Once you decide to put an offer on a property, you shall be required to send over your offer amount and buying circumstance in writing to the RIGHT-STEP Associate.
This will then be passed onto the vendor for a decision to be made. If the vendor deems the offer acceptable you shall be required to supply the following details before the offer can be accepted.
Declaration of offer form
You shall receive the declaration of offer document from your Associate which you shall be required to fill out fully, sign and return. This document highlights the property you are intending to purchase, the full names of all potential purchasers, your chosen conveyancing solicitor details, Mortgage broker/adviser details, Estate agent details, your intended timescales and any other information crucial to the purchase. This information will be used to draw up Memorandum of Sale if your offer is accepted, which is sent to all parties appointed conveyancing solicitors.
Proof of identification
As part of the Anti-money laundering regulations and company policy, you shall be required to Supply proof of identification which can be ONE of the following:
- Valid Passport
- Valid UK Driving Licence
Proof of address
As part of the Anti-money laundering regulations and company policy, you shall be required to Supply proof of address which can be ONE of the following:
- Driving licence (if NOT used as proof of identification)
- Council tax bill dated WITHIN the last three months
- Utility bill (Gas, electric, water ONLY) dated WITHIN the last three months
Proof of funds
As part of the Anti-money laundering regulations and company policy, you shall be required to supply Proof of funds via three months Bank statements (dated within the last three Months) for the following:
- Deposit amount (if Mortgage purchase)
- Stamp duty amount
- Conveyancing/Legal fees
- Full purchase amount (if cash purchase)
Proof of funds we CANNOT accept.
- Banking screenshots
- Mini Statements
- Photographs of statements
- Crypto accounts
- Transaction statements
Agreement/ decision in principle (AIP / DIP)
If you are planning to purchase a property using a mortgage you shall first need to have spoken to a Mortgage broker/adviser or lender to obtain an Agreement / Decision in Principle (AIP / DIP). This is normally supplied as a document or certificate from the lender and you are required to supply this.
Agreement / Decision in Principle (AIP / DIP) helps you understand how much you could borrow before you apply for a mortgage. It’s also known as a Mortgage Promise or Decision in Principle and is seen as the first step to buying a home.
How is an Agreement in Principle different to a mortgage offer?
A mortgage offer is an official document from your lender to confirm they will provide you with a mortgage for a specific property. This is only provided after you have completed a full mortgage application.
Please note, during the sales progression you shall be required to supply the mortgage offer when received.