In the recent past, the property market has been moving very fast leading to significant increases in property prices in most areas.

This has made it increasingly difficult for many people to afford to buy a home.

First time buyers are particularly affected, because although they may be able to raise a mortgage, this will often fall short of the cost of the property they want to buy. 

However, it is still possible for first time buyers to get on the property ladder and there are some definite benefits to being a first time buyer that are worth noting:-

You don't have a house to sell so you are in a strong position to buy and can generally move quicker than someone who has to sell their property.

Because you are not in a chain, there is less risk of the sale falling down.

There is a lot of competition between lenders of first time mortgages.

The most important thing is affordability you must only borrow what you can afford to pay back. Your property will be at risk if you can't keep up with the mortgage payments.

Our advice is for you to find out how much you can borrow by getting a 'mortgage in principle' figure from us before you start looking at property. This will protect you from possible disappointment at a later stage and will put you in a strong buying position - you will know what you can afford when discussing price with the seller.

 

• Why not call us on 01223 329666 to discuss your requirements and request a quotation.