How to sell your home

The housing market is the strongest it’s been in five years, according to a recent report by Zoopla (read our report overview here), so if you’re thinking about putting your house up for sale there are a few steps you need to take.

Check the fees on your mortgage

You may be liable to pay fees to your lender if you move home, particularly if you ar on a fixed interest rate. Some mortgages are ‘portable’ meaning your mortgage moves with you at no extra cost. Contact your Linear advisor and they will be able to help you find out how long you have left on your current deal and how much it will cost you to move.

Make your property look desirable

Before you do anything, you need to make sure your house is in tip top condition – inside and out. You will increase your chances of selling faster if it looks desirable.

Remember, first impressions count. Everything from a freshly cut lawn to squeaky clean windows can make all the difference. Tidying and decluttering is also essential to make your home more sellable.

The less personal your house is at this point, the better. You want to create a home that viewers can picture themselves living in. Mirrors can add an illusion of more space and light.

Make sure it stays spotless from this point on – especially for the listing photographs and when you start to get viewings.

Getting your house valued

Once you are ready to get the property valued, make sure you have a realistic expectation of what it is likely to be worth. Compare with other similar properties currently on the market. Remember, very few properties sell for the asking price.

Use online services such as Zoopla to investigate house prices in your area. It will also give you an average price homes have sold near you.

It is advisable to have more than one estate agent value your home – it can help give you a balanced view of what the property should go up for. Don’t reveal the values each gives as it may skew their answers!

Listing your home for sale

There is a growing trend of people using online estate agents to sell your home, but that does not necessarily mean it’s the best way for you. There is no right or wrong way to sell your home!

Using a High Street Estate Agent

  • An agent will take care of the whole process
  • Likely to have much better local expertise
  • Typically costs more, but you only pay the fees once the house is sold (often a percentage of the sale)

Using an online estate agent

  • You can control the whole process
  • They tend to be cheaper, but you may have to pay a fixed fee upfront
  • Look out for the ‘no sale, no fee’ agents
  • You can get hosted viewings, but these may come at an additional cost

Be wary of  “in-house” mortgage and solicitor services offered when appointing your estate agent as they often have a premium loading. Your Linear advisor can help with solicitors from a comprehensive panel, as well as with your mortgage and insurance needs.

What next?

Speak to a Linear mortgage adviser who can advise you through the whole process – especially the situation with your mortgage as it is essential to know the cost of moving before you begin.

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Your property may be repossessed if you do not keep up payments on your mortgage.

Linear usually charges a fee for mortgage advice. The precise amount will depend on your circumstances but may range from £399 to £599 up to a maximum of 1% of the mortgage amount. The fee is payable when an application is submitted to a mortgage lender and is non-refundable.