While buying a house can be a very exciting time, you may soon find out that it can turn into a pretty stressful situation. In fact, a new survey has found that buying a home is one of the most stressful situations you can go through.

Continue reading to find out why buying a house can become such a hassle, and what we can do to help alleviate some of that stress.

Survey data shows that stress during a house move is a common occurrence

A survey reported by Mortgage Strategy has revealed that more than 4 in 5 people found moving into a new home stressful.

Indeed, the study shows that the process ranked as more stressful than Covid, Brexit, divorce, redundancy, school exams and driving tests.

The weight on your mind when moving home was further reflected by the fact that 25% of people that responded to the survey reported that moving house negatively affected their mental health.

So, what is it that makes moving house so stressful?

The biggest reason people reported strain was the fact that there are so many unknown factors when it comes to buying a property. Until the purchase is actually complete, many people were unsure when everything would be finalised.

Following this, the second most stressful thing about moving home was the fact that their purchase could fall apart without any warning before it had been completed.

Other issues that caused difficulty included:

  • Professionals such as solicitors not keeping buyers updated
  • Hidden costs buyers may face
  • Negotiating on the price
  • The prospect of borrowing a significant amount through a mortgage.

Looking at the data, there are going to be inevitable worries when you move to a new home. With our help, however, there are steps you can take to make the whole process much easier.

3 ways we can help you to reduce the stress of buying a home

1. We can get an agreement in principle for you

Having an agreement in principle (AIP) can give you the peace of mind that you’ll be able to borrow the amount you need to buy your new home.

A lender will provide an AIP once they have reviewed your income and outgoings, and conducted a credit check. It’s an indicative idea of whether a lender is prepared to lend and, if so, how much you might be able to borrow.

Having an AIP demonstrates to estate agents and potential sellers that you are in a good position to buy the property you want. This may make them much more likely to accept your offer, as they see you as a credible buyer.

Rather than shopping around and visiting multiple lenders to obtain an AIP, speak to us. We work with dozens of the UK’s leading mortgage lenders, and we know exactly who to approach based on your specific circumstances.

2. We can help take the hassle out of finding a lender

Even with the help of the internet, finding a mortgage lender can take up a lot of your time. With dozens of lenders to choose from, how do you know which is the right one for you?

Shopping around for a mortgage can amount to a lot of stress. So, speaking to an independent expert can add real value.

For example, you will only have to provide your information once, then we can find the lender that best suits your circumstances. We have access to a wide range of lenders – including some that only deal with intermediaries like us – and so we can help you find a lender prepared to agree the mortgage you need, and the most appropriate fixed-, variable-, or discounted-rate deal for you.

All of this help can go a long way in reducing the stress of trying to find a mortgage and make the entire process less of a headache.

3. We can help to manage the process

As previously mentioned, the Mortgage Strategy survey found that people being left in the dark while purchasing a new property causes a lot of stress. This, paired with having to manage so many different aspects of the process, can really bring lots of uncertainty.

That’s why you may want to get our help to manage the process of getting a mortgage and moving house.

We can liaise directly with the surveyors, lenders, solicitors, and estate agents on your behalf. Not only will this help the entire process run smoothly and efficiently, but it will also lift a weight off your shoulders.

We will keep you informed every step of the way – at no point will you feel like you have been left in the lurch with no idea what stage your mortgage application is at.

Get in touch

If you would like help alleviating the stresses that commonly come with getting a mortgage and moving house, please email us at enquire@london-money.co.uk or call (0207) 808 4120 to find out more.

Please note

Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it. Think carefully before securing other debts against your home.

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