fbpx

2 Church Walk
Newark
NG24 1JS

facebook twitterlinkedin
Contact us today:
01636 674455
info@bbmortgages.co.uk

5 Signs it’s Time to Buy Your First Home

buy your first home

Buying your first home is a big decision and sometimes it can be scary to take the leap. So how do you know if you're ready and if it really is time to become a first time home buyer?

In this post we're sharing a few signs that could indicate that you're ready to jump into home ownership.

1) You're ready to put down roots

One of the advantages of renting is that you have more freedom to travel and to try different areas or even countries.

If you've found a place that you know you want to settle in, then buying a home could definitely be the right move for you.

2) You want more freedom to change your living space

Rental agreements come with restrictions in terms of decorating or remodelling but when you own your home, you can really add your own personality to it. If you're ready to turn your interior design dreams into reality then buying is the way to go.

3) You need more space to live in

Perhaps your family is growing - or maybe you just want more space to entertain or for your hobbies. Whatever the reason, if you're looking for a larger living area, then it might be time to purchase your first property.

Buying a Home?

Check out our Step by Step Guide...

4) You've got a healthy deposit saved

Before buying a home you need to save a deposit in order to get a mortgage. The more you're able to save, the cheaper the mortgage you'll have to pay each month, so the size of your deposit should definitely be a factor when you're deciding whether to buy.

The minimum deposit you'll generally need is 10% of the sale price - however, if you can save more than this, then this can help to reduce the mortgage rates that you'll be eligible for.

5) You have a good credit history

Your credit history is also an important part of getting a good mortgage rate. If you're considering buying your first home, then it's a great idea to check your credit report to see if anything needs improving before you apply for a mortgage.

A mortgage broker will be able to help advise you on how to get your credit history in tip top shape - and how to find the best mortgage to meet your personal circumstances.

Need to Improve your Credit Score?

We've written this handy blog post to help you...

So, what do you think? Are you ready to buy your first home? If so, we'd love to help you! If you'd like to book a free consultation with one of our expert advisers to chat about which mortgage will be best for you, then you can book your appointment here.

go back to all blogs

Contact us

Name (required)

Email (required)

Phone

Your Message

Opt out of our mailing list

Miss Knight

We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure working with you.  What is known to be a stressful time has been very smooth and I have yourselves to thank for this.


Miss Knight

2016-03-22T17:24:36+01:00

Miss Knight

We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure working with you.  What is known to be a stressful time has been very smooth and I have yourselves to thank for this.

Mr L

Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

2016-09-13T12:38:09+01:00
Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

Miss G

Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

2016-09-13T12:43:22+01:00
Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

Mr W

Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

2016-09-13T12:48:10+01:00
Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

Mr C

Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with sensible fees and interest rates.

2016-09-13T12:49:06+01:00
Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with sensible fees and interest rates.