Getting onto the property ladder can be a really hard goal to achieve in everyone’s life, it can be a daunting task as well with all the conflicting advice out there. Our advisors will be able to assist you through the whole process from the initial contact, to find out how much you can borrow from the lenders, getting a breakdown of the costs involved and obtaining an agreement in principle, making you a qualified purchaser and a desirable buyer for many estate agents and sellers alike.
To make you a desirable purchaser you should have as big of a deposit as possible and the reason for this is because the deposit on a house is the lender’s protection and when deciding whether to accept a mortgage application or not they have to think about the challenges potential borrowers may face during the life of the mortgage and that is why a bigger mortgage will help with your application and will make the lender less exposed to changes. A bigger deposit will make for smaller repayments each month as you won’t have as big of a mortgage to pay back.
It is also a very good idea to set money aside for moving costs. It is important to budget for all costs that may be involved, buyers may be liable for stamp duty and will need to pay solicitors and surveyors fees. The actual cost of moving from a to b will depend on a variety of factors. It can be useful to budget for unforeseen expenses, in other words, funds available to deal with anything about your new home that you only noticed once you had moved in.
If you are interested in our advice and services please get in contact with us.