It can be a tough task to move out and finally get your first ever mortgage. That is why we are here, to help you know exactly what you need to do to have the best chance of getting a good mortgage. The first thing you need to get right before looking to buy a mortgage is your finances, reducing your outgoings as much as possible as the lenders will want to know that you can definitely cover the cost of the mortgage and not wasting your money on stuff that isn’t needed. Reducing your debt or being debt-free is a big help as the lenders will want to know that your full focus is on the mortgage and not other finances. Having a regular income will also help you secure a mortgage. When you are looking at getting a mortgage having a good deposit will help you to get a good mortgage and we always say the bigger the better as this will help to bring down the monthly payments as well.
When you are looking at the house you want to look at the other prices of houses on the street and if yours is far more expensive than others in that postcode the area may have its own ceiling price, based on what people are prepared to pay to live there. Is the area up and coming, are there good transport links and decent schools within the area you want to move to? All of this is things to think about and to work towards when you are buying your first home.
Get in contact with us if you are interested in our services and one of our advisors will be able to help you find the perfect mortgage for you and your individual circumstances.