first time buyer mortgage

First time buyer mortgage

A first time buyer can find the buying process a stressful time.  Finding a property at the right price can prove to be confusing.  You may be put off by the initial asking price and feel that you must offer this in order to secure the house of your dreams.  However a few tips to remember that will aide the decision on what to offer

+ You should find out exactly how much you can borrow with a mortgage adviser before setting out to view houses.  This will ensure you have a budget in mind.

+ Once you have found a house within your budget, remember as a first time buyer you are in a strong position as you have no property to sell & therefore no ‘chain’ behind you.  This means you can move quickly if necessary.

+ Do some quick research before making an offer – a property that’s been on the market a long time is likely to be more open to offers below the stated price than one that’s just come on the market and had a lot of interest already.  The estate agent will be able to give you this information.

All in all, securing your first home may not be as stressful as you thought.  With a little planning ahead you should be able to secure the right first time buyer mortgage for you.  Using Mortgagebug to help with this will give you access to a wide range of lenders and take a lot of the stress out of the process.