Looking to fly the nest?
Getting on the property ladder can be difficult. What can you be doing NOW to help?
If you are thinking about getting on the property ladder, what should you do to put yourself in the best position?
Know your credit score
Lenders will decide how much money you can borrow using affordability criteria, and they'll use your credit profile to give them an idea of how you manage your personal finances. A higher score increases the likelihood you’ll be offered a mortgage. Your credit score is just one of the factors lenders use to make this decision. Your income and your Loan-To-Value (LTV) ratio - which compares how much you borrow with a mortgage loan, to how much you pay as a deposit – will also be considered, along with other affordability criteria.
Read our article What is my credit score? How will it impact me buying a house? How can I check or change it? to find our more.
Talk to a Mortgage advisor.
Whilst your bank should be able to help you with a mortgage, remember, they can only offer you their own mortgage products. We recommend talking to a mortgage broker who will be able to search the market for the best deal that suits you. If you need a mortgage you will need to find out how much you can borrow. Our in-house mortgage broker works for the Mortgage Advice Bureau (MAB) and can meet with you in our office or have a telephone conversation when it’s convenient.
MAB search 1,000s of mortgage deals to find the right one for their customers' circumstances. Some of these schemes can’t be found on the high street and are exclusive to them so it’s always worth talking to them to make sure you are getting the best deal.
The local property market
Start looking at what is currently for sale and understand what the market is like in the town you wish to live. Are there lots of properties for sale or only a few? Do you notice the properties move from ‘For sale’ to ‘Sold’ quickly?
We produce monthly market updates for Gravesham as well as Quarterly updates for the Southeast. It’s easy to sign up for our monthly newsletters. Just click the link below and complete the form: NEWS LETTER SIGN UP
Understanding the market will help you understand how quickly you need to move and what offers you may wish to make.
Register for our heads-up alerts
Missing out on a property you love is frustrating. Have you ever tried to book a viewing and the viewing slot is fully booked, or seen a property has sold and you didn't even know it was up for sale? Our 'Heads Up Property Alerts' mean you will never miss out. It’s so easy ...
1) Set up your profile on our system here
That's it, done! You will now get you the 'HeadsUp' on any property that might be suitable for you and the percentage that it matches your search criteria.
You can update your search criteria or unsubscribe at any time – it’s that easy. Set up your search criteria today to make sure you receive the 'Heads up' on properties BEFORE the portals!
We would love to help you move. Should you have any queries please do not hesitate to contact our team. We are here and ready to help you.
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