Buying a home is the largest financial investment most people will ever make.
You need to be sure that you will be able to afford your new home now and in the future.
Your earnings and savings will dictate how much you can borrow from a mortgage lender and therefore what you can afford to buy.
Remember the bigger the mortgage the larger the monthly repayments.
Mortgage rates can vary and your monthly cost could rise and fall depending on interest rates.
You will need approximately £2,500 to cover initial costs such as legal fees, valuation fee, and removals.
Every month you will need to pay your mortgage, rent if you have purchased a shared ownership property, and other bills such as water, gas, electricity, insurance, and council tax.
Remember that your home could be repossessed if you do not keep up the repayments on your mortgage or other loans secured against it, and that house prices can go down as well as up.
As part of our service we help you work out what is affordable to you, once you have submitted an initial application form.
We recommend that you talk to an Independent Mortgage Advisor as soon as possible.
Here are a couple of local advisors that may be able to help you:
32 Linnet Hill
T: 01332 232627
M: 07954 340747
14 Hawthorne Avenue
T: 0115 9638965
M: 0794 1041150