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UK first time buyers on the rise

UK first time buyers on the rise

UK first time buyers on the rise

According to a report, “around 126,000 people took their first step on the property ladder in 2012, showing a 12 per cent year-on-year increase and making up two fifths of all house purchase loans,” which has been helped by improvements in affordability.

As first-time homebuyers in Britain reached a five-year high in 2012, it’s safe to say there is an increasingly large interest in securing a step onto the property ladder. If you’re a first time buyer looking to purchase a property this year, you’ll be pleased to know that through reliable independent mortgage advice and plenty of help along the way, you’ll be one step further to the home of your dreams.

Why you should feel assured, (not scared!) when buying your first home

Although buying a property can seem like a really daunting process, as long as you’ve got plenty of mortgage advice and gained sufficient information about the property market and the area you’re looking to move to, it can also be an enjoyable process. As the number of first time buyers is on the rise, it’s clear to see that people are interested in securing the property of their dreams and have done so by sourcing the right advice.

As a first-time buyer, where do I start?

Once you understand a bit about mortgages and the product that suits your needs, the next stage of the home-buying process is to work out what you can really afford. Set a budget, bearing in mind mortgage payments, council tax, buildings and contents insurance and utility bills.

Once affirming your budget, it’s time to work out how much you can borrow. How much you can borrow depends on your personal circumstances; Mosaic Mortgages, a provider of first time buyer mortgages and more, can help determine how much you can borrow. Simply contact us for more information.

Once you’ve completed all the finance work, you’ll be ready to start searching for that perfect property!

The author, Shaun Bielby has over 25 years experience in financial services and is a specialist mortgage and protection advisor with Mosaic Mortgages who are mortgage brokers that give independent mortgage advice to first time buyers, borrowers with an adverse or bad credit mortgage history or those looking to invest in buy to let.