First-Time Buyer? Help Is On Hand To Make That Move!
Buying your first home is certainly an exciting time in life.
Apartment or house? Your decision.
Scandinavian décor or traditional cottage style? Your decision.
Garden or no garden? Your decision.
Do you see what we mean? Buying your first home is all about making decisions.
But the most important one you will have to make comes well before the choice of home or décor.
‘What can I afford to buy?’ is the question we are most commonly asked by first-time buyers – particularly those, who are currently renting and concerned about the amount of money that they are wasting in rent.
If you are trying to work out at the moment exactly how much you could afford to spend on your first home, here are a few great first-time buyer options plus the monthly outgoings you would have to pay depending on which payment option you would choose.
Example 1
Estate Agent: Simon Brien Residential
Location: Park Avenue Heights
House Price: £125,000*
Option 1: Co-ownership £130 co-ownership + £222 mortgage = £352 per month
Option 2: 5% Deposit Post Office 3.06% £461 per month
Option 3: 10% Deposit Post Office 2.07% £376 per month
Example 2
Estate Agent: Colin Graham Residential
Location: Foxton Courts
House Price: £167,500*
Option 1: 5% Deposit Post Office 3.06% £617 per month
Option 2: 10% Deposit Post Office 2.07% £504 per month
Co-ownership only available up to £165,000
If you are currently renting and paying more than these monthly amounts, then it is definitely worth considering taking your first steps towards owning your home.
Make an appointment today with one of our mortgage specialists and let us help YOU take your first steps onto the property ladder.
*These figures are based on a two-year fixed deal on a 35-year term mortgage.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
