You will be considered a First Time Buyer if you and the person that you may be buying with are purchasing a property for the first time. We recommend speaking to an Independent Mortgage advisor as they will calculate your affordability and source you the best mortgage deal on the market by exploring all lenders.
Ensure that you are free from any outstanding debts such as store cards and that any loan repayments are up to date as this will affect your credit rating and lenders may not want to offer you a mortgage.
Speak to local Estate Agents in the area that you are hoping to buy in and register your details so that you can be contacted straight away if anything new comes to market within your criteria.
It is advisable to view properties and get a feel for what you are looking for. It can be completely different viewing a house in person compared to online. Make a check list of your essential criteria and compare. It is a sellers’ market so you may need to expect to make some compromises. Ask family or friends for a second opinion and it would be recommended to book a second viewing.
As a first time buyer consider if the property would be suitable if your circumstances were to change further down the line, for example could it accommodate the possible addition of a child/family member staying or does it allow the space to work from home.
Once you have found a property place an offer with the estate agent factoring solicitors and survey costs in your budget.
For mortgage advice please give our Ballyclare office a call Nest Mortgages – cheryl@nestmortgagesni.com or 02893 438090.
