Topic: First-time buyer

Tips for first-time buyers in 2021

Make this the year you become a homeowner

If you’re aiming to buy your first home this year, there are a few challenges facing you:

  • The availability of high loan-to-value (LTV) mortgages is currently very low, meaning you may need a larger deposit than you might have previously
  • If like many people, you’ve been furloughed, you probably won’t be able to borrow as much as you could have when you were working normally
  • Mortgage providers’ affordability checks are going to be even more thorough than usual in this uncertain economic climate.

So, for the best chance of securing a mortgage and buying a home, here are some of our top tips for the year ahead.

Help to Buy in 2021

Changes to the scheme for first-time buyers

The government’s Help to Buy scheme was launched in 2013 to offer people financial help towards buying a newly built home in England. Since it was launched, over 270,000 people have used the scheme to buy a home, of which 82% were first-time buyers.

Five homebuying mistakes

Pitfalls that first-time buyers should look out for

One of the biggest financial commitments you’ll make in your lifetime is buying your first home. If you’re nervous about making a mistake with this major purchase, here’s how to avoid some of the most common pitfalls for first-time buyers.

First-time buyers: How to make an offer for your dream home

7 steps to give you the best chance of having your offer accepted

Making your first offer on a property can be a nerve-wracking experience. If you go too low, you could miss out on the home of your dreams. If you go too high, you could take on more debt than you need to. To help you decide how much to offer and give you the best chance of having your offer accepted, here are some tips.

Conveyancing terms explained

Understanding the jargon of homebuying

In the process of buying a property, you may encounter technical terms that you’re unfamiliar with. We’ve translated some of the common phrases that come up in conveyancing into everyday language, so that you can easily understand how they affect you.

Viewing empty properties

A guide for homebuyers

Since most home sales take place while the current owners are still living there, buyers can be a little wary of viewing empty properties. There’s really no reason for this trepidation if you’ve considered the advantages and disadvantages in advance and know what to expect.

Could moving home save you money?

Five strategies for saving when you buy a home

With estate agent’s fees, mortgage fees, surveys fees and conveyancing fees, home buying can be an expensive activity. But in certain cases, moving home could save you money. Here are some examples.

ISAs for homebuyers

Receive a free 25% savings bonus towards your first home

Saving a deposit to buy a home can take a long time, but there are ways you can speed up the process. One of those is to use an Individual Savings Account (ISA) that’s designed for homebuyers so that you can receive a free 25% bonus from the government.

Homebuyer surveys

Which is the best type of property survey for you?

After you’ve made an offer on your new property, but before you’ve signed the contracts, it is usually advisable to appoint a qualified surveyor to look at it and identify any major repairs or alterations needed. There are various survey options available with different levels of detail.