It’s been more than a year since our first review of online estate agent Purplebricks, and a lot has happened since. After their share price fell from 5.1% to 4.6% last year, the online agency withdrew its overseas efforts to double down in the United Kingdom. In August, they announced that their strategic focus was now ‘fully on the UK’. 

Along with this renewed UK focus, Purplebricks has also made some changes to their business model, the biggest being a new Money Back Guarantee. Having once proudly made the distinction between their fixed fee service and the high street agent’s proportionate ‘no sale no fee’ charge, Purplebricks have now adopted a NSNF policy - provided that certain criteria are met.

While many might be surprised, the groundwork for this change has been there a while - or at least, since Purplebricks began facing financial difficulties. Back in 2019, Chief Executive Vic Darvey told the Press Association, ‘*With any successful business, you need to adapt and evolve your pricing strategy . . . In certain markets (...) there is a moment of hesitation from customers saying: ‘I know I can save £10,000 but actually do I want to commit to an £899 upfront fee when my house may not sell?*’ At the same time, Purplebricks had reported a £52 million operational loss, and had begun withdrawal from the United States and Australia.

### How do Purplebricks fees work in 2021?

After successful trials in the North West of England, Purplebricks took their Money Back Guarantee scheme nationwide. The Pay Now and Pay Later structure covered in our last article remains the same: Pay Later customers must pay a £365 administration fee to hire conveyancers outside of Purplebricks, while Pay Now customers don’t have to. 

The Classic and Pro packages, aside from a £100 increase, remain intact and unchanged:

**Classic (Individual viewings)**

- London & surrounding areas: £1499
- Rest of UK: £999

**Pro (Assisted viewings)**

- London & surrounding areas: £1999
- Rest of UK: £1499

Back in July 2020, we concluded that, due to their stripped back approach to homeselling, and 50% of their stock not selling, Purplebricks were not a viable option for first time home sellers. Now, with their new Money Back Guarantee, the online agency has taken another cue from the high street agents they promised to outprice and outmarket.

Has anything changed since 2020 to make Purplebricks a reliable option for home sellers? And is their Money Back Guarantee worthwhile?

### How does the Purplebricks Money Back Guarantee work?

The smallprint of the Money Back Guarantee reads:

‘*Money back guarantee of fixed fee redeemable if no qualifying offer is made within 10 months. Qualifying offers are 90% of the property valuation provided.’

This seems pretty straightforward. Fixed fees can only be returned if no qualifying offer of 90% of the property valuation has been made.

Let’s take a look at the terms and conditions. There’s a lot to unpack here, so we’ll address each one in order.

### Potential problems with the Money Back Guarantee

1. **Static selling price**

*Your valuation must be the same as or less than the valuation provided by the Local Property Company (LPC). If you instruct an LPC to advertise at a higher price than the price you were given, you won’t get your money back.*

One of the main issues with the Money Back Guarantee is that it relies on your valuation being static. If you instruct your LPC to advertise at a higher price, you won’t be able to claim your money back if your house doesn’t sell.

If you don’t like the valuation you receive, you could request another LPC to evaluate your room - however, this is contingent on another Purplebricks LPC being available. If they aren’t, you’re stuck with the valuation you were given.

Even if you do manage to get a different LPC, you might still end up violating the Money Back Guarantee. The terms of this aren’t clear, but we know it depends on which expert you instruct, and the valuation you receive.

This is a far cry from the flexibility of high street estate agents. Valuations from these agents are usually free, and you can get them from as many agents as you like.

Here at GetAgent, we always recommend choosing three different agents to evaluate your property. That way, you can pick the best, realistic valuation for your property. You can compare local agents and request valuations for free using our Agent Comparison Tool below.

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2. **Lack of flexibility over viewings**

*If you delay or frustrate the sales process by declining property viewings, then the money back guarantee will not apply and cannot be claimed.*

Another takeaway from the terms and conditions is that declining viewings will lead to the Guarantee being rescinded. This can make things awkward. House viewings should work for you, the home seller, especially if you’ve paid for a Classic Purplebricks package where you arrange viewings yourself.

Aside from declining viewings, it’s unclear how else a home seller might ‘delay’ and ‘frustrate’ the sales process. Ambiguities like these could further jeopardise your chance of claiming your money back if your home doesn’t sell.

3. **Tied in 10 month agreement**

*Purplebricks must be given ‘sufficient time’ to market the property. The Money Back Guarantee is only allowed if you continue to work with Purplebricks for 10 months from the Service Agreement date.*

Purplebricks must be given at least 10 months to market your property. This is a long time for a house to be on the market. If your house doesn’t sell and you reclaim your money, it’ll be much more difficult to sell in the future. Property listings tend to stagnate after a number of weeks of going live, which means the first few weeks are crucial to success. 

If you wait the full 10 months, you might even lose your window to sell altogether. The property market could take a turn for the worse, your financial situation could change, or an unexpected life event could throw a spanner in the works.

This leads us to the next clause:

*Money Back Guarantee won’t be valid if you appoint another agent to market your property, and you accept an offer from this agent before expiry of 10 months is over.*

If your LPC is getting nowhere with your sale, it might get frustrating knowing there’s an agent who could do a better job, but you’re unable to switch because of the 10 month contract.

With high street agents, it’s a much different story. Like Purplebricks, high street estate agents include a tie-in period in their contracts, but they’re usually much shorter. Typically, they last for 6 weeks, with a notice period between 1 and 4 weeks. Of course, there are penalties if these terms aren’t met, but there’s clearly much more flexibility than Purplebricks’s 10 month contract. 

Another plus point with high street agents, is that you can market your property using several of them. Essentially, this makes them compete to get your property sold. While this method has its pros and cons, it’s just one example of the extra freedom found in high street agency’s contracts.

4. **In a recession, you won’t get your money back**

*If property prices reduce by 5% in any quarter as measured by the nationwide house pricing index, the Money Back Guarantee will no longer apply.*

If house prices fall by 5% in a quarter, the Money Back Guarantee will no longer apply. This means that should a recession hit the market, Purplebricks won’t relinquish your money. 

Recessions are inevitable and some real estate agents have recession clauses in their contracts to insulate their business from the worst of the storm. Still, it’s a discomforting thought that should the property market go south, you’ll have the most to lose from your property sale.

### Is the Purplebricks Money Back Guarantee worth it?

While the Money Back Guarantee is undoubtedly an improvement over the original fixed fee service, there are ambiguities and issues with both the service, and ultimately, Purplebricks as a whole. As a result, the Money Back Guarantee doesn’t seem worth it under current circumstances.

In the past few years, we’ve seen Purplebricks return to the UK and overhaul their business model due to financial losses. The Money Back Guarantee is just one of many changes Purplebricks has made to improve the company’s chances of recuperating. This year they’ve also abandoned their old self-employed model and hired their sales agents as permanent employees.  

Whether or not the revamped structure will improve prospects, remains to be seen. If 50% of their home sales continue to fail, Purplebricks will see a double loss in profit as customers will almost definitely seek to invoke the clause.

### Six things you need to qualify for Purplebricks Money Back Guarantee

1. Your valuation must be the same or less than the valuation provided by the Local Property Company (LPC).
2. You can’t refuse house viewings.
3. You must allow Purplebricks to market your property for at least 10 months.
4. You can’t sign on with another agent in these 10 months.
5. Property prices must not drop by 5% in a single quarter.
6. You must not have received an offer worth 90% of your initial valuation.


a purple bricks for sale sign outside an unsold house 

purplebricks-conveyancing.jpg

Purplebricks has made some changes to their business model, the biggest being a new Money Back Guarantee. We take a look at how this works and what you need to qualify.

Purplebricks Money Back Guarantee Review

With interest rates at a historic low, it’s worth considering early repayment of your mortgage. In the current market, you’re unlikely to find a savings account rate with a better return than your current mortgage rate. This makes it more promising to pay off your mortgage early, potentially taking years off your plan.

Try [this Mortgage Overpayment Calculator](http://www.hsbc.co.uk/1/2/mortgages/overpayment-calculator) to see whether paying off your mortgage early makes financial sense.

The benefit of paying off some of your mortgage is that the interest rate - which may be higher in the future - will take a percentage from a smaller amount. This will decrease the overall amount you end up paying for your mortgage. The drawback is that lenders aren’t keen for you to do this, and they might charge a fee for making an early repayment.

Talk to your lender about any possible penalty fees before you make your decision. If they do charge an early repayment fee, make sure to work out whether your savings would exceed the costs of repayment.

We’d also recommend taking into consideration your broader financial situation. Make sure to pay off expensive debts with higher interest rates, such as personal loans, or credit cards, before you make early mortgage repayments.

It’s also good practice to have at least 3-6 months of savings in reserve for everyday emergencies, such as a broken boiler or unexpected redundancy, before thinking about paying off your mortgage early.

If you have any further concerns get in touch with a mortgage advisor. They will be able to provide tailored advice for your unique financial situation.

### Refinancing

Consider refinancing if:

* You’re able to lower your interest rate by at least 1-2%

Refinancing typically costs around 3-6% of the loan’s principal. If you’re not able to reduce your interest rate by 1-2% then your refinancing costs may indeed exceed your savings.

* Interest rates have decreased and you are looking to decrease a loan’s term while incurring the same monthly mortgage payments.

Refinancing in these conditions could help you decrease your loan’s term whilst repaying the same amount monthly.

* Interest rates are falling

Converting to an adjustable rate mortgage plan may be a great option for homeowners who are planning to live in their current property for a few more years. The change allows borrowers to benefit from lower interest rates - and corresponding lower monthly payments - but won’t lead to an increase in monthly mortgage payments when interest rates eventually rise again.


A couple sitting on chairs opposite a money lender. 

Should I repay my mortgage early?

With interest rates at a historic low, you should consider repaying off your mortgage early. However, there's a few things you should consider.

Should I repay my mortgage early? | GetAgent

If you're thinking about putting your home on the market, it’s important to time your sale so you can sell quickly, and get the best price.

While there are some common market trends that are worth bearing in mind, finding the best time to sell is slightly more complicated than avoiding Christmas or the summer holidays.

In this section, we'll look at what other factors could impact the success of your sale, and how you can go about finding out more about the property market in your area.

## When is the best time to sell a house?

Common wisdom says that **spring and autumn** are the best times of year to sell your home.

These months tend to be warmer, and don't coincide with any major holidays. This means that potential buyers have more time to look around homes, and any outdoor spaces are looking their best.

**The best month to sell a house is May**, closely followed by early October. May is right in the middle of the spring period, meaning it will be both green and warm, while October promises mild, crisp weather with no festive intrusions.

## When is the worst time to sell a house?

In contrast, **summer and winter are generally considered the worst times to sell your house** and the hardest times of the year to find a buyer.

Summertime sees many people going away, and it's harder for parents to go on lots of house viewings during the school holidays.

Winter on the other hand is dominated by saving for, and spending on, the festive season. The evenings are colder and darker so you’ll find fewer people are keen to spend the time looking around houses. However, those that do still come for viewings in winter are likely to be the most motivated to buy.

The **slowest month to sell a house is December**. Most buyers are preparing for Christmas in this period and are much less likely to consider moving.

Many estate agents also suggest putting your property on the market at New Year. However, there's divided opinion over whether this is actually a good time to sell your home.

On the one hand, the New Year is a natural time for many people to begin thinking about a 'fresh start', including making the decision to move house. On the other hand, because of this, there can be a lot of competition from other sellers also putting their properties on the market. This makes it easier to get a bit lost among the other properties coming to market.

[The Advisory](https://www.theadvisory.co.uk/house-selling/best-time-to-sell-house/) - an independent advice site for home owners - decided to put these theories to the test. They looked at the time it took for homes listed on property portals across Great Britain at different times of the year to go from listed to **Sold Subject to Contract (SSTC)**.

Their results found that those putting their home on the market in **March** received and accepted an offer in the shortest amount of time (an average of 57 days on the market). The second best month was **April** with an average of 58 days on the market. However, those trying to sell in **November** were likely to be on the market for the longest average time (79 days).

This suggests that as a general rule, spring and autumn are much easier times of year to sell a house than summer or winter - particularly if you're after a fast sale.

However, the reality is a little more complicated…

**_For up to date information on how long it's currently taking to sell homes in your area, [see our House Prices Tool](https://www.getagent.co.uk/house-prices)._**

#### How reliable are these seasonal trends?

Seasonal trends are far from being a hard and fast rule. The performance of the property market in 2020-2021, for example, provides plenty of evidence that suggests that seasonal patterns aren't reliable.

If you're thinking about selling your home, it's important to also consider what other things might impact your sale. Including:

* **Government incentives** - such as Stamp Duty holidays & Help-to-Buy schemes

Every so often, the government tries to stimulate the housing market by offering incentives or schemes that make it more affordable to buy homes. This is either to encourage more people to move, or to help a specific group (usually first time buyers) get onto the market.

A clear example of how these types of schemes and incentives can turbocharge the market is the **[Stamp Duty holiday which](https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates)** came into force in July 2020. This holiday offered a limited time opportunity to buy a property up to £500,000 without having to pay any stamp duty. This allowed buyers to make potential savings of up to £15,000. 

Inevitably, many people were keen to take up the offer, and data published by HMRC showed that almost 115,000 housing transactions took place in May 2021, nearly **140 per cent** higher than in the same month the year before. The prospect of savings overrode the usual seasonal trends - and made it an excellent time for sellers to put their home on the market.

* **General confidence in the economy** - Is saving an attractive option at the moment? How are levels of inflation, and unemployment?

Taking a look at the general condition of the economy _can_ provide an indication of whether people are going to be more or less willing than normal to buy property. 

If someone's financial future is unclear, they're less likely to consider taking on a large financial commitment like a mortgage. However, if interest rates are low, borrowing money becomes more affordable, and people will consider property to be an attainable investment.

* **Wider context** - Other things going on in the news, both locally and nationally, can also impact how interested people are in buying and selling property.

For example, issues surrounding the safety of cladding on high rise buildings - in the wake of the **Grenfell Tower fire**, and subsequent fires such as that at **New Providence Wharf** - have made many potential buyers more cautious about buying flats in tall buildings. Some lenders have even added criteria to their products, which make it more difficult to borrow against a flat in a high rise building.

At a local level, news of infrastructure projects or injections of investment, can have an impact on the housing market. For example, homes along the proposed [Crossrail route](https://www.crossrail.co.uk/news/articles/crossrail-predicted-to-increase-property-values-by-55-billion#:~:text=Crossrail%20could%20help%20create%20%C2%A3,largest%20independent%20commercial%20property%20consultant) have increased in value much faster than other areas of London since the announcement of the project.

## Questions to ask yourself before you decide to sell your house

What should you consider before you decide whether to sell your house? Ask yourself the following questions and you should have a better idea whether it’s worth selling your house or waiting for a better time.

1. How is the property market looking?
2. How are local market conditions?
3. How fast are similar homes near you selling?
4. Are you looking to buy as well as sell?
5. How quickly do you need to sell your house?
6. Am I at risk of negative equity?
7. Do you have the time to go house hunting?
8. Would you benefit from extending rather than selling?
9. How flexible can you be on asking price?

#### What are local market conditions like?

Although many news outlets will report on the property market as a whole, there's actually a huge amount of variation across the country.

Location and house type have a big impact on how easy it is to sell. For example, you'll often find more demand for properties in areas within commuting distance of big cities, than homes in very rural areas. You'll also find very few buyers actively looking to purchase a 10-bedroom mansion, a lighthouse, or a houseboat, so your property type will always factor into this. Make sure you look for comparable properties when you're examining the market.

Having a sense of how much demand you can expect for properties like yours will generally give you a better sense of whether the market is doing well - and whether now is the best time to sell.

For more information on local market conditions, check out our free **[House Prices Tool](https://www.getagent.co.uk/house-prices)**.

#### Do flats sell easier than houses?

In recent years, flats have proven more difficult to sell than houses. In an [article published in March 2021](https://www.zoopla.co.uk/discover/property-news/what-s-hot-in-the-housing-market/), Zoopla reported that flats were selling at least 3 weeks behind houses.

This isn’t always the case. Flats in big cities like London tend to sell quicker than houses because people are more likely to settle for cheaper accommodation.

However, because most flats are leasehold properties, they are usually more difficult to sell in the long run, especially if their lease is short. Also, flats are less likely to grow in value whereas the value of houses tends to rise over time.

#### Your personal circumstances

##### Are you looking to buy as well as sell?

Not all homesellers are looking to purchase another property. But, if you are selling in order to finance a move, you'll need to consider whether the market is good for _buying_ as well as for selling. While those just selling might rejoice at high house prices and lots of buyer demand, if you're selling and buying at the same time, this type of market can make the onward purchase much more stressful and expensive.

##### How quickly do you need to sell?

There are many reasons for selling: a new job, upsizing, downsizing, releasing equity. If you're in a hurry to move, you may decide it's less important to wait for the market to be 'just right', and more important that you sell quickly.

##### Am you at risk of negative equity?

It's a valid question to ponder, especially when considering your financial position and the current value of your property. Negative equity occurs when the value of your home declines to a point where it falls below the amount you initially purchased it for. 

This situation can become worrisome, particularly if your **loan-to-value (LTV) ratio** remains high, indicating that you may owe more on your mortgage than the current value of your property. It's crucial to assess these factors to better understand your risk of negative equity.

##### Who will I choose to help sell my home?

Selling a house isn't just a case of putting it online and hoping for the best. A lot of work goes into preparing and promoting it.

Even if you put your property on the market at the best possible moment, you won't feel the full benefit if you don't have the best team supporting you. Good photos, and strong online adverts will ensure your property stands out from the crowd, and encourage buyers to look round.

A well-prepared, local estate agent, who can provide all the information a potential buyer might need, will present your home in a much better light than an agent who doesn't know basic information. For more information on the attributes that make a local real estate agent, our [article](https://www.getagent.co.uk/blog/estate-agents/what-do-estate-agents-do) has it all.

## Should I sell my house now?

If you’re thinking about selling your house imminently, there are **five primary considerations** you need to make before you start.

#### 1 - Property market

How's the property market looking? The best time to sell is when there’s lots of buyers actively looking, but not enough sellers to satisfy them. Buyer competition reduces the amount of time you spend on the market, and drives up prices.

If you're thinking about selling your home now, there are a number of ways you can research what's going on in the market:

#### 2 - Home prices

House prices increase when there's a lot of competition or demand for homes. Prices go down when there are fewer buyers than sellers. If house prices are consistently growing in your area, that's a good indicator that there are lots of potential buyers.

For more information on local market conditions, check out our free **[House Prices Tool](https://www.getagent.co.uk/house-prices)**.

#### 3 - Demand

Property portals, like [Zoopla](https://www.zoopla.co.uk/discover/property-news/housing-market-sees-record-boxing-day-bounce/) and [Rightmove](https://www.rightmove.co.uk/news/articles/property-news/the-nation-is-busiest-home-hunting-at-8-48pm-on-a-wednesday/) often research buyer demand by looking at how many people are searching for property on their sites. Take this information with a pinch of salt - although it does correlate with the number of people searching, it also includes a lot of 'window shoppers' just surfing property portals for inspiration, or fantasy shopping.

Property portals are, however, a good place to see how many other sellers in your area are currently on the market. Take a look to see how many properties like yours are currently available, and how long they've been on the market. If properties have been on the market for several months, it's likely they're not currently in high demand.

#### 4 - Average mortgage rates & availability

When interest rates are low, borrowing becomes more affordable, and saving becomes less profitable. Because mortgage payments are significantly less than they would be in a high interest economy, it becomes more appealing for people to take out a mortgage and buy a property. Low interest rates are also a reflection of the general confidence mortgage lenders (many of whom are big banks) have in the economy.

The knock-on-effect of this is that house prices tend to increase when interest rates are low, because there's greater demand in the market. This is particularly positive if you’re trying to sell your home. More buyers entering the market means you’re more likely to sell your home quickly and for a higher price.

During the pandemic housing boom, interest rates were at an historic low. Housing prices rose amid a shortage of stock. This meant that while the number of 'for sale' homes was low, there was big competition for the properties that were available.

Higher interest rates, on the other hand, are associated with rising mortgage rates. When interest rates go up, borrowing becomes more expensive for banks and lenders. To offset this increased cost of borrowing, they often raise mortgage interest rates to maintain profitability. They need to balance their expenses and revenues to ensure their lending activities remain sustainable.

#### 5 - Estate agents

A local estate agent can be a great source of information about the state of the property market. If you're considering selling in the near future, we'd recommend [booking a free valuation](https://www.getagent.co.uk/vendor) with a few local agencies, and asking for their honest view about whether it's the right time to be going on the market. The best estate agents will be able to back up their answer with stats and data about the market - and properties they have recently sold.

## Summary: Don't compromise your sale

When you start thinking about putting your home on the market, it’s worth taking the wider property market and economy into account. However, trying to figure out whether market conditions are perfect shouldn't be the only thing you take into consideration.

The best time to sell your house is the time that fits best with your future plans. There will always be times when the market fluctuates, for better or worse, but attempting to game the market on such a long timescale transaction is rarely worth it.

If you’re not able to time your sale to coincide with a market peak, do not worry. People need to move house all the time, for reasons that don't fit with market trends: work, family, or finances. It may be a little harder to sell, but in the long run, the best estate agents will help you sell quickly at any time of the year.


Couple sitting against a bed looking at a notepad pensively.

Should I sell my house now?

While there are common market trends, finding the best time to sell your home is more complicated than avoiding Christmas or the summer holidays.

Should I sell my house now or wait? | GetAgent

Should I sell my house now or wait?

Preparing for house viewings can be both scary and exciting. A lot rests on how well people receive your home. It's important not to panic - now is the time to maximise your home's potential.

In this article, we look at the best ways to prepare your home for a viewing, as well as last minute tips for extra brownie points.

## When your property listing goes live...

To get the most out of your house viewings, you should start prepping as soon as your property hits the market. The preparation you do early on will help you make the best impression when prospective buyers pay a visit.

In the weeks leading up to putting your property on the market, you should prioritise getting these 7 important things done.

#### 1. Speak to your estate agent

There are **three reasons** why getting in touch with your estate agent should be the first thing you do.

Firstly, your agent requires comprehensive information about your property. By sharing all the essential details early on, your agent can craft an **exceptional online property advert** that stands out from the competition. This engaging and informative advertisement will capture potential buyers' attention and generate more interest in your home.

Secondly, it's crucial to inform your agent about any **time constraints** you might have hosting house viewings. If there are specific periods when viewings are not possible, such as during young children's bedtimes, communicate this to your agent promptly. With this information, they can schedule appointments that align with your availability, ensuring a smoother process for you and your family during this potentially stressful time.

Lastly, as an expert in selling property, your estate agent's knowledge is invaluable in **identifying your target market**. Rely on their advice to focus your efforts effectively when preparing your home for sale. Their knowledge of the market will help you prioritise the most impactful improvements, saving you time and effort, as well as making your property stand out from the crowd. 

While blogs and articles provide general guidance, trusting your agent's recommendations, especially if they have a proven track record of success, will be the wisest course of action.

#### 2. See if you can make any quick fix wins

Take this time to fix any small, niggling issues: replace any blown light bulbs, repair wonky or loose door handles, reseal leaky bathroom fittings, or any other small things that may have fallen under the radar.

Small problems like these aren't likely to completely put off a buyer, but they can detract from the positive aspects of your property. And, subconsciously, a buyer may feel that a person who hasn’t addressed small issues likely won't have addressed bigger things, either.

**Remember:** Sometimes it's hard to see all the details and problems in your home if you’ve lived there a while. Go through each room with a family member or friend - or even better, your estate agent - and make a list of any little bits that could do with cleaning or fixing.

#### 3. Clear out clutter

The early stages of marketing your home is the perfect time for a clear out. It's very easy to accumulate lots of personal belongings - particularly if you've lived somewhere a long time.

Sort out which bits you'd actually like to take with you to your new home, and which you want to donate, sell, or throw out. Remember, the viewer needs to be able to picture themselves living in your house, which means sentimental items, like family photos, will have no meaning to potential buyers. They also need to see the benefits of adequate storage - so you can't just shove everything in a cabinet.

#### 4. Sort out the garden

Gardens and outdoor space are key selling points for many homes. If you're lucky enough to have your own outdoor space, it's worth putting in a bit of time to make it look it's best: [a nice garden can increase the value of your home by up to 20%](https://www.getagent.co.uk/blog/diy/does-garden-increase-property-value).

It doesn't take much: pulling up weeds, mowing the lawn, and adding a couple of pots of colourful plants can go a long way to improving the feel of a garden. Adding in some good quality garden furniture is also a nice way to demonstrate to buyers how the space can be used.

This is also a great time to jet wash your patios and walk paths. Clean patios make an excellent first impression to potential buyers as they walk up to your front door.

For more tips on prepping your garden, [head here](https://www.getagent.co.uk/blog/diy/does-garden-increase-property-value).

#### 5. Maximise your kerb appeal

Kerb appeal is simply how attractive your property looks to someone walking or driving past. Think about what a potential buyer will see as they are walking up towards your home. What are the first things that will catch their eye?

Consider what flaws might stand out or make it less appealing, and if there are any 'wow-factor' elements that could be emphasised. A good place to start is to clean and paint doors and window frames, replace old doormats, and hide wheelie bins somewhere discreet.

#### 6. Ensure each room has a singular purpose

It's common for rooms to serve more than one function. A spare room might do double duty as a workout room and a study; you might use your dining room as a playroom too. However, when it comes to selling a property, giving each room a defined purpose makes it easier for a buyer to envisage their life there.

If you're unsure what purpose to go with, always keep in mind who your target buyer is. For example, young professionals might prefer a study over a playroom.

#### 7. Avoid any larger upgrades

While it can be tempting to make large upgrades to your property in a last minute attempt to boost its value, consider carefully whether it's worthwhile. We cover large renovations in more detail in our guide '[How much does it cost to sell a house?](https://www.getagent.co.uk/blog/selling-tips/house-selling-costs)'.

![vacuum](//images.ctfassets.net/us6n8ous4bz0/3KsE5aougxKHSve9jBfpIB/4bcf089442448e9dbf9bd25049ccfe22/woodlice-getagent-3.png)

## The day before your house viewing...

On the day of a house viewing, don't waste time trying to make everything perfect. Your focus should be on **quick, big-impact fixes**. A good rule of thumb is to think about the main senses: what can you see, smell, and hear when you walk around your home. 

With limited time, and with your buyers probably looking at multiple properties in a row, first impressions count.

#### 1. Wipe down surfaces

Particularly in high-traffic areas like the kitchen and bathroom.

#### 2. Hoover

A quick hoover is an easy way to freshen up a space when you have limited time.

#### 3. Double check that cupboards and storage spaces are neat

Potential buyers are nosy, they're likely to want to check out what storage space you have available, so make sure the insides of cupboards are presentable.

#### 4. Tidy away toys

While it can be hard to keep on top of children's things around the house, doing a quick sweep before viewings will help your home look neater.

#### 5. Take out the bin

Even if it's not quite full, taking out your bin will limit the chance of bad smells leaving a bad impression. If your wheelie bins are at the front of your house, tidy them to one side, or try and place them somewhere discreet.

#### 6. Clean the litter tray

As with your bin, making sure your pet's litter trays or hutches are clean will help solve the dual problems of house smell and the appearance of mess.

#### 7. Avoid airing your dirty laundry

If you're including white goods in your sale, viewers may want to inspect them up close during the viewing. Make sure your washing machine and dryer are empty before viewings in case people want to see inside. It's worth emptying the dishwasher too.

#### 8. Think carefully about what you're cooking

Before you start cooking on the day of a viewing, think carefully about how the smell of the food might linger. Avoid cooking particularly strong smelling foods like fish or eggs, if possible. Again, one of your main priorities here is to eliminate bad smells.

#### 9. Set your stage

Staging your home is the perfect final touch that'll make a huge difference to your property's reception. The little things like clean, folded towels in the bathroom, and replacing personal ornaments and photographs with more neutral decor items like fresh flowers, or lightly scented candles, can add that extra appeal to your home. 

For inspiration on easy ways to stage your home, browse Instagram, or read interior design magazines, where professional home staging is often a big feature.

![Things to look for during house viewings](//images.ctfassets.net/us6n8ous4bz0/fDmE1mY99WIq7VKyYsWmz/6b78dd066e785157129e87099631dbf0/what-to-look-for-during-house-viewings.jpg)

## On the day of your house viewing...

In the hour before a viewing, there are a few final things you can do:

#### 1. Open windows

Letting the fresh air in will help air out rooms, and ensure that any lingering smells are banished. Don’t overdo it with air fresheners and diffusion sticks - some people won't react well to the smells or strong odours. Flowers with low scents work better.

#### 2. Open interior doors

Where possible, keep the interior doors of your home open. This will make the inside of the house look more spacious, and make it easier for buyers to wander round.

#### 3. Last minute tidy

Tackle any small, annoying things that can be dealt with quickly.

#### 4. Make sure the temperature of every room is at a comfortable level

A too cold house suggests to a prospective buyer that your home might be difficult to keep warm.

#### 5. Open the curtains in every room

Letting the natural light in will make your home look bigger.

#### 6. Move your car

If you normally park your car on a drive outside your home, see if you can park it elsewhere. This will give potential buyers a clear view of your house as they walk up to it.

#### 7. Head out

As a general rule, it's better for you to be out of the house when viewings are taking place.

#### 8. Take out your pets (or arrange a pet sitter to look after them)

It's a good idea to take pets along too. Viewers might be allergic or afraid of animals.

#### 9. Tidy away pet bowls and cages

Pets leave behind a mess, especially around their bowls and cages. What's more, bowls and cages will remind viewers to look for dog or cat hairs.

#### 10. Tidy away items in the bathroom

Make sure all your toiletries are stowed safely away in a cupboard. If you have kids, ensure all their bath toys are placed somewhere less visible.

## How long do house viewings take?

House viewings can vary in length depending on the size of your property. As a general rule, expect them to take around 20 - 30 minutes.

If your agent is hosting an open house event, expect this to take between a couple of hours to an entire day.

## Top five tips for staging your home to sell

#### 1. Try and keep your house close to 'ready' for viewings throughout the marketing period

This will make it easier to facilitate last minute viewings.

#### 2. Make certain tasks a regular habit

If you can mow the lawn and clean your windows regularly during the marketing period, you won't need to go into panic mode when it comes time to prepare for a viewing.

#### 3. Pay special attention to prep in areas of the house with extra 'wow-factor'

If your living room is the highlight of your home, focus your efforts there to ensure viewers see it in its best possible light. If your home includes unique features like a fireplace, or large windows, arrange your furniture in those rooms to make the feature the focal point.

#### 4. Listen to feedback from viewers - and act on it

If viewers tell your estate agent that they love your home 'but...', listen to their complaint and do what you can to rectify it before the next potential buyer comes to visit.

#### 5. Leave hosting to the estate agents

When it comes to selling a home, there's no better advocate than an experienced agent. Many buyers also feel more comfortable asking difficult questions if the current owner isn't present. If you are in the house - say hello, but then let the viewers and agent walk around without interfering. 

## Getting views but no offers?

If they aren't already, we recommend getting your estate agent to take immediate feedback from your viewers to identify anything you need to fix or improve. For more tips, check out [our blog](https://www.getagent.co.uk/blog/selling-tips/why-house-not-selling).

If your house still isn't selling, it may be time to [compare](https://www.getagent.co.uk/vendor) local property experts. The best estate agent can make an astronomical difference to your home sale.

Estate agent leading family around a potential new home.

How to prepare for house viewings

Preparing for house viewings can be nerve-wracking. Here’s how to maximise your home's potential before they begin.

How to present your house for sale | GetAgent

Preparing for house viewings can be nerve-racking. Here’s how to maximise your home's potential before they begin.

How to present your house for sale

Online and hybrid agents are growing in popularity, we take a look at what they do, how they work and if should should use one.

## What is an online agent?

Online agents are estate agents that operate virtually, rather than from an office on the high street. Their services are usually a more basic, stripped back version of those offered by local estate agents. Because of this, they're also generally cheaper.

## How popular are online estate agents?

Using an online agent has been an option available to home sellers for many years. But they've only really come into the mainstream in the past few years.

They are still much less popular than traditional high street agents. According to the latest TwentyCi Property & Homemover report only 7.9% of properties across the UK are sold by online estate agents. Over 90% of homesellers still choose a local agent.

Virtual agents are more popular in the North West, the Midlands, and Yorkshire & The Humber, where 10% of home sellers choose to work with them. They are also more commonly used by home sellers whose property is worth less than £200,000.

## Why do people use an online agent?

Online estate agents tend to sell their services as a cheap and flexible alternative method of selling your home. They have tried to separate themselves from the negative connotations that many people have of estate agents. The people who choose to work with them are generally attracted by the following factors:

**Low, upfront, and fixed-fees**

On the face of it, online estate agents appear to offer a much cheaper way to sell your home. These agents charge a small fixed fee, rather than commission, and many online estate agents promote this as a way to budget effectively, or save on the commission costs charged by high street estate agents. If you're looking for a basic sales package, with no extras (like viewings, marketing, or sales progression - which incur extra fees), the low fixed-fee offer could be appealing.

When we spoke to homesellers using an online estate agent, 80% of those interviewed told us they chose their agent because they wanted to save money. [Our free tool compares estate agents fees](https://www.getagent.co.uk/i/compare-estate-agent-fees) so you can see their value vs performance.

**Control / flexibility**

Other homesellers are attracted by the control offered by online estate agents. Given their pared back approach, the homeowner has to take responsibility for key parts of the sale, such as hosting viewings and negotiating offers. Some people choose this option because they have professional experience of selling property. Others are attracted to the flexibility the online agents' stripped-back approach offers.

**Negative feelings towards estate agents**

Some homesellers are pushed towards using online estate agents because of a previous negative experience with a high street estate agent. Estate agents have a notoriously bad reputation. According to the latest Ipsos Mori Veracity Index, only 30% of consumers thought estate agents were trustworthy. Working with an online agent offers the opportunity to reduce the amount of time spent actually dealing with estate agents. This is appealing to some who have had a bad experience.

## How does an online estate agent work?

### **Valuation**

Before putting your house up for sale an estate agent will need to conduct a valuation. This is the case regardless of whether you're selling your property with a traditional, online, or hybrid agent. This valuation will provide a guide for the asking price you include on your property advert.

Unlike traditional high street agents, an online estate agent won't actually have to visit your house in order to value it. Because they aren't local experts they rely on online data about historical property sales in your area. They'll analyse the local property market to see how much houses in the area have sold for previously, and how other properties are currently priced. At a very basic level they will take an average of price per square foot of these recently sold properties, and multiply this by the size of your house.

For example: if homes in your area have sold for an average of £500 per square foot, and your house was 1000 square feet in size, an online estate agent would value your property at around £500,000.

There are many flaws to this method of valuing. Firstly, it's only accurate if all the recently sold houses in your area are like yours. If you live in a detached house, but the majority of surrounding properties are terraces, this type of valuation won't be very accurate.

Secondly, an online-only valuation doesn't take into account all the unique features of your home that impact its value. You might have a beautiful period fireplace, or have undertaken renovations recently. These can't be assessed properly without an in-person valuation, and so won't be included.

Because of the inaccuracy of online only valuations, many hybrid estate agents now also conduct in person valuations. If you have a valuation from one of these 'local experts', make sure to ask exactly where they are based, and which other properties in the area they have worked on. The more experience they have in the area, the more accurate their valuation is likely to be.

You don't have to rely on a single valuation. Many estate agents will offer no obligation, in-person valuations for free. These give you the chance to discuss their different services, and to hear where they would position your property price-wise. You can book valuations easily, through our free Agent Comparison Tool.

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### **Marketing**

Once your home has been valued, your estate agent will help you to create an online property advert. This will be used to promote your sale on all the main online property portals.

## Will the photographs be professional?

What's included in your online agent's package will vary depending on your provider. Many companies will include writing a description of your home as part of their service. But it's likely that you'll have to pay extra for professional photos to be taken of your home.

Similarly, if you want to advertise your property offline you will need to take control of the process. Some online agents offer the option to purchase a physical 'for sale' sign. But, you might also want to consider putting adverts in local newspapers, in community centres, and on social media. These things will not be included as standard if you are using an online estate agent, so if you're budgeting, make sure to include any extra fees in your calculations.

### **Viewings**

Once your house has attracted the interest of potential buyers virtually, the next stage is to show off your property in person. Viewings are an opportunity for buyers to see the details that make your home special up close. It'll help them get a sense of the geographic location of the property too.

## Will I need to arrange & host viewings with potential buyers?

Most online agents don't include accompanied viewings as standard. This means that if you use one of these companies you'll have to be physically available to meet, and guide potential buyers through a tour of your house. If you're uncomfortable with this (or think your selling skills won't match those with expertise) some online agents offer accompanied viewings as an add-on extra.

Some companies offer this as a pay as you go arrangement. This gives you the option of hosting some viewings yourself, but having extra support for others. This can be useful if you can't be free at a certain time or you decide that you want extra help later on in the sale. If you're using [Strike](https://www.getagent.co.uk/blog/online-agents/strike-estate-agent-review) or sellmyhome.co.uk, you will pay viewing fees on this pay-as-you-go basis.

Other online estate agents (usually hybrid agents) have specific more expensive packages for selling your home which include accompanied viewings. These include agents like [Purplebricks](https://www.getagent.co.uk/blog/online-agents/purplebricks-review). These viewings will be hosted by 'local experts'. Bear in mind however that these representatives may not actually be from your neighbourhood. They might not be aware of the specific geographic features (like schools and transport links) that make your property appealing. So, if you're using an one of these 'local experts', make sure you brief them on these things before they host viewings.

### **Offers**

Once you've received an offer from a potential buyer you can choose whether you want to accept it, or to negotiate for a higher price. Some online agencies will provide help with negotiation, others will leave that to you.

If you choose to accept the offer, your conveyancer will spring into action. They'll negotiate the finer points of the contract, arrange surveys, ensure all the potential buyer's finances are in order, and prepare for exchange and completion. Usually a traditional agent will help guide you through this process. They'll ensure that everything is in order, and chase your lawyer (and your buyer's lawyer) to make sure the sale goes ahead smoothly.

In contrast, online agents offer limited sales progression support. Some, like Purplebricks, do provide access to a call centre type service, to help if you need it. Others have no sales progression support unless it is purchased as an extra. Sellmyhome.co.uk, for example, charges £299 for their 'completion management' service.

## How involved will an online estate agent be?

When enlisting an online estate agent, it's important to remember that they are likely to be pretty hands off when it comes to your home sale. They will value and list your property on the major online property portals (Zoopla, Rightmove, OnTheMarket). But after this they will place much of the responsibility for selling into your hands.

We interviewed a group of sellers that had chosen to work with online estate agents. Of those we talked to, 40% said that they spent more time than they'd expected managing the sales process. On top of this, around 50% felt the online estate agency they chose was poor value for money - in part because of this lack of real support and involvement.

Some estate agents will offer packages that include greater involvement in the selling process. These include pay-as-you-go hosting of viewings, or help with post-offer sales progression. These packages will usually cost more so double-check what's included in your contract before committing to an online agent.

Each online estate agent's standard offering is different, so check the terms and conditions carefully before agreeing to work with them - particularly if you're looking for a certain level of support during the sales process.

If you're unsure about the level of support and involvement you're after, exploring your options is a good place to start. Many estate agents offer free valuations. These are an opportunity to meet and interview the people you might work with to sell your home. We recommend meeting at least three before choosing the right one for your sale. You can easily book valuations through [our free comparison tool.](https://www.getagent.co.uk/vendor)

## Are online estate agents any good?

Home sellers seem to have a wide range of experiences when using an online estate agent. Some people report having a positive experience, and feel satisfied that they have saved money. Others find that the process is much harder, and slower than expected. A significant minority didn't manage to sell their property until they switched to a different agent.

When we spoke to home sellers who had worked with online agents almost 50% felt that the agency they chose was poor value for money.

Online reviews tend to reflect the extremes of opinion. Home sellers are either extremely happy or extremely dissatisfied by the service offered by their online estate agent. This could depend on where you are in the country, how many local property experts work there, and the company's experience level.

There has also been some controversy surrounding the reviews of some online estate agents. At the end of 2019, Wired published an investigation into Purplebricks' Trustpilot reviews. They found evidence that the firm screens the reviews it receives in order to manipulate its online ratings to be more positive. There have also been reports in the property industry press that Purplebricks offers incentives in return for positive reviews. If true, this accusation calls into question Purplebricks' claims that it is the 'highest rated estate agent in the UK'.

## Will an online estate agent get me the best price for my home?

No, an online estate agent is unlikely to get you the best price for your home. Research by several bodies has shown that local high street agents consistently outperform online estate agents.

There are a few reasons for this. First is that online estate agents lack the local knowledge that elevates a high street estate agent's sales pitch. Local expertise can help promote a house because of its proximity to schools and transport links, or because of the features that make it different to other properties on the local market.

The second reason is because of a high street estate agent's connections within the local property market. The best local agents usually already have a database of interested buyers in the area. In contrast online estate agents operating a nationwide call centre approach do not have the same access to local buyers. These connections, combined with the fuller marketing service high street estate agents provide, go a long way to explaining why high street estate agents have greater success at selling homes for the best price.

This is not to say that some online estate agents do not provide a good service. But, rather, that the best local estate agents will consistently outperform online estate agents.

## How does an online estate agent make money?

Like traditional high street estate agents, online agents charge a fee for their services. They also make money from add-on 'extras'. Add-on costs can include fees for: hosting viewings, resources for marketing (like a 'for sale' sign, or professional photographs), and sales progression services.

Online agents will also earn revenue from referral fees. It's common practice for online estate agents to recommend particular suppliers of legal services. If a seller elects to work with one of these recommended providers the online agent will receive a referral fee.

Unlike traditional high street estate agents some online estate agents make using partner services non-optional. This guarantees that they receive a referral fee.

Purplebricks's 'Pay Later' option is one instance of this. This option allows you to defer payment of your estate agent fee for 10 months, but also legally ties you into using Purplebricks's preferred legal supplier 'Premier Property Conveyancers'. The only way out of this clause is to pay Purplebricks a 'administrative fee' of around £360.

This means that either way they receive an extra fee on top of your basic estate agent fee package.

## Why do online agents ask you to pay upfront?

Online estate agents ask for payment upfront because it reduces the risk for the estate agent. They will get paid regardless of their performance, or if their business goes under (like Emoov in 2018, and House Network in 2019).

Some online estate agents are now also offering other options. Most common of these are options to delay, for example, Purplebricks's 'Pay Later' option. You won't have to pay your fees upfront, but you will be required to pay regardless of whether your agent sells your property or not.

If you choose one of these 'Pay Later' options many agents will require you to make an agreement with a credit company as part of the contract. They may also require you to use one of their partner services, as part of your estate agent contract. These partner services are notoriously poorly reviewed. Therefore, it's important to double check the terms and conditions of your contract before you decide to defer payment.

## Why are high street agents more expensive?

High street estate agents have higher fees because they offer a more complete service, and often get better results.

A high street agent's fee goes towards a full marketing service. This will include advertising across multiple channels and engagement with known local buyers. Traditional agents will also vet a buyer’s identity, and their ability to buy before they come and view your property. At viewings, they'll use their local knowledge to entice buyers into submitting an offer on your property.

They'll then negotiate offers, to ensure you get the highest price, and offer a full sales progression service (for no extra charge), so all the legal elements of your sale go through quickly and smoothly.

Part of the reason high street estate agents are so motivated to offer this complete service, and get you a speedy sale is their fee. Because traditionally, agents’ fees are commission-based, they only get paid once the sale completes. This means they are keen for a quick sale. But, commission-based fees also mean the amount an agent gets paid depends on the final sale price. The higher the price your property sells for, the more money your estate agent makes.

This means it's in your estate agent's best interest to get you the highest possible price for your home. A fixed upfront fee does not incentivise online estate agents in the same way.

Young woman looking stressed at her laptop screen.

How online estate agents work

Online agents are estate agents that operate virtually, rather than from an office. They offer a basic version of the services offered by high street estate agents.

How do online estate agents work? | GetAgent

How do online estate agents work?

Many people find the prospect of applying for a mortgage to be daunting. But don’t worry: you’re not alone. It _is_ a financial and organisational challenge. But with a little forward thinking and advance preparation the task can be broken down into a series of manageable steps and you can find the right mortgage for you.

## How to apply for a mortgage - 11 steps

If you haven't applied for a mortgage before, the way forward can seem a little unclear. To demystify the process, here are some simple steps on applying for a mortgage.

1. Make sure your finances are in order.
2. Check your credit score.
3. Work out your budget.
4. Check how much you can borrow using online tools.
5. Gather all the documents you need.
6. Export and download any bank statements, utility bills etc that you need and make sure they are up to date.
7. Compare mortgages online, talk to your bank or arrange a chat with a mortgage advisor.
8. Decide on the mortgage you want with your preferred lender.
9. If you haven’t yet made an offer, ask them whether you can get a mortgage in principle.
10. If you’ve made an offer, call your lender and make a formal mortgage application.
11. Start your application. Follow the process set out by your lender and provide the documents, details and so forth that you’ve previously prepared.

## Before you apply

#### What you should NOT do before applying for a mortgage

On the other hand, you’ll want to avoid doing things that will reduce your chances of obtaining a mortgage. Some things that could negatively impact your eligibility as a borrower include:

 * **Ignoring your credit score.** A poor credit score will make it harder to get a mortgage. Be sure to do your own credit check with one of the[ three main UK rating agencies](https://www.getagent.co.uk/blog/conveyancing/improve-your-credit-score). The score they assign you is reflective of your creditworthiness.
* **Apply for loans:** Recent loan applications could suggest a higher debt-to-income ratio.
* **Quit your job**. Lenders typically value the amount of time you’ve spent at your current employment.
* **Making large deposits or purchases**. Your bank statements will be scrutinized closely for any signs of irregular activity. Out-of-the-ordinary deposits or withdrawals could raise a red flag.
* **Forgetting to pay your bills on time.** Missing regular bill payments harms your credit score, which in turn makes you a less appealing candidate for a mortgage. Be sure to keep up credit repayments.
* **Closing credit accounts.** This can reduce your available credit, raise your debt-to-income ratio and harm your ability to get a mortgage.

#### How to boost your chances of getting a mortgage

While there’s no way to guarantee you’ll gain approval for a mortgage, your best hope is to maintain a good credit score and remain in full-time employment. All lenders use different criteria to determine who they’re willing to lend to, but all of them will include a credit check. If you’ve never used credit, however, you should try to establish a credit history before applying for a mortgage. 

To boost your chances of getting a mortgage you should:

* **Begin to build a credit history.** By ensuring you’re on the electoral register (especially if you’ve just moved somewhere new). You can register to vote [here](https://www.gov.uk/register-to-vote). 
* **Consider taking out a credit card.** Use it regularly and pay off the balance in full every month. By taking these steps, you’ll demonstrate your ability to pay off debt regularly. 
* **Stay in your current job for a while.** In terms of employment, you should aim to show stability by staying in your current job for a significant period before applying for the mortgage. 

[Read more about how to improve your credit score here.](https://www.getagent.co.uk/blog/conveyancing/improve-your-credit-score)

#### Work out your budget

What can you afford? And how much are homes being sold for? Before applying for a mortgage, use our free [House Prices tool](https://www.getagent.co.uk/house-prices) to set a price range for your house search. It doesn’t need to be specific, but you should get a general idea of the property prices in your preferred areas.

#### Speak to a mortgage adviser and find a mortgage

A good early step is to find a mortgage adviser (sometimes referred to as a mortgage broker) who can advise you on which providers are most likely to consider your application. All mortgage advisers must either be regulated by the [Financial Conduct Authority](https://www.fca.org.uk/), or be an agent of a regulated firm. 

The adviser will make suggestions about which type of mortgage is right for your needs. Advisers help buyers - especially first-time buyers - navigate the complicated mortgage process, so they’re an excellent resource about what to expect in terms of standard fees, extra charges and timelines. Mortgage advisers will also help you compare mortgages: Don’t settle for the first institution that offers you a loan because you could get a better offer.

#### How do lenders check if you can afford a mortgage?

Mortgage lenders have a thorough process for ensuring borrowers can actually afford the mortgage for which they’re applying: 

1. They will begin with a credit check to determine whether you can be trusted to repay the loan. 
2. Next, they will seek proof of your household income, including your salary (and your partner’s, if relevant), as well as any freelance work, bonuses, commissions or passive income. 
3. Lenders also want to know whether you’ll have sufficient funds at the end of the month to make your mortgage repayments, so they’ll also consider regular household bills, loans, debt load and credit cards.
4. Additionally, lenders perform what’s known as a ‘stress test.’ Stress tests were instituted after the 2008-2009 financial crisis to determine whether a borrower could still afford their mortgage in the event interest rates rise. Stress tests also address other life events, such as whether the borrower retires, has a child or goes on parental leave. 

All of these checks are designed to help lenders determine how much you could borrow and repay.

#### How long does it take to apply for a mortgage?

Applying for a mortgage may only take about 24 hours if you have all the documents ready, though a number of factors could delay it, especially if you’re juggling full-time work

Once an application is submitted, most borrowers can expect a mortgage decision within about four weeks. The process can take longer, however, depending on the specifics of the situation. If your mortgage application is successful, your [conveyancer](https://www.getagent.co.uk/blog/conveyancing/what-is-conveyancing) will arrange for the funds to be transferred from the lending institution to the sellers on the day of completion.

**[Read more on this topic: How to get the best mortgage rate](https://www.getagent.co.uk/blog/buying/how-to-get-the-best-mortgage-rate)**

## Applying for a mortgage

#### The pre-planning phase should include:

* Working out your budget
* Finding a mortgage broker to give advice
* Preparing the necessary documents 

#### What you need to apply for a mortgage

Once your offer on a property is accepted, it’s time to formally apply for your mortgage. To do this, you’ll need to gather together a raft of documents. Typically, you’ll be asked to provide original materials, although occasionally printouts or pdfs are acceptable in the case of bank statements. The document you need may include:

* Between two and six months of pay slips, bank statements, your last P60 and/or your self-assessment returns (if relevant) to verify your earnings.
* Details of your regular expenditures, including childcare costs (if relevant), utility bills, Council Tax, insurance policies, travel and entertainment.
* Employer information.
* Proof of any benefits received.
* Proof of identity (can be a driving license or passport).
* Proof of current address eg: Utility bills, electric, gas, water etc.
* Proof of deposit.
* Your solicitor’s details.
* Your estate agent’s details.

You should also contact the three main credit agencies -- Equifax, Experian and TransUnion -- to check your score and ensure none of the reports contain erroneous information about you.

#### Consider getting a mortgage in principle

Potential borrowers sometimes find that an initial, preliminary decision on their mortgage application - known as [‘mortgage agreement in principle’](https://www.getagent.co.uk/blog/buying/mortgage-agreement-in-principle) - can be more or less instantaneous. An agreement in principle is reliant on basic, self-reported income information and a quick credit check. It’s an indication of a lender’s willingness to lend to the borrower, but it’s only a preliminary decision.

A full mortgage is only delivered following satisfactory answers to more detailed questions about the borrower’s finances. Still, some buyers feel that [obtaining a mortgage agreement in principle](https://www.getagent.co.uk/blog/buying/mortgage-agreement-in-principle) early helps accelerate the mortgage application once they’ve decided on the property they’ll purchase.

#### When should I apply for a mortgage?

People typically make a mortgage application once their offer on a property has been accepted.

However, prospective buyers should begin _planning_ for their mortgage application well in advance – at least several months. This is especially the case for first-time buyers, who must familiarise themselves with the process and ensure they have a good credit score.

#### Make a formal mortgage application

You can apply formally for a mortgage after your offer on a property has been accepted. When this happens, your lender will send a surveyor to conduct a thorough valuation to ensure the property is worth the agreed-upon purchase price. Your lender will also examine all the financial paperwork that you’ve provided and conduct a credit search.. 

It’s worth remembering that your lender’s credit search will leave a footprint on your report, so if your application is rejected try to find out why so you can plan your next application accordingly.

**[Read more on this topic: What is the mortgage guarantee scheme?](https://www.getagent.co.uk/blog/property-news/what-is-the-mortgage-guarantee-scheme)**

## How does it differ if you’re self-employed?

If you’re self-employed, obtaining a mortgage may be more difficult than if you were working for an employer, but it’s not impossible.

The key challenge is to prove you have a reliable income, so you’ll need to provide more evidence of how you make your money than other borrowers. In addition to documents requested for ordinary mortgage applications, self-employed people will also be asked for:

* At least two years’ certified accounts.
* [SA302](https://www.gov.uk/sa302-tax-calculation) tax return forms (evidence of your earnings) or a tax year overview from[ HMRC](https://www.gov.uk/guidance/annual-tax-summary) for the past two or three years.
* Evidence of upcoming contracts (if you’re working as a contractor).
* Evidence of dividend payments or retained profits (if, for instance, you’re director of a company).

## How long does a mortgage offer last?

If your mortgage application is successful, the lender’s offer typically remains valid for up to six months. A re-mortgage offer usually has a shorter shelf life - around three months - because the purchase takes longer to complete.

Mortgage broker discussing with a couple across a desk.

How to apply for a mortgage

With a little forward thinking and advance preparation, a mortgage application can be broken down into a series of manageable steps.

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