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.
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.
For example, you will have to pay stamp duty, which is (from Jan 1st 2010) 0% up to £125,000 – 2% on the next £125,000 – 5% on the next £675,000 – 10% on the next £575,000 & 12% on the rest (above 1.5 million).
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.