Buying Guide
WELCOME TO EAST LONDON!
Estates East takes you to the heart of this market providing you with the tools and insight to achieve your goals. Registering as a buyer with Estates East could get you through the door of your dream properties—first. Read on for details.
Here are useful tips for first-time buyers, and if you’re a seasoned buyer, take a fresh look. The Estates East Team is here to support you.
FREQUENTLY ASKED QUESTIONS
What’s the best way to manage a move, if we’re currently renting?
- Check if you're within your original rental agreement, or if are you 'holding over' at the end of a fixed rental term.
- Give advance notice of your exchange, as delays cause problems. As a guide: it takes between one and two months to complete, and the time from exchange to completion is two weeks.
- Tip: Do you have a good relationship with your landlord? Try negotiating a shorter notice period, and offering new tenants, perhaps? We can help you with this.
- From minor problems such as misting in double-glazed windows to structural movement, timber rot and Japanese knotweed.
- The survey is an on-site inspection carried out by a surveyor, who records any defects with the building and surrounding land before you decide to buy it.
- Tip: The survey is a cost, but worth every penny. If you don't get a survey done, you might regret it when faced with a costly repair.
What are we ‘searching’ for exactly?
- Searches are legal enquiries obtained by your Solicitor on behalf of various local government and utility companies. Eg, planning applications on the land or flood risks.
- Tip: Local Authority Searches can take weeks, so apply to your Solicitor for this ASAP, and ideally at the point of instruction, to prevent delays down the line.
- It's a line of buyers and sellers linked together because each is selling and buying a property from one of the others, apart from the people at the ends.
- The 'links' are the people in between who need to both sell and buy a property.
- Eg estate agents, legal firms, surveyors and mortgage lenders— there could be dozens of people involved.
- Estates East has a Sales Progression Agent who focuses on finding and unblocking slow links in the chain.
- Tip: Don't be the slow link! Act immediately, check you've signed everything correctly and keep alert to your messages so nothing is missed and the chain is kept moving.
- It's a loan secured against a property, most people have one.
- You borrow money to buy the property, then you repay your mortgage over an agreed time depending on your needs and circumstances.
- Your home may be repossessed if you do not keep up repayments on your mortgage, (as stated in every single mortgage ad).
- The right mortgage for you depends on:
- The amount you need to borrow
- The size of your deposit
- The amount you can afford in monthly repayments
- Tip: Speak to Paul Meredith from The Mortgage Company, he's an independent Mortgage Adviser and works extremely hard in the client's interests. Most independents won't charge upfront for their services. Instead may take a fee from either you or the lender—if you take a mortgage with them.
- This lump sum of money you put down against your mortgage is typically 5-10% of the agreed sale price. You transfer the deposit just before you move when your solicitor sends you the contract to sign.
- Some accounts need notice, and internet banking may have a £10,000 daily limit.
- Monthly mortgage payments
- Mortgage arrangement and valuation
- Stamp duty
- Solicitor
- Survey
- Removals
- Initial furnishing & decorating
- Buildings insurance
We can help you achieve your plans, no matter what they are.
REGISTER WITH ESTATES EAST AS A BUYER
Tell us about the type of property you’re interested in, and we’ll match you with exciting new listings. We’ll also provide you with information on any upcoming opportunities.
Once registered, you’ll receive details of any properties that fit your needs directly to your inbox the minute they hit the market.
Be first on the list to view
“Helpful, efficient and friendly! I’ve used Estates East services a few times now, as a landlord, and they always find me excellent tenants.”
Mitch
“Great estate agents! Very friendly and efficient. They made our moving-in process smooth and effortless. We had a few technical problems, but they were resolved immediately, and the team was always on hand to help.”
Rye
“Ciara, Becky and the team were fantastic and a pleasure to do business with. Their communication was great and Ciara was always ready to go the extra mile for me, checking the property over, taking photos when…
Jen Hale
“Outstanding service. Our sale was quick and seamless and Charlie & Ciara did a great job of managing viewings with us with two little ones. Despite the market, we got a great offer and we were so pleased with…
Jen Hale
“I would strongly recommend Estates East, from start to finish the team was amazing, so helpful, kind and totally professional. At each stage, the team kept us informed and this put us at ease as it’s so stressful…
Liz
“Fantastic experience with Estates East, so happy we sold with them. Very clear and approachable to us as sellers and the buyer by all accounts. Being the buyer with other estate agents I have seen how awful it can…
