We all know that it is not the easiest task to get yourself onto the property ladder. With all the conflicting advice there is out there, let our advisors guide you through the whole process from your first initial contact to making you a desirable buyer for many estate agents. We have some tips that we would like to share with you that may help to get you on the property ladder. Planning ahead can give you a huge advantage when you are looking to purchase a new home. Having as big of a deposit as possible is always good. The reason for this is because the lender will have to think about the challenges the borrower may face during the life of the mortgage. This may include periods of unemployment or reduced income, so the more you can put down the less exposed the lender is to changes. Bigger deposits also mean that you will have smaller monthly repayments.
We also think it is a good idea to set some money aside for moving costs. 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 the new home will depend on a variety of factors. It can, however, be useful to have a budget for unforeseen expenses. In other words, funds available to deal with anything about your new home that you only notice once you’ve moved in. You should also look if there are any government schemes going on. Help to buy schemes can help you have a smaller mortgage as you will only have to provide a 5% deposit and the government will lend up to 20% of the property purchase price and this means you will only have to get a mortgage of 75% of the purchase price. If you are interested in our services please get in contact with us.