Advice For First Time Buyers
If you are looking to move out and into your own property you will want to get the best deal possible. We know that getting onto the property ladder is a key goal in a lot of peoples lives, however, it can be quite a daunting prospect with all of the conflicting advice out there. Let our advisors assist you through the whole process from the initial contact, finding out how much you can borrow, getting a breakdown of the costs involved and obtaining an agreement in principle, making you a qualified purchaser and a desirable buyer for many estate agents and sellers alike.
When you are preparing to get onto the property ladder you should have a few things on your mind to keep track of and build towards that will help you when you come to apply for a mortgage. The first and probably most obvious thing that you should be doing before you take out a mortgage is saving for your deposit every month. This is very important to get onto the property ladder because everyone needs a deposit to put down. We always say with a deposit that bigger is better and this is because with a bigger deposit you are purchasing more of the property yourself and this will result in a small mortgage and will be seen as more affordable, therefore you are more likely to be accepted.
Reducing your outgoing will also help in your application to get a good mortgage. It is very helpful to do this because you will be showing your finances to the lender and they will want to see that you aren’t spending all of your money on things that you don’t need. Things like takeaways and purchases that are unnecessary can have a negative effect on your application, But showing that you can save money and not spend it on things that aren’t needed can have a good effect on your application as well.
More Advice For First Time Buyers
Receiving a regular income is also very important as you will need to prove to the lender that you will be able to make the repayments on the mortgage. You will also want to make sure that you reduce your debt or have no debt as the lender could see this as a distraction that could get in the way of paying the repayments. Once you have done all of this and you are about to apply for your mortgage, you will want to have some money put aside for moving costs; This could be for stamp duty, solicitors and surveyor fees, the actual cost of moving from A to B will depend on a variety of factors. You might also want to have a budget for unforeseen expenses. This could be something that is wrong with the home that you didn’t notice until you moved in.
We are a professional finance broker and with our Office in Poole, Dorset we are providing mortgages for everyone. We were founded back in 2009 by Darren Barrett, this was during some of the hardest market conditions the industry has seen. The unparalleled, clear, trustworthy, honest and upfront service we provide has enabled our business to thrive during these times when people have needed more individual and specialist help. All our qualified experienced and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients.
If you are in need of our help please make sure you get in contact with our team. Take a look at our Google Reviews to see what our customers think about our service.