First Time Buyers In Bournemouth

Getting onto the property ladder can be quite the challenge and is a goal for most people in their lives. However it can also be a duanting task with all the conflicting advice out there. Lety our advisors assist you through the whole process from the initial contact to find out how much you can borrow etc. When you buy your first home it is an expereince that you will never forget, planning ahead can give you a hge advantage when it comes to getting the home that you really want. Putting down a respectable deposit is one of the first steps to think about when you want to buy your first home.

Getting as big of a deposit as possible will help you to have a better chance of obtaining your dream home. The lenders will have to think about the challenges potencial borrowers may encounter during the life of the mortgage. These may be periods of unemployedment or if you have children you will have less disposable income and other factors similar to that. The bigger the deposit the less exposed the lender is to changes.  A bigger deposit will also make for smaller monthly repayments and a smaller mortgage for you to pay off and therfore you will become more affordable.

We also recommend that you set some money aside for moving costs, we know that it is very important to budget for everything even if you don’t think you will have to pay for something it is always good to be prepared just in case. Things like stamp duty, some buyers may be liable for it and you will also have to pay surveyors and solicitor fees. The actual cost of moving from A to B and furnishing your home will depend on a variety of factors. It can also be helpful to budget for any unforseen expenses, these will be for things that you didn’t notice until you moved into the house.

Checking what government scheme are happening as well might be really useful to you as these can help you to get a smaller mortgage, the government can lend you up to 20% of the purchase price of the property and all you need is a 5% deposit which means you will only need to get a mortgage for the remaining 75%.

If you thought this information was useful we can give you more advise to make your house buying process easier for you. Please get in contact with us.