Getting onto the property ladder can be a hard task to complete and people are always seeking advice from friends and family members but some of this advice that can be conflicting to what others may have already told you. That is why you should come to our advisors who will tell you exactly what you need to do and will provide you with the best advice we can. We will assist you through the whole process from the initial contact to finding out how much you can borrow and get a breakdown of the costs.
We suggest that you get as big of a deposit as possible, the reason for this is because the deposit is the lender’s 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 and periods of unemployment. The bigger the deposit is the smaller monthly repayments because the mortgage would be smaller.
It is also a very good idea to put some money aside for moving costs. It is important to budget for all costs involved when moving home. 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 of furnishing and equipping a 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. Although not strictly a home-purchasing cost, new homeowners household items as the need arise.
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While having an offer on a house accepted may be a cause for celebration, it is actually a fairly early point in the procedure for buying a property. Here is a summary of the steps [...]