Planning A House Move Before Christmas? What To Do First

If you’re hoping to move house before Christmas, September is a good time to start putting your plans into action. Buying and selling a property can take several weeks or even months, so getting organised early can make the process much less stressful.

But what should you do first? From checking your finances to choosing a property and arranging your mortgage, here’s where to begin.

Review your current mortgage

Before looking at your next home, find out exactly where you stand with your existing mortgage. Check when your current deal ends and whether there are any early repayment charges if you sell or repay the mortgage before the end of the fixed or discounted period. 

You should also find out how much you still owe, as this will help you understand how much equity you may have available towards your next purchase.

A mortgage advisor can review your circumstances and explain your options, including whether your existing mortgage can be ported to your new property or whether a new mortgage could be more suitable.

Work out your moving budget

Your available budget isn’t simply the value of your current property minus your outstanding mortgage. Remember to account for costs such as estate agent fees, conveyancing, valuation and mortgage fees, removals and any potential Stamp Duty Land Tax.

Working out your overall budget early gives you a much clearer idea of what you can realistically afford.

Get your mortgage options in place

If you’re planning to buy another property, it can be useful to understand your potential borrowing capacity before you start seriously viewing homes.

A mortgage adviser can assess your income, expenditure, deposit or available equity and existing financial commitments to help establish a realistic price range.

You may also be able to obtain an Agreement in Principle. While it isn’t a guarantee that you’ll receive a mortgage, it can demonstrate to sellers and estate agents that you have considered your finances.

Get your home ready to sell

If you’re selling your current property, now is the time to prepare it for the market. Decluttering, completing small repairs and improving kerb appeal can help your home make a strong first impression. 

You should also speak to estate agents about valuations and choose an agent you’re comfortable working with. Getting your property listed sooner rather than later gives you more opportunity to find a buyer before the Christmas period.

Think about protection

Moving house is also a good opportunity to review your protection arrangements. Your new mortgage may be larger than your existing borrowing, while your financial circumstances and family commitments may have changed since you originally took out your mortgage.

Life insurance, critical illness cover and other forms of protection could help provide financial security if the unexpected happens. Your protection needs should be reviewed alongside your mortgage rather than treated as an afterthought.

Start now for a smoother move

If you want to be settled into your new home before Christmas, starting in September gives you valuable time to find the right property.  

You can review your finances, understand your borrowing options, prepare your existing property for sale and arrange appropriate mortgage and protection advice.