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Your budget and mortgage

Updated: Nov 6, 2023

Having a clear understanding of your budget will help you focus your property search.

Are you selling your current home

If you currently own a property that you plan to sell to fund your new purchase, keep the following in mind:

  • Property Valuation: Get your current property valued to estimate its selling price.

  • It takes 2-3 months to sell your property and it could be longer if there's a chain involved.

  • When will your home be ready for viewings? Check out this guide on how to prepare your home for viewings.

Selling your home on Zump
Selling your home on Zump

Mortgage Buyers

Most homebuyers rely on mortgages to finance their purchases. Zump works with award winning mortgage brokers that can find the best deals for you.

Before house hunting, get pre-approved for a mortgage. This will help you understand your borrowing capacity and interest rate options. Without it, you may not know your full borrowing capacity and sellers may not take your offer seriously.

You also want to determine how much you can afford for a down payment. In the UK, a typical down payment is around 5% to 20% of the property's value.

Cash Buyers

If you have the means to buy a property outright with cash, you have the advantage of not needing a mortgage. This can make your offer more appealing to sellers and simplify the buying process.

We're happy to help with any questions you have. You can contact us via email at


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