Selling your home? Here’s 7 factors to consider to help you get ahead

Selling your home? Here’s 7 factors to consider to help you get ahead

New year, new home? Whether you have outgrown your four walls, youre on the hunt for a home in the catchment area of a good school or you’re dreaming of an outdoor space. The new year brings with it feelings of a fresh start.

So, if 2023 is the year you plan on selling your current property and moving home, we’re got some expert-approved tips from mortgage adviser Jo Jingree of Mortgage Confidence and Graham Colliss, sales director and founder of independent estate agents, Expose.

“Moving home is no easy feat,” Jo says. “However, there are a few things you can do to make sure you’ve got your ducks in a row and ready to move as quickly as can be.”

Here are some tips on where to start:


1. Complete a fact find

Have you got some time off over the Christmas period? If you answered ‘yes’ to that question, why not set aside 30-60 minutes to complete our handy Mortgage Confidence Fact Find? The fact find securely draws together all your personal and confidential financial details in our secure portal.

“It will list details like your income and your expenditure which forms the basis of any mortgage application,” Jo says. “Meaning we can give you the most up to date info and advice based on your circumstances.”

This means when you do come to sell and buy your next home, you’ll know how much you can afford and an approximate of how much your mortgage repayments will be each month.

“So you’ll be one step ahead of the game and in a great position when you find ‘the one’.” Jo adds.


2. Self employed? Get your accounts in order

Are you self employed? Have you completed your 2021-2022 tax return yet? Along with doing this ahead of the looming 31st January 2023 deadline, it’s good to have this information to hand so that potential lenders can see your most up to date accounts.

It could also be handy to dig out the last three years of your Tax Year Overview just in case lenders want to double check the information provided on your SA302 is correct.

“Usually, your Tax Year Overview is produced by HMRC after you have submitted your self-assessment tax return,” Jo tells us. “This file shows the amount of tax due to be paid.”

This can be found on your HMRC account or get in touch with your accountant if you have one.

3. Check your credit score

When was the last time you checked your credit score? While you’re getting your financial affairs in order, now could be the time to do so.

But why is this? “If something surprising does turn up, like an outstanding loan agreement or disputed utility company payment records, it gives you enough time to manage and hopefully boost your credit score,” Jo says.


4. Consider getting your house staged

When it comes to the property world, first impressions are everything. In fact, according to one survey, a massive 76% of buyers believe first impressions are everything when viewing a property.

As property expert Graham from Expose says: “Presentation is key, especially when it comes to producing your marketing materials. You are selling a lifestyle as well as a home, so ensure it looks good.

“Also, make sure your agent takes beautiful photos and includes plenty of them in the advert. Often agents who only include a few pics are cutting corners on marketing to save money which comes at your expense.

“Ask to see a draft of your advert before it goes live and don’t feel afraid to speak up if you are not happy with the quality of your home’s advert, it is what makes the difference between just getting a sale eventually and getting the best price possible. Ensure the write up is comprehensive and accurate too. If it’s too scant or cheesy it will put buyers off.”


5. Get legally prepared

Selling a home and buying a new one comes with lots of moving parts. Which is why Graham recommends getting on top of the legal practicalities that come with the process.

He says: “If you own a flat, approach the managing agent or freeholder to obtain your management pack. This is a document outlining the management accounts for the block, its service charge schedule, works done and due and any other financial information relating to the building.

“It’s something your buyer’s solicitor will need and managing agents are notoriously slow in providing it. Typically, your solicitor will obtain it once they have obtained payment from you. But you can trim weeks off your transaction time by ordering this as soon as you’ve instructed an agent.”


6. Be wary of high valuations

It might be tempting to do so, but going with the highest valuation isn’t always a good thing.

As Graham explains: “Agents will often try and seduce you onto the market with unrealistic prices and then will tie you into a long contract. Often 12 weeks or more, with no option of leaving them if they aren’t getting you acceptable offers or providing the service you expect.”

So what should you do instead?

“Search out the agents that are selling the majority of their listings and reducing the least prices,” Graham adds. “Most agents only sell 40-50% of their listings and reduce between 30-40% of their prices.”


7. Get in touch with a mortgage adviser

Mortgage advisers specialise in finding lenders who will meet all your needs (and more) when it comes to getting a mortgage. They do this by looking at your personal circumstances and recommending suitable mortgages for you.

Not only do they manage your mortgage application, they’re also there to provide support throughout the process. Plus, all mortgage advisers are regulated by the Financial Conduct Authority (FCA) which means you can rest assured you’re getting an honest and fair deal.


Ready to make your next move? Jo offers a free 30 minute no obligation telephone or video chat. So do get in touch to discuss your mortgage, moving home or any other mortgage-related issue.  


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