STEP ONE: Agreeing a price

When your price offer is accepted it is not binding until contracts are exchanged, which means that someone else could have a higher offer accepted (gazumping) at any time until then.

STEP TWO: Getting the mortgage

The usual requirements are for:

• A regular income in a permanent job
• If you're self-employed, 3 years' accounts to prove earnings.

If you don't fit into either of these categories, then you should be talking to Cannon Mortgages.

The value of the house is considered to be the purchase price or the valuation - whichever is the lower.

The lender will organise a survey to satisfy themselves on the value of the security. If the property is old, of unusual construction or possibly in need of repair, you should commission a structural survey.

STEP THREE: Conveyancing

You will need a solicitor or a conveyancer to do the conveyancing and searches. Their job is to ensure that the property does not have any nasty surprises, (e.g. the isolated dream cottage where title does not allow for access for services like electricity and plumbing, or someone else has rights to part of the land, or that there are restrictions on building extensions and garages etc.).

The solicitor will also collect the various other disbersements associated with buying a house..