Are you looking to buy your first home? Let our advisors guide you through the process, as getting onto the property ladder can be a daunting task and with all the conflicting advice out there. We can help you find out how much you can borrow, getting a breakdown of all the costs involved and obtaining an agreement in principle. We can find you exclusive first-time buyer mortgages that offer better products than high street lenders. We also have a few tips to get you started on your journey. It is important to have your finances organised so you have a respectable deposit and still be able to afford the moving costs. We always say that a bigger deposit is better and the reason behind this is because a borrower’s deposit is a lenders protection. When deciding whether or not to accept a mortgage application, lenders have to think about the challenges potential borrowers may encounter during the life of the mortgage. These may include temporary falls in house prices or periods of unemployment. The bigger the deposit the less exposed the lender is to changes.
Also, a bigger deposit means you will have smaller repayments each month and will become more affordable with a bigger down payment. It is always good to set some money aside for moving costs, this is because the purchaser may be liable for duty stamp and will need to pay solicitor’s and surveyor’s fees. The actual cost of moving from A to B depends on a variety of factors and it is useful to a budget for unforeseen expenses.
If you are interested in any of our services please get in contact with us!