Thoughts For First Time Buyers

PUBLISHED: 16 November 2020
DISCLAIMER: The information in this blog post may be outdated and may not reflect current financial practices or market conditions

Getting onto the property ladder is a goal that most people have in their lives, we want t help you as much as possible to give you the best chance of getting a property that is your own. We can find exclusive first-time buyers mortgages, these offer better products than high street lenders. We can also give you specialist advice, we work with a number of lenders from across the market to find the best mortgage deals available to you. We can give you some tips to help you become an ideal buyer for any lender. The first thing you should consider when buying a home for the first time is getting as big of a deposit as possible. This is because a borrower’s deposit is a lender’s protection. The lender will have to think about the challenges the borrower will face during the life of the mortgage. Therefore a bigger deposit will help to make the lender less exposed to changes. Also, a bigger deposit will mean that you will have less to repay back every month, the property will be seen as more affordable this way as well.

It is also a good idea to have some money set aside for moving costs, this is because buyers may be liable for stamp duty and will need to pay solicitor’s and surveyor’s fees. The actual costs of moving from A to B and of furnishing and equipping your home will depend on a variety of factors. It can, however, be useful to have a budget for unforeseen expenses. In other words, funds to deal with anything about your new home that you only notice once you’ve moved in.

If you are interested in our advice and would like t0o find ou more? Get in contact with us and we will be able to get you financial advice from one of our brilliant advisors.