There are many things to consider when planning to buy your first home.
Our most important tip is that you speak with a mortgage adviser. Any checklist, such as the one below, is unlikely to be exhaustive or be tailored to your particular circumstances. If you speak with one of our advisers, they will spend as much time as you need in order for you to understand your situation and your options. They will discuss the process for buying your first home and what your borrowing and mortgage options might be. Once an option that is appropriate for your circumstances is identified, they will do all the work necessary with the mortgage lender to secure your mortgage offer. You will not have spend time liaising with the lender – our advisors will do this on your behalf. Furthermore, our advisors will be available to help you with all other parts of the house buying process – from advising you on your initial home viewings and how to work effectively with estate agents through to advice on the legal process of buying a home and process of picking a solicitor. This support and service will be provided to you at zero cost to yourself, which is a further reason to get in touch to start discussing your individual circumstances.
The checklist (below) of things that you will need to consider in terms of buying your home is not exhaustive but covers the main parts of the process of buying your new home. If you speak to one of our advisors, they will be able to discuss each aspect of buying a new home with you in detail and ensure that you understand all parts of the process.
| What you need to consider | How our advisors can help |
| What deposit do you have available? | They will discuss with you what deposit you have and whether it is sufficient for your plans. They will be able to talk you through options to increase the size of your deposit and schemes that are available from some lenders that are designed to help applicants to secure the deposit that they require. |
| How much you can afford to borrow? | Our advisors will be able to advise you on what you can borrow and which lenders will, for example, lend you the most money or lend you what you need at the lowest available interest rate. They will be able to advise you on particular schemes that some lenders offer in order to increase the borrowing amount available. They will be able to discuss which aspects of your finances may increase how much you can borrow, bonus payments, for example or which may reduce how much you can borrow, credit commitments, for example. |
| How to find a property and make an offer which is accepted by the seller? | Our advisors will be able to advise you on what you can do to be in a good position to have any offer that you make on a property accepted by the seller of the property, how to make an offer and what estate agents might be looking for from you during the process of making an offer on a property and buying your home. |
| What documents do you need? | Our advisors will be able to advise you on all the documents that you will need to have available during the mortgage application process. |
| How to find a solicitor? | Our advisors will be able to advise you on how to secure the services of a solicitor who will act for you during the purchase of your property and what role they will play during the process of purchasing your new home. Our advisors will help coordinate the communication that will need to take place between your solicitor and your mortgage lender. |
| How to find a surveyor? | Most home buyers will undertake a survey of that property to ensure that it is in a physical condition that meets their expectations. Our advisors can advise on how to secure the services of a surveyor, the different types of survey available and which type may be suitable for the home that you wish to buy. |
| What are your insurance options? | You will be required by any mortgage lender to secure buildings insurance for your new home. There are, however, a range of other insurance options that it will be important for you to consider. These are designed to ensure that unfortunate life events, such as a long-term sickness, do not lead to a situation in which you can no longer afford to pay your mortgage. Our advisors will be able to advise you as to how you can protect yourself and your loved ones with insurance, help you identify what the most appropriate options are for your circumstances and work with the insurance providers to help put your policies in place. |
Remember, our most important tip is that you speak with a mortgage advisor. Please get in touch with us and our advisors will be able to discuss the above checklist with you in a way that is personal to your particular circumstances. If you chose to get in touch, we will be able to support you throughout your home buying journey.
