As Easy as ABC
Step A Find your Home
Step B Get things in order
Step C Your own home
You can start looking for a new home on bewest.co.uk and arrange a viewing with us once you have found something you like. If the property is still under construction you can register your interest on the BEWEST website, or you can reserve off-plan and be kept updated during the build.
Prior to your viewing we will ask you to complete an online form with one of the independent mortgage advisors. This confirms whether or not you are financially able to afford for the property you wish to view. The mortgage advisors will inform you within 24 hours of the outcome of your assessment.
Once our show home is ready, you can book a physical or virtual viewing online. This will give you an idea of the feel and specification of the property. It’s also a chance to do some wider research and check out the local area. And the ideal time to ask us any questions.
After you receive approval from your mortgage advisor, you will be asked to fill in a reservation form and pay a £500 fee to reserve the property of your choice.
The reservation form sets out full details of the property, including your share, monthly rent, service charge, solicitors’ details and the timeline for the sale. Please check everything is correct before signing, as it will be used to instruct all parties of the sale.
The reservation fee will be refunded if:
- You decide not to go ahead before accepting our offer
- We can’t offer you the home of your choice
- Your financial assessment is unsuccessful.
The reservation fee will not be refunded if:
- You wish to withdraw after accepting your offer
- You provide false or misleading information and we withdraw your offer.
Once your reservation is in order, we will email you to confirm your offer of a shared ownership home. This letter outlines the details of the home you are buying, explains what to do next, and recommends solicitors and mortgage brokers. You will need to accept your offer within 3 working days, so that your dedicated sales consultant can send out your Memorandum of Sale (MOS).
You will be asked to attend a financial interview with a mortgage advisor, who can also advise on arranging your mortgage. You will need to do this within three days of your offer. This is an in-depth discussion to make sure you can afford the home you want. At this stage, your financial advisor will ask to see documents such as passports and payslips. We will also need to check your identity in line with UK anti-money laundering regulations. This step can be done in person or virtually and just confirms both your identity and financial situation, and ensures you are ready to purchase your new home.
Make an appointment with your solicitor or conveyancer, who will handle the legal side of buying a property for you. Your solicitor will work with BEWEST appointed solicitors and your mortgage lender to put everything in place. They will also check the lease, submit searches and organise exchange of contracts and completion. Once you have instructed a solicitor and a mortgage advisor, you will need to complete an offer acceptance form.
You can arrange a mortgage through one of our recommended mortgage advisors. You will need to apply for a mortgage application immediately following on from your financial interview. Your mortgage lender will arrange an independent valuation of your new home. If they are satisfied, your mortgage offer will be issued to you and your solicitors. To keep things moving along, please send your sales consultant a copy of your mortgage offer as soon as possible.
Once the legal side of things is all in place, your solicitor will contact you to exchange contracts. This is usually within six weeks of being offered the home or five working days of receiving your mortgage offer (whichever is earliest).
This is when your home is ready to move in and has been ‘handed over’ by the developer to BEWEST for occupation. We will inform you weekly of the handover date. Handover can happen before or after contracts are exchanged.
Buying a new build? You will be invited to a home demonstration, where you can find out how everything works in your new home. You will be provided with a handover and a video of the home demonstration. You will also be able to measure up and take pictures. Our home demonstrations usually take about an hour and are held on weekdays between 9am and 4pm.
This is when you become a homeowner. But before that, your solicitor asks your mortgage lender to send the funds. This could take anywhere between 10 minutes to 10 hours so it’s important to wait until the funds have been received before your keys can be released to you. Then it’s all official. You can move in right away. Our team will arrange to meet you at your new home and hand you the keys.