First Time Buyer
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Taking the first steps
Taking the first step onto the property ladder can be daunting. At Emerald Finance we’ll walk you through the process and get the best mortgage deal to meet your circumstances.
Here are some handy hints for you:
Save save save! The bigger the deposit, the wider the choice when it comes to mortgage options. You will need at least 5% deposit but increasing this gives you access to better mortgage rates.
Pay off your debts if you can. Being in debt won’t stop you borrowing but it will reduce the amount you can borrow. If you reduce your outgoings before your mortgage starts, you will have extra money to buy those lovely new things for your first home!
Check your credit score on Experian and Equifax. Anything less than perfect can affect borrowing so make sure you are paying your debts on time and ensure you are on the voters roll at your current address.
Work out a budget to include your future bills and factor in insurances for protection your home. If you need help with this, we can assist!
Speak to Emerald Finance for a no obligation financial ‘heads up’ to find out how much you can borrow and obtain a mortgage decision in principle. This will put you in a more advantageous position with estate agents when viewing property.