Land Agent and Property Development CompanyLand Agent and Property Development CompanyLand Agent and Property Development CompanyLand Agent and Property Development Company
  • Home
  • About Us
    • About CPG
    • Our Service Guarantees
    • Creative Property’s Covid-19 Policy
  • Our Services
    • Land Owners
    • Property Owners
    • Property Professionals
    • Property Consultancy
  • Acquisitions
  • Investors
    • Investing with CPG
  • CPG Blog
  • Contact Us

Great Tips For First Time Buyers To Get On The Property Ladder

    Home Buying and Owning Property Great Tips For First Time Buyers To Get On The Property Ladder
    NextPrevious

    Great Tips For First Time Buyers To Get On The Property Ladder

    By Harvey Raybould | Buying and Owning Property | 0 comment | 6 January, 2018 | 0

    UK property ladderIt can be really tough these days for first time buyers to get a foot on the property ladder. The Chancellor is trying to help by abolishing stamp duty for properties under a certain value. But you will need more than this. You need to keep your motivation going so that you can achieve your dream of owning your own home.

    Buying your first home is a really exciting prospect. You need to keep your head and follow the tips below and you will get there. Treat it as a process and bide your time and you will achieve your dreams.

    Get Saving for that Deposit

    A lot of potential first time buyers will find this one of the biggest obstacles to owning their own home. You need to have a plan to save the money that you need in the fastest possible time.

    A lot of first time buyers underestimate just how much money they will need for a deposit and other expenses. The average amount required is around £7,590. So take a good look at your financial situation and start to save as much money as you can every month.

    Examine your Spending

    Examine everything that you are spending at the moment. Do you really need those expensive coffees every morning when you go to work? And what about that gym membership you are still paying for but not attending the gym?

    If you have a partner then sit down with them and monitor all expenses. Owning your own home is one of the most important events in your life so be prepared to make cutbacks where necessary. Don’t let frivolous spending stop you from getting your foot on the property ladder.

    What is your Borrowing Amount?

    So you have started saving for your deposit. Do you know how much you will need to borrow? There are affordability calculators available online and you should use them to work everything out.

    Is your Credit Score in order?

    All mortgage lenders will examine your credit report to ensure that you are credit worthy. So before this happens you need to check your credit report to check that everything is in order. There is a lot of critical information on your credit report and you need to ensure that it is all accurate and up to date.

    If you have a good credit report then you will be accepted for a mortgage and the rate of interest will be in your favour as well. If you have any other outstanding debts then create a plan to pay these off. Be sure that you are not late with any of your payments as lenders will view this very negatively.

    Make sure you find the right Mortgage

    Don’t just go for the first mortgage offer that you see. There are a lot of lenders out there and the market is very competitive. Some mortgage lenders specialise in first time buyers and have some very competitive packages available.

    first time buyers and the UK property ladder, tips for first time buyers to own their first property

    Leave a Comment

    Your email address will not be published. Required fields are marked *

    NextPrevious

    Search


    UK Property Blog

    • Advice For Landlords
    • Buying and Owning Property
    • Buying and Selling Land
    • Commercial Property Updates
    • Design and Renovation Tips
    • Kent: Articles and Updates
    • Property Investment
    • Renting Property in the UK
    • Selling Residential Property
    • UK Property Market News

    FREE Property Investment Guide


    OUR MEMBERSHIPS…

    Land Agent and Property Development

    Registered in England and Wales No: 09252187

    OUR LATEST NEWS…

    • Kent villages that are good for London commuters

      Kent To London: The Best Kent Commuter Towns and Villages [2021]

      I think you will agree with me when I say: London’s house

      9 April, 2021
    • 10 things that sell houses

      Sell Your House Fast – These 10 Things Can Help

      Let’s Be Honest. It’s not always easy to sell your house fast

      9 April, 2021

    OUR CONTACT DETAILS…

    Creative Property Group
    Letraset Building, Wotton Road, Ashford, Kent, TN23 6LN

    Phone Number
    0800 488 0027

    Email Address
    [email protected]

    Click here for our Covid-19 Policy

    © 2021 Creative Development Services Limited | Land Agent and Property Development Company | Privacy Policy | Terms and Conditions
    • Home
    • About Us
      • About CPG
      • Our Service Guarantees
      • Creative Property’s Covid-19 Policy
    • Our Services
      • Land Owners
      • Property Owners
      • Property Professionals
      • Property Consultancy
    • Acquisitions
    • Investors
      • Investing with CPG
    • CPG Blog
    • Contact Us
    Land Agent and Property Development Company