a surveyor to carry out an inspection of the property to ensure that the money that is being lent is going towards a good investment.
The surveyors report (depending on the depth) will highlight any areas of concern and make suggestions for improvement. Some suggestions the mortgage lender may insist are carried out before purchase as they may affect the value of the property.
The cost of these improvements are normally negotiated between the seller and the buyer to achieve a satisfactory arrangement.
Unfortunately, not all house purchases proceed as hoped and there are many reasons why a potential purchase may fail. You may be refused a mortgage due to insufficient borrowing capacity, the survey carried out on the house may reveal unsatisfactory defects, a buyer/seller may 'pull out' of the sale....the list is endless.
It pays to be aware of the pitfalls concerning house purchase to avoid potential disappointment further down the line.
Between your lender and your solicitor, the sale will then progress to 'exchange' where all the contracts concerning the sale/s are passed to all parties involved, checked for accuracy and signed for acceptance.
Normally around a week separates the 'exchange' from the 'completion', where you pack up your belongings, pick up your keys and move into your new house!
