Taking the stress out of buying your first home

Buying your first home is one of life’s great achievements but it can be a stressful experience. With finding the right house, trying to get the best price and legal wranglings it’s helpful to have someone experienced to talk you through the process and help you make informed decisions. That’s where we step in. You can rely on our experience to ensure that whatever happens with the househunting and legalities we have the funds in place to buy your new home.

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The first step is to contact us and find out how much you can borrow. It’s tempting to start by looking at houses but it’s best to get an idea of your price range before you do this. We will search the whole of market to ensure you get the most suitable deal. With this information you can narrow your search and increase the likelihood of finding the right home for you. In the meantime we’ve outlined some background information on mortgages for first time buyers which we hope you’ll find useful.

What other costs do you need to be aware of?

It is also worth remembering the additional costs payable on top of your deposit and mortgage that you will be expected to pay. As a first time buyer, you get a discount (relief) that means you pay less or no tax if the purchase price is £500,000 or less and you complete the purchase after 22.11.2017. You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000 – if the purchase price is above £500,000 then normal stamp duty rules would apply. Plus you will have to pay for the valuation and possibly a survey of the property along with solicitor’s fees. You may also have fees to pay to the lender for your mortgage. These could be an arrangement fee and/or booking fee. Contact us to find out how much these fees may be.