Advice On Buying A House And Mortgage Deals For First Time Buyers

Buying a house can be a daunting prospect for a first time buyer but as long as you

do your research and seek advice from the professionals, there is no reason why it cant be a smooth and stress-free process. When it comes to buying a property for the first time, the best place to start is with a good bit of groundwork and if you your back into this part of the process, the rest will make much more sense and you will find decisions later on much easier and quicker to make.

Choose a few areas that you are interesting in buying in and have a look to see what the average prices are of properties which match your requirements. A two-bed apartment for example can vary hugely in value from one town, village or city to the next and even from one street to the next so it is worth really getting to grips with house prices in your preferred areas and if you find theyre higher than youd hoped, drive around nearby, up and coming areas and see what you think of these instead.

Take into account the upfront fees that are required when buying any property and dont just assume that the only financial thing youll need to organise is a mortgage. One-off initial costs associated with buying property include a deposit (often running into thousands as it is usually calculated as a percentage of the total value of the property), surveyors fees, Stamp Duty and removals charges. Unfortunately these are unavoidable in most cases and it is wise to seek professional advice from a whole of market mortgage broker who will be able to show you the whole picture in terms of financial outgoings.

Remember that you dont have to have found a house in order to organise a mortgage, sometimes it can be beneficial to secure a mortgage beforehand and put yourself in a strong position to negotiate when you find the house or flat that you want. Not all mortgage brokers offer this service so it is worth looking for one that does and seeing how they can help.

When it comes to mortgage deals, there are plenty out there and choosing the right one for you is one of the biggest parts of the process of buying a house. Make sure that you are aware of the difference between advice and information when it comes to mortgages; if you have been given or sent written information about mortgages then you have been given just that and not advice. Advice is defined as a broker sitting down with you, guiding you through the process and advising on the best mortgage deals for you based on your personal circumstances and budget.

by: Jamie Francis

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