Moving into your first home is one of those champagne moments in life, but getting there can be a confusing process.
As a first time buyer the property market, mortgages and everything between can become overwhelming. The most important factor is to establish your budget. When buying you need to understand that there are additional costs including solicitors fees, mortgage fees, survey costs and stamp duty. These costs can add thousands of pounds to your spend, so bear these in mind when establishing your budget.
Picking the right mortgage is easier said than done. It is advisable to speak to a broker as Expert advice is available on what type of mortgage is best suited for you, which will take into account your income and type of employment. If you are looking for a set monthly payment your broker may advise you to go for a fixed rate mortgage where each payment is the same over a period of 1,3,5 etc years. Always make sure you shop around though as different banks have different rates, it may even be worth looking on comparison websites.
If you think you have found the right property there is no problem in going back and having a second, third or fourth look to ensure you are making the right decision. You should also make a list of questions that you want to ask all parties involved. Remember there’s no such thing as a stupid question, so if you want to ask what time the street light comes on, go for it!
In the meantime I wish you all happy house hunting and please do not hesitate to contact us on 01923 776400 if you require further help.