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Buying A House: Where to Begin?

Before I get into the post, I wanted to give you some pre-advise as to what to do before you get the the stage of deciding you want a house. Whether that be deciding whether you want to own your home or rent out, the first thing to think about is saving.

Putting money away every month will help with producing money for a deposit as well as providing you with money for legal costs and anything else you may want for the house. Saving can take a lot of time when you first start, but trust me you need all the money you can save as it will make things a lot easier when the time comes. 
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From here on out I will be talking about buying your first home when you have some savings behind you, or if you have money from your parents/loved ones. 

Buying your first home isn't as straight forward as it seems, looking at houses and getting a mortgage isn't exactly how you do it. The first big question that me and my partner had was where to start. No one really tells you where to look first, do you look at mortgages or houses first, do you need a mortgage adviser, do you stick with the bank your with? All of the questions seem to come to mind at once when you start thinking about getting on the property ladder.

First thing I think that would be great to have is a mortgage adviser. These people know all the info you need to know when looking for your first home. Most mortgage advisers are free as they get there commission from the bank that you take out the mortgage from. So when looking make sure you check that they don't charge as you don't want to be out of pocket straight away. We went with a family friend and highly recommend the companies services if you are looking for a great mortgage adviser. They were able to show us some figures of what we would likely be able to get for a mortgage and how much the monthly payments would be. This is great when you aren't entirely sure what you can borrow and what price houses to look at. One thing that was said to use is don't apply for mortgage in principles with lenders as this puts a mark against you, which limits the amount a mortgage adviser can find you. 

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During your first talk with your mortgage adviser, I would highly recommend you write everything down and ask as many questions as you can think of. This saves on time having to keep contacting the adviser and will give you peace of mind moving forward. For me it was largely asking about how the steps to getting a house go and what we need to think about getting and paying for when buying the property. We also ask questions about student finance as we are always told it may impact your eligibility of getting a property. Thankfully we were told it doesn't really impact the decision at the end of the day, but you still have to declare it. 

Our meeting with our mortgage adviser was about 2 and a half hours long, but we got all the information we needed to progress through. But, by spending that time with your mortgage adviser at first can really help push you forward as we have found we only needed to contact ours via email after that meeting as we had all the information needed to get us through. 

So to start your journey off definitely seek out a mortgage adviser, if your in the south of the UK I would highly recommend ours here. They are really knowledgeable so take advantage and ask loads of questions and from there you can begin your property search.

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