Buying off-plan is something many people shy away from because they feel it’s a complicated process that is best left for people with a lot of property experience. The truth is it’s really simple and can be a very intelligent investment. Here are 10 steps to purchasing an apartment off-plan.

You won’t be able to get a mortgage offer until about six months before completion, however it depends on which lender you use. A financial advisor will give a good steer as to what can be borrowed and when you should begin the formal application process.

Once you have agreed a price, you will need to pay your reservation deposit which takes the apartment off the market.

You will also need to fill out a reservation form and appoint a solicitor. If you do not have a solicitor, there is often a suggested solicitor who is familiar with the specific process for that development.

When your apartment is ready, you will be sent a completion notice telling you how long you have to complete on your purchase – usually about two weeks. You just need to let your mortgage company know and your solicitor will do the rest. You will be able to collect the keys on the day of completion. After you have exchanged, check with your financial advisor when you should start your formal mortgage application process. It depends on the lender but generally it is around six months prior to completion.