Buying a house is one of the most important purchases you will make, and buying a home for the first time will be an even more daunting prospect. Add to this the vast array of mortgage products available from a wide range of sources and you could be left with a high-stress, confusing decision. Speak to us about your situation and we can guide you through the process from start to finish.
For example here some things worth considering:
- Ensure that you are realistic when working out exactly how much you can afford to spend on your new house. You should ensure the intended mortgage is affordable (by doing a budget calculation). Even a newly built house will require some sort of furnishings, whereas older properties may require extensive work, such as re-flooring, tiling or renewing the wiring. Make sure that you factor in all these likely expenses, in addition to the purchase price, and other fees such as conveyancing and stamp duty.
- Remember to budget for expenses such as council tax, gas and electricity bills, boiler servicing, and other home repairs or ground rent and service charges if you buy a leasehold property.
- Even if you do not have children, remember that property in the catchment area of good local schools will always be much easier to sell on. However, this may also be reflected in a higher purchase price.
- Always consider how your transport arrangements will change in your new house. If you have a car, your insurance premium may increase dramatically if you move from a town with relatively low crime into a city centre with higher crime rates or if you move from your parents' house with a locked garage to a smaller terraced house with on-street parking.
- Take into account the length of your commute, consider the availability of public transport services, making sure you find out local bus routes, the frequency of train services from your nearest station.
Your property may be repossessed if you do not keep up repayments on your mortgage.
For conveyancing, we act as introducers
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