First-time buyer: when to arrange mortgage, searches and survey?

[katie245]

As a first time buyer what’s the best order to do things? The offer has been accepted. The vendor hasn’t started their new house search as yet. The EA wanted my solicitors details immediately, so I’ve quickly found a local one. Asked them just to do onboarding & no searches etc until the vendor has found somewhere. Is that correct?
Ive a mortgage in principle but do I need to secure that for this house? If I do and the vendor pulls out do I lose the application/product fee? It’s nearly £1000! At what stage do I get a level 3 survey? Once the vendor has found something or sooner? It’s an old Victorian house that’s a little bit neglected so I definitely want to know what I’m buying. If I do it now and the vendor takes months & months & doesn’t find the next place / decides not to move afterall, I’ll be seriously out of pocket. BUT if the survey raises issues and there needs to be a price negotiation surely that’s better now not later? I’d love to know what others do or what the recommended process is.

Correct - wait until the chain is complete before doing those things.

Re the mortgage, you do the full application, they will then issue you with a formal mortgage offer which will have an expiry date (usually 6 months I think?) if you don't take out the mortgage within that time you won't be charged the product fee. I can't speak for the application fee though as I've never had that before.

Re the survey they usually only take a couple of weeks to instruct and carry out so you can wait until further in the process when you feel confident the chain is moving forward. (Chain is complete, all solicitors instructed and doing searches etc)

A word of warning as a first time buyer though especially when buying a Victorian doer upper. The survey will likely throw up lots of things that look scary but are part and parcel of owning an old home.

how exciting for you OP.
as @Unicornorange says, expect lots of issues to be highlighted, most of which won’t need any attention at all. You would be best finding a surveyor that is experienced with listed and heritage properties, that way you will get a more balanced and guided report and recommendations appropriate for the property. I’d join the Facebook group Your Old House Conservation and Repair UK and ask for recommendations on there. Also read and learn as you will begin to recognise what needs attention and what not to do!

I’ve seen the ‘your old house’ FB group and that scares me! A lot of time and effort (and money) seems to be spent taking off inside & outside plaster / concrete and switching to lime. And scraping floors. I was hoping to just white emulsion everywhere and live with it for a bit but seems not. Which is scary.

@Tortephant how do you determine what needs attention and what doesn’t please? For example the house, like many others has been concrete rendered externally (smooth not pebbled), it’s a bit messy; and internally it’s plastered, then papered, then painted. I keep hearing that these solid brick houses need to breathe - this one can’t do , so is that an issue or not really?

Are you sure this is the kind of house you want to be buying? You could be buying money pit without even knowing it- and I know that's the risk with any house but buying an older property is riskier.

old Victorian house that’s a little bit neglected

It wil have lots of costly issues
Is it priced cheap?
Do you have funds for basic repairs?
Yes you can paint white and clean and live with it for a while assuming no kids etc to be in the way?

Yes, that’s a massive issue. It’s a timebomb for damp.
OP, really this is probably not the house for you.
the cement and plaster should all come off and be replaced with lime render and pointing and plaster. It may be fine for now, but there is a massive issue waiting to appear.
A standard survey won’t tell you this, it will likely find other issues that actually aren’t a problem, like windows or whatever.
as for knowing, it s a learning curve that you find yourself on once you own or are interested in an older property!

@Tortephant and would a level 3 survey highlight this or not really please?

You want to find a heritage surveyor. One experienced with period properties and techniques. Call the SPAB helpline then may be able to point you towards one near you.