Buying a home for the first time can be a scary experience and one you will never forget. While the actual process of house-buying only starts once you have found a property. When putting down a deposit for a home, bigger is always better as the lenders will see your deposit as their own protection and when a lender reviews your mortgage application they will have to take into account periods of a reduced income or disposable income, this could be because you are starting a family. Another benefit of putting down a bigger deposit is that it will mean lower monthly repayments.

The government help to buy scheme is available to help people buying new-built homes. Provided that buyers can put down a deposit of at least 5% 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. The mortgage guarantee scheme can be used to buy a new build or preowned property.

Get some professional financial advice

Investing some time talking to a qualified financial adviser can go a long way to helping you make the best choices during the house-buying process and beyond. Whatever your plans and goals for your new life in your new home, getting your finances in the best possible shape is always a good starting point for making them a reality.