Want to be in your new home by Christmas? Whilst it might be an unrealistic deadline for most buyers, there are still ways you can speed up the home buying process. Stephen Ward has some tips

As Summer wanes, potential homebuyers dream of celebrating Christmas in a new home.

The idea of moving into a new home for the festive season is appealing. However, the reality of the current property market means this may be a dream which is ambitious for 2024, particularly as we are edging into the beginning of the Autumn.

According to a recent Home Sale Pack survey, the average time it takes to sell a home in the UK is 183 days, or six months. This timeline includes the entire process, from listing the property to completing the sale.   Contact a mortgage broker like PHLS Mortgages now.

Given how long the selling process is, and with December just four months away, it’s highly unlikely that anyone starting the buying process now will be unpacking boxes before Christmas. However, there are steps you can take to make the buying process as smooth as possible.

Prepare your paperwork and hire a conveyancer

A common cause of delays in the home buying process is not having complete paperwork. Before you even open Rightmove, make sure all your paperwork is in order.

This includes having a mortgage agreement in principle, as well as bank statements, utility bills, pay slips, and a valid form of ID like your passport. You don’t want to go through part of the process and then take steps backwards due to a missing document.

Enlisting a conveyancer early is crucial. Conveyancers are legal experts who handle the transfer of property ownership, and having one ready to go can help streamline the process. Make sure to choose a conveyancer who is transparent about their fees and services.

Manage your expectations around moving

Having grounded expectations about the timeline is vital. Even if you do everything right, you can still run into delays as there are factors beyond your control. These can be delays in receiving mortgage approval or issues in the property chain.

The latter is particularly tricky, as your purchase may be dependent on other buyers and sellers completing their transactions.

Choose the right conveyancer

Your choice of conveyancer can have a significant impact on the speed and smoothness of your buying your new home.

You should ensure your conveyancer is regulated either by the Council for Licensed Conveyancers or the Law Society Regulation ensures that you’re protected should anything go wrong during the process.

Additionally, consider how the conveyancer communicates with clients. Do they offer in person meetings, or is their service primarily online? Do they provide regular updates via email or through an app?

Ensuring their communication style aligns with your preferences can prevent misunderstandings and keep the process on track.

Embrace technology

The conveyancing process has evolved significantly in recent years, with digital ID checks becoming increasingly common. These checks, which use biometric and cryptographic technology to verify your identity, have helped speed up the property buying process. If your conveyancer offers digital ID verification, it’s worth taking advantage of this option to avoid unnecessary delays.

However, with the rise of digital tools comes the need for increased vigilance against fraud. Always double-check the bank account details before transferring any money. If in doubt, call your conveyancer to confirm the details.

Stay informed – ask questions and communicate

Finally, the most common cause of frustration in the home-buying process is a lack of communication. Make sure you understand each step of the process and don’t hesitate to ask your conveyancer for clarification if anything is unclear. Similarly, if you’re going to be unavailable at any point, inform your conveyancer in advance so they can plan accordingly.

While it may not be possible to move into your new home before Christmas this year, following these steps can help ensure that your sale is as smooth as possible. By being prepared, managing expectations, choosing the right professionals and embracing digital tools, you can get into your new home as fast as possible, even if it’s after Christmas.

 

Source: Move home by Christmas: Tips to speed up your property purchase – What Mortgage