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Wednesday 10 March 2021
Wednesday 10 March 2021
Wednesday 10 March 2021
Wednesday 10 March 2021
If you’re looking for first-time home purchase advice, Barrett Mortgages is here to guide you through every step of the process. As experts in mortgages, we offer personalised advice tailored to your unique circumstances. Getting onto the property ladder is a life goal for many, but conflicting advice can make the journey confusing. That’s where we come in—helping you navigate the process with clarity and confidence.
Step-by-Step Guidance
At Barrett Mortgages, we’ll assist you from the very first step. This includes determining how much you can borrow, breaking down the costs involved, and obtaining an agreement in principle. By doing so, we ensure you are a qualified purchaser and a desirable buyer for estate agents and sellers alike.
Getting Your Finances in Order
Save as Much as Possible
The key to a smooth home-buying process is ensuring your finances are in top shape. Save as much money as you can each month and reduce your outgoings where possible.
Reduce Debt
If you have any outstanding debt, work on reducing or eliminating it before applying for a mortgage. Lenders consider debt when deciding how much you can borrow.
Maintain a Regular Income
A consistent and secure income demonstrates financial stability to lenders, increasing your chances of mortgage approval.
Keep a Clean Credit Rating
Your credit score plays a significant role in gaining the trust of lenders. A clean credit history shows you’re reliable with borrowed money, making you a more attractive candidate.
The Importance of a Bigger Deposit
We always recommend saving for the largest deposit possible. A bigger deposit acts as a lender’s protection and improves your chances of approval. Additionally, a larger deposit reduces the size of your mortgage, leading to smaller monthly repayments and greater long-term savings.
Budgeting for Moving Costs
When preparing to move into your first home, don’t forget to set aside money for additional costs:
Stamp Duty
Solicitors and Surveyor Fees
Moving Costs (e.g., removals services)
Furnishing and Equipping Your Home
Having a budget for unforeseen expenses, such as furniture, kitchen utilities, or bathroom improvements, can make the transition much smoother.
Explore Government Help-to-Buy Schemes
For eligible buyers with at least a 5% deposit, government Help-to-Buy schemes can provide significant support. These schemes may offer up to 20% of the property’s purchase price, leaving you to secure a mortgage for the remaining 75%. This can make your first home purchase more accessible and affordable.
Why Choose Barrett Mortgages?
Many people are tired of the high-pressure sales tactics employed by large corporations. At Barrett Mortgages, we take a different approach:
Personalised Service: Advice tailored to your individual circumstances.
No Pushy Sales Tactics: We prioritise honesty and transparency over pressure.
Experienced Team: Our knowledgeable team ensures you receive the best possible experience.
Contact Us Today
If you’re ready to start your home-buying journey or need professional advice, don’t hesitate to get in touch. We’re here to help you achieve your dream of owning your first home with confidence and ease.
If you’re looking for first-time home purchase advice, Barrett Mortgages is here to guide you through every step of the process. As experts in mortgages, we offer personalised advice tailored to your unique circumstances. Getting onto the property ladder is a life goal for many, but conflicting advice can make the journey confusing. That’s where we come in—helping you navigate the process with clarity and confidence.
Step-by-Step Guidance
At Barrett Mortgages, we’ll assist you from the very first step. This includes determining how much you can borrow, breaking down the costs involved, and obtaining an agreement in principle. By doing so, we ensure you are a qualified purchaser and a desirable buyer for estate agents and sellers alike.
Getting Your Finances in Order
Save as Much as Possible
The key to a smooth home-buying process is ensuring your finances are in top shape. Save as much money as you can each month and reduce your outgoings where possible.
Reduce Debt
If you have any outstanding debt, work on reducing or eliminating it before applying for a mortgage. Lenders consider debt when deciding how much you can borrow.
Maintain a Regular Income
A consistent and secure income demonstrates financial stability to lenders, increasing your chances of mortgage approval.
Keep a Clean Credit Rating
Your credit score plays a significant role in gaining the trust of lenders. A clean credit history shows you’re reliable with borrowed money, making you a more attractive candidate.
The Importance of a Bigger Deposit
We always recommend saving for the largest deposit possible. A bigger deposit acts as a lender’s protection and improves your chances of approval. Additionally, a larger deposit reduces the size of your mortgage, leading to smaller monthly repayments and greater long-term savings.
Budgeting for Moving Costs
When preparing to move into your first home, don’t forget to set aside money for additional costs:
Stamp Duty
Solicitors and Surveyor Fees
Moving Costs (e.g., removals services)
Furnishing and Equipping Your Home
Having a budget for unforeseen expenses, such as furniture, kitchen utilities, or bathroom improvements, can make the transition much smoother.
Explore Government Help-to-Buy Schemes
For eligible buyers with at least a 5% deposit, government Help-to-Buy schemes can provide significant support. These schemes may offer up to 20% of the property’s purchase price, leaving you to secure a mortgage for the remaining 75%. This can make your first home purchase more accessible and affordable.
Why Choose Barrett Mortgages?
Many people are tired of the high-pressure sales tactics employed by large corporations. At Barrett Mortgages, we take a different approach:
Personalised Service: Advice tailored to your individual circumstances.
No Pushy Sales Tactics: We prioritise honesty and transparency over pressure.
Experienced Team: Our knowledgeable team ensures you receive the best possible experience.
Contact Us Today
If you’re ready to start your home-buying journey or need professional advice, don’t hesitate to get in touch. We’re here to help you achieve your dream of owning your first home with confidence and ease.
