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Thinking of Selling or Letting your property?

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FAQs

If you are looking to buy a house or any other property in Erdington, here are some of the things you’ll need to consider beforehand.

How long does it take to buy a house in Erdington?

Typically, the process of purchasing a house in Erdington spans around 6 months, although this timeline can fluctuate depending on individual circumstances. On average, it takes roughly 20 to 90 days to locate a suitable property, followed by 15 to 30 days to secure a mortgage offer. Subsequently, allot about 20 to 30 days to appoint a solicitor and exchange contracts. Finally, anticipate another 10 to 30 days for the completion process and to obtain the keys to your new home.

What credit score do you need to buy a house?

To successfully qualify for a conventional mortgage to buy a house, it’s generally advised to maintain a credit score of 620 or higher. Falling below this threshold might lead to challenges in securing approval for your loan or could necessitate acceptance of a higher interest rate, thereby increasing your monthly mortgage payments.

How much does it cost to buy a house in Erdington?

The expenses associated with purchasing a house in Erdington can vary significantly. While the UK’s average house price stands at £277,000, the specific costs in Erdington may deviate from this figure, influenced by factors like location and property size. Additionally, prospective buyers should budget for expenses such as conveyancing fees and the type of survey required, which can further impact the overall cost of purchasing a house in Erdington.

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