Buyers checklist
Buying a house is a big decision. You need to make sure you can afford the mortgage payments as well as all the other costs like bills and insurance.
You can print these checklists for you to complete later by clicking on the print button in your browser or selecting the 'print' option in the 'file' menu in the menu bar of your browser.
The Financial Services Authority (FSA) have created a website to help you further understand mortgages by giving you impartial information. Find out more on the information the FSA can give you.
Finance checklist
Your first priority is to work out exactly how much you can afford each month, taking into consideration that monthly mortgage repayments can rise and fall as a result of interest rate changes.
Can I afford it?
| Monthly income and expenditure | |
|---|---|
| Monthly income First borrower Second borrower |
£_______ |
| Total monthly income (after tax) | £_______ |
| Monthly expenditure Council tax Water rates Home and contents insurance Life, car and other insurances Ground Rent and service charges Repairs/maintenance Electricity Gas/oil Telephone Holiday savings TV rental/licence Transport Food Clothes Entertainment Savings Credit card payments Personal loans/HP Membership subscriptions Other expenses |
£_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ £_______ |
| Total monthly expenditure (before mortgage payments) | £_______ |
| Total available for purchase | ||
|---|---|---|
| Mortgage obtainable (Monthly payment) Plus savings/sale proceeds (after paying off any existing mortgage(s)) |
(£_______) |
£_______ £_______ |
| Less: Solicitors fees Estate agents commission Estimated repair bills |
£_______ £_______ £_______ |
|
| Total available for purchase | £_______ |
|
| House purchase price Price range Comfortable Stretched |
£_______ £_______ |
We hope this checklist is useful. You should always ensure that you are able to afford the payments before committing yourself to any loan.
Home checklist
When you look at a house for the first time it's all too easy to be captivated by the excitement of buying and owning the house of your choice and to ignore the potential risks such as a leaky roof or dry rot. Our home checklist gives you the major pitfalls to look out for. By using this checklist and your own common sense you can avoid making mistakes you may regret later.
General
Do you like it?
Would travelling to work be easy?
Are there good transport facilities?
Are there good shops and schools nearby?
Are the adjacent homes well maintained?
Will the house be available when needed?
Exterior
Does the house seem to be in a good state of repair?
Can the exterior be easily maintained?
Are the windows double glazed?
Is there a garage/garage space?
Is the garden the right size?
Is the house/garden overlooked?
Is there private access to the house?
Any other good features?
Interior
Are there any serious visible defects?
Is the decor to a satisfactory standard?
Is gas/electricity available?
Is it plumbed for washing machine/dishwasher?
Are there sufficient power points?
Is there one or more television points?
Is there one or more telephone points?
All mortgage pages must be read in conjunction with the important information (mortgages) page.
