Beat The Bank: 
Mortgage Giude

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Ashlee Reid

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In today's housing market, first-time buyers face more obstacles than their predecessors. However, there are incentives available including the Help to Buy and Right to buy programs that can make a big difference in purchasing your new home. The following is an overview of some financing options for those seeking a place on the property ladder 

One choice first time buyers have to make is between buying a newly built property or an older one. Which should you choose? It really depends on where you intend to live and what's available there, but generally speaking if want access the Help To Buy scheme for example then we recommend focusing exclusively on new properties because of this reason along with other benefits that come from investing in homes recently constructed

One of the benefits of older properties for first-time buyers is that there are a lot more options to choose from. It's easier to find flats or houses near where you want live, whether it’s in town or outside city limits. Although newer builds were initially shelved out after Covid pandemic hit due lack of demand and funding, these have increased back up quickly as people reevaluate their risk tolerance level with regards to health crisis such as this one.

A person's house hunt can be stressful if they don't know the right steps to take, but this article has some great tips for people looking to buy a property. It talks about how you need an amount of money before buying (the deposit), and then it discusses things like viewing houses online or getting advice from an estate agent.

For those who have poor credit history, it can be hard to get a mortgage. However if you show lenders that your financial situation has improved and make an effort to pay off debts on time, they will often consider your application.

Though banks are stricter with their rules than other types of companies, there is still hope for applicants as long as the lender feels like you're worth taking a chance on!

An AIP, or approval in principle, is a mortgage application that can be done via a broker within 24 hours. It works by entering your details and getting an estimate of how much you might borrow if everything goes well with the final stages of the loan process.

There are a lot of different types of mortgages available nowadays and it’s critical to find one that suits your needs. Most mortgages fall into two categories, repayment or interest-only, which run over terms lasting 25 years on average. This is undoubtedly the biggest financial outlay many in our lifetimes will be involved with so you must make sure you choose carefully!

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