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Friday 30 October 2020
Friday 30 October 2020
Friday 30 October 2020
Friday 30 October 2020
Getting on the property ladder is a major milestone and a key goal for many people. At Barrett Mortgages, we understand the challenges first-time buyers face and are here to make the process smoother. Our expert advisors provide personalised support, guiding you from the initial contact through to becoming a desirable buyer for estate agents and securing the best mortgage for your needs.
Our Essential Tips for First-Time Buyers
1. Save a Larger Deposit
Why It’s Important: A bigger deposit acts as a safeguard for lenders and improves your chances of mortgage approval. It demonstrates financial responsibility and reduces the risk for the lender.
Benefits:
Smaller mortgage requirement.
Lower monthly repayments.
Access to better mortgage rates and terms.
2. Budget for Moving Costs
Common Expenses:
Stamp Duty: First-time buyers may benefit from exemptions, but check your eligibility.
Solicitor and Surveyor Fees: Legal and inspection costs to ensure the property is in good condition.
Moving Costs: Transportation, professional movers, and packing supplies.
Furnishing and Setup Costs: Items such as furniture, appliances, and home improvements.
Pro Tip: Set aside an emergency fund for unforeseen expenses that may arise during the moving process.
3. Get Your Finances in Order
Before applying for a mortgage, ensure your financial profile is attractive to lenders:
Save Regularly: Show consistent savings habits by setting aside money monthly.
Reduce Outgoings: Minimise unnecessary spending to increase disposable income.
Manage Debt: Lower outstanding debts or aim to be debt-free, reducing your overall financial obligations.
Maintain a Clean Credit Rating: Pay bills on time, avoid defaults, and check your credit score regularly.
Secure Regular Income: Stable employment reassures lenders of your ability to make repayments.
4. Plan Ahead and Seek Expert Advice
Understand Mortgage Costs: Calculate your monthly budget and determine what you can afford comfortably.
Research Government Schemes: Check for first-time buyer incentives, such as the Help to Buy Scheme or shared ownership options.
Seek Professional Guidance: Working with an experienced mortgage advisor can simplify the process and provide access to exclusive deals.
Why Choose Barrett Mortgages?
Personalised Support: Tailored advice from our expert advisors who understand the needs of first-time buyers.
Comprehensive Service: From initial enquiry to completion, we’re with you every step of the way.
Market Expertise: We help you find the best mortgage rates and products, ensuring you have the ideal solution for your circumstances.
Get in Touch with Us Today
Let Barrett Mortgages take the stress out of buying your first home. Contact our team for more tailored tips and professional mortgage advice.
📞 Call us: 01202 733809
📧 Email us: enquiries@barrettmortgages.com
Start your homeownership journey today with confidence – we’re here to help!
Getting on the property ladder is a major milestone and a key goal for many people. At Barrett Mortgages, we understand the challenges first-time buyers face and are here to make the process smoother. Our expert advisors provide personalised support, guiding you from the initial contact through to becoming a desirable buyer for estate agents and securing the best mortgage for your needs.
Our Essential Tips for First-Time Buyers
1. Save a Larger Deposit
Why It’s Important: A bigger deposit acts as a safeguard for lenders and improves your chances of mortgage approval. It demonstrates financial responsibility and reduces the risk for the lender.
Benefits:
Smaller mortgage requirement.
Lower monthly repayments.
Access to better mortgage rates and terms.
2. Budget for Moving Costs
Common Expenses:
Stamp Duty: First-time buyers may benefit from exemptions, but check your eligibility.
Solicitor and Surveyor Fees: Legal and inspection costs to ensure the property is in good condition.
Moving Costs: Transportation, professional movers, and packing supplies.
Furnishing and Setup Costs: Items such as furniture, appliances, and home improvements.
Pro Tip: Set aside an emergency fund for unforeseen expenses that may arise during the moving process.
3. Get Your Finances in Order
Before applying for a mortgage, ensure your financial profile is attractive to lenders:
Save Regularly: Show consistent savings habits by setting aside money monthly.
Reduce Outgoings: Minimise unnecessary spending to increase disposable income.
Manage Debt: Lower outstanding debts or aim to be debt-free, reducing your overall financial obligations.
Maintain a Clean Credit Rating: Pay bills on time, avoid defaults, and check your credit score regularly.
Secure Regular Income: Stable employment reassures lenders of your ability to make repayments.
4. Plan Ahead and Seek Expert Advice
Understand Mortgage Costs: Calculate your monthly budget and determine what you can afford comfortably.
Research Government Schemes: Check for first-time buyer incentives, such as the Help to Buy Scheme or shared ownership options.
Seek Professional Guidance: Working with an experienced mortgage advisor can simplify the process and provide access to exclusive deals.
Why Choose Barrett Mortgages?
Personalised Support: Tailored advice from our expert advisors who understand the needs of first-time buyers.
Comprehensive Service: From initial enquiry to completion, we’re with you every step of the way.
Market Expertise: We help you find the best mortgage rates and products, ensuring you have the ideal solution for your circumstances.
Get in Touch with Us Today
Let Barrett Mortgages take the stress out of buying your first home. Contact our team for more tailored tips and professional mortgage advice.
📞 Call us: 01202 733809
📧 Email us: enquiries@barrettmortgages.com
Start your homeownership journey today with confidence – we’re here to help!
