Getting onto the property ladder can be a massive challenge, although it is a key goal for most people it is not the easiest thing to do. With our help you will know exactly what you have to do to be able to get your first property. Our first tip for you to have the best chance of getting a property of your own is to get as big of a deposit as possible this is becuase a deposit is the lenders protection. When deciding whether or not to accept a mortgage application, lenders have to think about the challenges potencial borrowers may encounter during the life of the mortgage. A bigger deposit means that you won’t have to repay as much and that means your monthly repayments will be less.
It is also important to set aside some money for moving costs. It’s important to budget for all the costs involved in moving home. Buyers may be liable for stamp duty and are willing to pay solicitor’s and surveyor’s fees. The actual cost of moving from A to B and of furnishing and equipping a new home will depend on a variety of factors. It can, however, be useful to have a 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.
It is also good to check if there are any good government schemes to help you purchase more of the property so you can have a smaller mortgage. Your family can also help if you might be struggling to meet the affordability criteria, as they might be willing to act as mortgage guarantors for younger people.
If you are interested in our advise and services please don’t hesitate to get in contact with us.