Top Tips for buying a property
Buying a property is one of the biggest purchases you will make in your lifetime, therefore getting it right is crucial. Our Guild agents are here to help you through the whole process, and we have devised a house-buying guide talking you through some of the most important things to consider when buying your new home.
This guide is split up into three easy readable sections which include information on the real costs of buying, offer advice and a viewing checklist which could make or break your deal.
We’ve made every effort to ensure these tips are as accurate as possible; however, this does not constitute as legal advice tailored to your circumstances. Act on this at your own risk.
SECTION ONE: MORTGAGES & FINANCES
Boosting your credit score
It is important to always check your credit score before applying for a mortgage. Simple credit mistakes can cause rejection to your mortgage application - and let's face it, no one likes rejection! There are a number of things you can do to help boost your credit score up to a good place so that you could secure yourself a mortgage. Make sure all active accounts are registered to your current/right address, if something does not align up in your credit history then this could have a lasting effect on your credit score.
Securing a mortgage
First of all, take a look at our mortgage calculator to estimate your repayment plan. Once you understand how much you will need to borrow, think about ways to raise the money. Read our tips for securing a mortgage here.
The real cost of buying
Buying a home isn’t just about paying for the mortgage, you are almost always going to pay more than you initially think. It is important to think about all the other costs, so you can adjust your budget accordingly. Think about factoring in mortgage arrangement fees, valuation and legal fees, stamp duty and survey costs. Speak to our Guild agents for more information or view our budgeting tips here.
First-time buyer finances
Buying a home can be a daunting process therefore when it’s your first time buying a home it is important to know how to budget and what help you can receive. Firstly, think about what you can actually afford, then if you realise you don’t have enough it’s time to start looking for extra funding. Help to Buy is a set of schemes put in place to give you a little helping hand. The Help to Buy ISA pays first-time buyers a government bonus which can boost your savings.. Take a look at our first-time buyer finance page for more help.