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Archive for January, 2014

Tip’s for 1st Time Buyers Getting A Morgage

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  1. Sort out your paperwork. Self employed people will be treated like something the cat dragged in. Typically you will need to provide more paperwork. Many will require you to have at least 2 years worth of company accounts or Tax returns ( few my request 3 years ) to show the lender to stand any chance of getting a good rate.
  2. Speak to several good independent mortgage brokers. This will give you a very good idea of what is available. Have all your financial documents with you. This will include contracts of employment, bank statements & pay slips. This will help determine what you can afford.
  3. Clean up your credit score. Perform a credit check simple steps, such as paying your bills on time & making more than the minimum payment on your existing credit cards. Will improve your score. Also, by not registering on the electoral roll can have a negative impact on getting a mortgage. Although you don’t need to be on the electoral registar to apply.
  4. Get a mortgage in principle agreed. It’s a bit like the chicken & the egg. You can’t buy a house without a mortgage, but you can’t get a mortgage without a house. Many end up losing there dream home simply by not having this in place. By having it means you can move quickly on to the process of purchasing.
  5.   Get a credit card- This will allow you to build a credit history. Use it & repay in full each month. This will demonstrate you can manage credit responsibly.
  6. Don’t use your overdraft. By not using your overdraft on your current account for at least 3 months will show your in control of your finances.
  7. Don’t apply for every mortgage. Lots of applications over a short space of time will impact your credit score. As each application will leave a mark on your rating.

A Few Tip’s For First Time Buyer’s

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shutterstock_1224655181) Take some pictures

Always ask before getting your camera out first. This will allow you to refer back to show friends & family.

2) Ask the right questions

Why is the owner selling ?

How long has the property been on the market ?

What are the neighbours like ?

What’s the minimum price the seller will except ?

Have there been any offers so far ?

This list in not extensive, you should be prepared & take a list with you on viewings.

3) When to view a property  

Once a property is on your short list. It’s worth having a look at different times of the day. This can highlight Anti-social behaviour & parking issues in the area.

4) What fixtures & fittings are included in the sale

Make sure both parties agree on what will & won’t remain in the property. Get it in writing if possible to avoid disagreements afterwards.

5) What are the bills like ?

Put together a budget. Council tax & utility bills should not be overlooked.

Moving into your own home will be a exciting time – but also a expensive one !

6) Get your free removal quote

TH Removals offer a free removals quote. Simply fill in our quote form

 
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