Are you a first-time buyer looking for an easier way to get onto the property ladder? We are able to give you advice to help you to buy somewhere in Poole. We know that getting onto the property ladder can be very hard and a daunting task, but it is a goal for everyone at some point in their lives. There is a lot of conflicting advice out there so let our advisors assist you through the whole process. Buying your first home can be an experience you will never forget. While the actual process of house-buying only starts once you have found a property you like, planning ahead can give you a huge advantage when it comes to getting the home you really want. Family finance is very important and getting it all organised will help you in the long run.
Having a bigger deposit is better is our eyes, in simple terms, this is because the lender will have to make a decision to accept your mortgage application or not and they will think about the challenges you may encounter within the life of the mortgage, this could include temporary falls in house prices, periods of unemployment and periods of a reduced income or disposable income. The bigger the deposit the borrower can put down the less exposed the lender is to changes. A bigger deposit will also make for smaller monthly repayment as well, as you will have a smaller mortgage to pay back your payments will also be smaller.
It is a good idea to set some money aside for moving costs. It is important to budget for everything as buyers may be liable for stamp duty and will need to pay solicitor and surveyors fees. The actual cost of moving from A to B, furnishing and equipping the new home, it can be useful to have a budget for unforeseen expenses, this will be any problems are things that need to be changed in the property that you only noticed once you had moved into it.
You can check to see if the government has any help to buy schemes available to help people who want to buy new-built homes. Provided that buyers can put down at least a deposit of 5%, the government will lend you 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 of the property.
Barrett Mortgages is a professional finance broker with offices in Poole, Dorset. Providing mortgages for everyone including first-time buyer mortgages, self-employed mortgages, buy to let mortgages, re-mortgage and insurance products from a preferred selection of reputable industry leaders. Fed up with the high-pressure sales tactics of the large corporates? Barrett mortgages was set up by Darren Barrett and we promise no pushy hard sales tactics and we base our success on referrals. Our staff are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers.
If you are looking for some advice on help to buy Poole mortgages or any other mortgage please don’t hesitate to get in contact with us