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New Year, New Home? The 7 products you need when buying a property

19 January 2016

Sold house sign



It is that time of year again where everyone is discussing their new years resolutions & the ventures they will embark upon for 2016. We have the “new gym starters”, the “smoking quitters” and the “money savers” but according to Time magazine, these are the resolutions that are most commonly broken sometime throughout the year. The “money savers” tend to fail because as said by money experts , home owners should only be paying 33% of their income on their mortgage but many people go over this recommended healthy percentage. This is then where the “new home seekers” of the new year evolve in an attempt to find a more affordable property. 


Whether you are moving home or buying for the first time, we have the list of products you need to prepare you for your big move and potentially save you money in the long run. 


  1. 1. MORTGAGE 


In order to purchase a house, homeowners usually take out a loan with a bank or building society. They pay for the full amount of the property where the purchaser will then repay the money back to them in monthly instalments. This is known as a mortgage and is an essential product for buying a home. 


Read the article here for some tips on choosing the right mortgage for you. 




A solicitor is a qualified lawyer who offers full legal services. In the case of home buying, a solicitor is needed to transfer the legal ownership of a property from the seller to the buyer. Therefore without a solicitor, the whole process of buying and selling cannot physically be carried out. 


Read our blog available here to get yourself clued up on solicitor’s talk. 


We also offer our own conveyancing service where we recommend you a solicitor based on price, service & locality. For more information visit our blog here or call us on 0203 245 2860.




Life cover is an optional insurance policy taken out by homeowners which pays out either a lump sum or regular payments to dependants (children, parents or other relatives who depend on your income) if you were to die. This policy will cover the mortgage of your house or other living expenses and is designed to give you the peace of mind that your family will be looked after in this event.


For more information click here




Some life insurance policies will also include something called critical illness cover which will cover living costs or your mortgage in the event of you or one of your dependants becoming seriously ill. If you are going to take out life insurance, it might be worth checking if you are covered for this or taking out an additional policy for it.  




Buildings insurance covers the structures, fixtures & fittings of your house. In other words, anything that cannot be taken with you when moving home. Hence if any of the above become damaged, your insurance will pay out for the repairs. It is usually a compulsory condition of your mortgage. 




Unlike buildings insurance, contents insurance is not a compulsory condition of your mortgage. This type of insurance is designed to protect your belongings, or in other words anything that can be taken with you when moving home. 


Read our blog here on how to make the best out of your home insurance. 


7.   WILL 


A will is a formal written document which allows you to decide what happens to your money, property and possessions after your death. If you do not write one, the government decides what happens to your belongings. 


We offer our own will writing service which you can find out more about by calling us on 0203 245 2860.

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