Apply for FirstBuy
Stage 1 - Application
- Register your interest
- Arrange to see an Independent Financial Advisor (IFA) to gain confirmation of your financial status
Stage 2 – Eligibility
- Your Local HomeBuy Agent will assesses your eligibility.
- If eligible, you will receive an 'Approval of Eligibility Letter' within four working days of submitting a completed full application.
- You will receive details of the level of mortgage you should be seeking (your 'Prescribed Mortgage Level').
Stage 3 – Reservation
- Make an appointment with our sales team.
- Choose your Kingsbrook Park property which meets your criteria.
- Complete a 'Property Information Form' and return it to your Local HomeBuy Agent together with details of your solicitor / conveyancer and a copy your completed reservation form.
- Pay a reservation fee, if required, usually up to £500 - you should not pay this until you have been confirmed as eligible by the Local HomeBuy Agent.
- Instruct a solicitor to act for you and tell your IFA so that a full mortgage application can be submitted.
Stage 4 – Exchange
- Your Local HomeBuy Agent reviews the 'Property Information Form' ensuring it is consistent with the terms of your approval letter.
- If it is, your Local HomeBuy Agent issues an 'Authority to Proceed' and instructions to you and your solicitor/conveyancer. This pack will include legal documents that will be explained to you by your solicitor/ conveyancer.
- You agree to exchange contracts within a timeframe specified by Berkeley. (usually 21-28 days)
- Your solicitor/conveyancer checks that your mortgage offer, property price and available funds are consistent with the Authority to Proceed, and requests permission to exchange contracts from the Local HomeBuy Agent.
- Your Local HomeBuy Agent issues approval to your solicitor/conveyancer and contracts are exchanged.
- You will have paid a deposit if required and are now legally contracted to complete the purchase by an agreed date.
Stage 5 – Completion
- At completion, your lender provides its funds and the Agency will make its funds available to Berkeley.
- Once completion has taken place you own the property and can move in.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT FINANCIAL ADVICE.
