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Monday 21 December 2020
Monday 21 December 2020
Monday 21 December 2020
Monday 21 December 2020
Getting onto the property ladder can be a challenging task. Many people seek advice from friends and family, but this advice is often conflicting, which can make the process even more confusing. That’s why it’s best to consult our professional advisors. We’ll provide clear, accurate guidance tailored to your circumstances, assisting you through the entire process—from the initial contact to determining how much you can borrow and understanding a full breakdown of costs.
The Benefits of a Larger Deposit
We recommend saving for the largest deposit you can manage. A larger deposit is crucial because it serves as the lender’s protection. When deciding whether to approve a mortgage application, lenders consider potential challenges borrowers might face during the term of the mortgage. These challenges may include temporary declines in property values or periods of unemployment.
The larger your deposit, the lower your overall mortgage amount. This not only reduces the lender’s risk but also results in smaller monthly repayments for you. A smaller mortgage makes homeownership more affordable and provides greater financial security.
Planning for Moving Costs
It’s important to budget for all the costs involved in moving home. Buyers may be liable for stamp duty, as well as solicitor and surveyor fees. The cost of physically moving from one home to another, furnishing the new property, and equipping it with essentials will depend on a variety of factors.
Additionally, it’s wise to set aside funds for unforeseen expenses. These could include issues with the property that only become apparent after moving in. While these aren’t strictly home-buying costs, new homeowners often need to purchase household items as needed, so having a buffer can ease this transition.
Take the First Step with Us
Navigating the property ladder doesn’t have to be overwhelming. Our expert advisors are here to simplify the process, providing you with personalised advice and support every step of the way. From understanding your borrowing capacity to planning for additional costs, we’ll ensure you are fully prepared to achieve your homeownership goals.
Get in touch with us today to learn more about how we can help you secure the home of your dreams.
Getting onto the property ladder can be a challenging task. Many people seek advice from friends and family, but this advice is often conflicting, which can make the process even more confusing. That’s why it’s best to consult our professional advisors. We’ll provide clear, accurate guidance tailored to your circumstances, assisting you through the entire process—from the initial contact to determining how much you can borrow and understanding a full breakdown of costs.
The Benefits of a Larger Deposit
We recommend saving for the largest deposit you can manage. A larger deposit is crucial because it serves as the lender’s protection. When deciding whether to approve a mortgage application, lenders consider potential challenges borrowers might face during the term of the mortgage. These challenges may include temporary declines in property values or periods of unemployment.
The larger your deposit, the lower your overall mortgage amount. This not only reduces the lender’s risk but also results in smaller monthly repayments for you. A smaller mortgage makes homeownership more affordable and provides greater financial security.
Planning for Moving Costs
It’s important to budget for all the costs involved in moving home. Buyers may be liable for stamp duty, as well as solicitor and surveyor fees. The cost of physically moving from one home to another, furnishing the new property, and equipping it with essentials will depend on a variety of factors.
Additionally, it’s wise to set aside funds for unforeseen expenses. These could include issues with the property that only become apparent after moving in. While these aren’t strictly home-buying costs, new homeowners often need to purchase household items as needed, so having a buffer can ease this transition.
Take the First Step with Us
Navigating the property ladder doesn’t have to be overwhelming. Our expert advisors are here to simplify the process, providing you with personalised advice and support every step of the way. From understanding your borrowing capacity to planning for additional costs, we’ll ensure you are fully prepared to achieve your homeownership goals.
Get in touch with us today to learn more about how we can help you secure the home of your dreams.
