When you are first buying a home it is good to have as big of a deposit as possible, this is because then the amount that the mortgage company has to payout will be less and therefore you will have to repay less as well and you will have more money each month. Also when a mortgage company is deciding whether to accept your application or not they will look at possible problems you may face during the life of the mortgage and this could be temporary unemployment or a period of lower-income, for example when you have a child, and having a bigger deposit can help. When you are looking to get your mortgage it is always good to set a bit of your money aside for moving costs as buyers may be liable for stamp duty and will need to pay solicitor’s and surveyor’s fees. The actual cost of moving from A to B and furnishing your new home depends on a variety of factors.

You will also want to check to see if there is any help available to you from the government, help to buy scheme is available to help people buying new-built homes. Provided that the buyers can put down a deposit of at least 5% and the government will lend up to 20% of the purchase price of the property. This means that the buyer only needs to get a mortgage for the remaining 75% of the purchase price. Getting some advice from a qualified financial adviser can go a long way to helping you make the best choices during the house-buying process. Getting your finances in shape is always a good starting point for making them a reality.

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