TOP 5 TIPS FOR A FIRST TIME BUYER IN 2020/21
Now more than ever times are tough for first time buyers. So, to try and help where we can, we have come up with our top five tips for a first-time buyer. Read the full article below and if you have questions remember you can call us on 01302 760322.
1: SPEAK TO A MORTGAGE ADVISOR
Try and get as much advice as possible, and the best people to speak to are mortgage advisors. Banks & Building Societies have changed the lending criteria a lot due to Covid-19. So make sure your mortgage in principle is up to date and you have the best product available to you. If you need any mortgage advise you can call 01302 760322 and ask to speak to a mortgage advisor.
2: SAVE, SAVE, SAVE
Now more than ever you need to make sure you are saving every penny to add to your deposit, as with some banks 5% and 10% deposit mortgages are unavailable. The higher your deposit amount the more likely it is a seller will run with your offer, as you would be seen as a more “secure” buyer in these testing times.
So remember SAVE, SAVE, SAVE.
3: SCOPE OUT THE MARKET
Before you go viewing properties make sure you have done all your research. Watch video tours where possible, study the photos and floorplans, google the area and if you have the time drive around and see some areas for yourself. You can never do too much research on a property.
4: REGISTER TO VOTE
While this might not seem like a big deal it will affect your chances of getting a mortgage so make sure you register. Every little helps with getting a mortgage so make sure you’re doing everything that you can.
5: BE PATIENT
The right property is out there so just keep patient and keep looking for the right one. Don’t go buying the first property you view. Look at a wide range of properties in all different areas, you never know what you might find.
Hopefully this will help make it more exciting finding, funding and buying your very first house. If you need any extra information on anything mentioned please call 01302 760322 or email doncaster@hortonknights.co.uk
