Buying your first house can seem a daunting prospect, here are a few tips to keep you on the right track.

Trust is Important

Buying your first house and getting on the property ladder is a big-step for anyone.  As well as a massive financial commitment it can seem as if an endless amount of paperwork and bureaucracy lie ahead of you before you can get on with choosing those all-important cushions for the living room.

As a first time buyer it is unlikely that you will have huge amounts of money to throw around and the first thing that you will probably have to negotiate is a mortgage.

A mortgage is a large loan secured against the value of your home. Most people usually apply to banks and building societies for mortgages although in recent times large companies such as supermarket chains have started to offer competitive deals. Mortgages are paid off by the homeowner over a set period of time, usually 25 years. Different types of mortgages - such as offset mortgages where the balance of your savings is taken off the interest you pay on monthly repayments - can enable you to pay off your debt quicker.

The amount of money you can borrow from your mortgage lender depends on a variety of things including your income and credit history.

Once you have worked out what kind of mortgage arrangement is going to suit you then you can set about looking for a property. Going through your plans with a solicitor before you decide to put in an offer for a home is vital.

Of course picking the right home and area to live in is a subjective matter for you and your family but that should always be weighed up with your financial situation. Striking this balance can be difficult, but ultimately rewarding.  First time buyers should start by asking themselves these questions:

--Ideally where do I want to live? Town/city? Within walking/commuting distance of my place of work? What kind of schools are there if you are planning on raising a family?
--How much space do I need and how much can I realistically afford?

During the process of applying for a mortgage and securing your first property it is essential to consult a solicitor/conveyancer. Your solicitor will help with any legal, financial or, indeed, structural problems that may come up during the process. Are you a first time buyer? Give Blair Cadell a call today FREE on 0800515626 and we will help you achieve your goal.