Many buyers assume that receiving a mortgage offer means the hard part is over. However, as Louise Ainley, a qualified conveyancer at licensed conveyancer course provider Access Law Online, explains, several crucial steps remain before the keys are handed over.
Stay in contact with your solicitor
“Once your mortgage is approved, it’s important to keep regular contact with your conveyancer, estate agent, and mortgage broker,” said Ainley. “The legal process isn’t complete yet, and there are still important documents to review and sign, local searches to finish, and contracts to exchange.
“Any delays in communication or paperwork can slow down the entire process and potentially cause complications.”
Finalise buildings insurance early
“Buildings insurance is a requirement for most mortgage lenders and must be in place from the date contracts are exchanged, not the day you move in,” explained Ainley. “This means the property is protected during the final legal stages.
“Without insurance in this period, you risk being responsible for any damage that happens before you take full ownership.”
Understand contract exchange and completion
“Exchanging contracts is when the sale becomes legally binding. At this stage, both buyer and seller commit to the transaction, and a completion date is set,” Ainley noted.
“Your conveyancer will manage the legal paperwork and check funds are transferred properly, making sure everything runs smoothly until you receive the keys.”
Don’t underestimate the final steps
“Mortgage approval doesn’t mean the process is finished. You still need to sign all necessary contracts, confirm a completion date, and have the funds ready to transfer,” said Ainley.
“Any hold-up in these final steps can affect everyone in the property chain, from the buyer to the seller and all parties involved.”
Set up utilities and council tax in advance
“Once your completion date is confirmed, start setting up your new utility accounts such as gas, electricity, water, broadband, and council tax,” Ainley advised. “Arranging these early allows services to be ready from day one, preventing inconvenient delays and helping you settle in more comfortably.”
Update your address
“Changing your address with banks, employers, insurance providers, and other important contacts should be done as soon as possible,” Ainley commented. “Keeping your details up to date helps avoid missed bills, important notices, and protects you against identity theft.”
Plan your post-move budget
“Mortgage payments are just one part of homeownership costs. Other ongoing expenses like insurance, council tax, service charges, and routine maintenance should be taken into account and planned,” said Ainley.
“Creating a clear monthly budget now will give you better control over your finances once you’ve moved in.”
Prepare for long-term home maintenance
“Regular maintenance jobs, such as servicing your boiler, checking the roof, and general repairs, can prevent costly problems later,” Ainley explained.
“Setting aside a small amount each month to cover these expenses will keep your home in good condition and reduce stress over unexpected repairs.”
