Hot Cross Buns, Daffodils and hopefully some sunshine

Easter has been and gone in flash and I have eaten so many hot cross buns over Easter Weekend that I am surprised that I can still fit into my office… however, it was worth it! I hope you all had a lovely Easter Bank Holiday!

The daffodils in my garden, those that have not been killed by the frost or my gardening skills, are starting to bloom and I am hopeful that we will see sunnier skies in the coming days…. maybe weeks (its currently raining!).

But for those of you who are looking to fly the nest (I promise spring is on the way) and purchase your first property here are some tips for a successful first-time property transaction:

• Firstly, before you start looking at properties, if you need help financing your purchase with a

Mortgage, speak to a Mortgage Broker or Mortgage Lender about whether you are eligible for a Mortgage and if so how much you can borrow. This will then give you an idea as to your price range.

• Once you have found a suitable lender, obtain an offer in principle. This is confirmation that the

lender will loan to you a particular amount of money and is the evidence you will need to provide to an estate agent when making an offer on a property.

• With regard to your deposit, this is the money that you are going to invest in the property, check that

this money is freely available, and you have a bank statement or statements to hand as proof of funding. If this money is coming from a third party such a gift from your parents or other family members make sure that you inform your lender about this gifted deposit.

• When you start looking try and look at a number of houses- you will soon get the feel for the area you

want to live in and the type of property you want. You will also establish which things you are happy to compromise on and which you will definitely not!

• Once you find “the one” and have had an offer accepted try and arrange the mortgage valuation

or Home Buyers Survey as soon as possible. Remember that a Mortgage Valuation will only be used to consider whether the Property is worth more than the amount to be advanced by the lender, whereas a Home Buyers Report provides for more detail about the property.

If you require any assistance in purchasing your first property, please do not hesitate to contact me. Just call me mother hen!

Emma Williams Solicitor

WWW.THECOCKERMOUTHPOST.CO.UK Free Will and Trust Reviews Available

STEP fully qualified member of staff available to offer specialist advice on trusts and estates

Milburns Solicitors

3-5 Main Street, Cockermouth CA13 9LE 01900 898010 Other local offices:

Workington, Whitehaven and Maryport

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