The Golden Tips of Buying your First Mortgage Home in London by Nick Millican
The Golden Tips of Buying your First Mortgage Home in London by Nick Millican
Real estate experts such as Nick Millican know by own experience that the idea of buying your first home in London can be daunting especially when you lack financial aid from your family. From the onset of the interest rates, the prices of mortgages have been skyrocketing every year.
Considering this complexity, here are some easier ways to get started for the first time buyers.
First, Nick Millican recalls, get a private mortgage advisor to check on your credit rating and see if you are eligible to borrow to which capacity. The right mortgage advisor will settle this information down for you.
Secondly, do a thorough research to have an idea on the affordable places you can live and whether they have the needful facilities as well as transport links. This is convenient for you and even the future home buyers. Next, Nick Millican shares, having a lodger like an extra bedroom in your apartment is a wise financial plan as it will help you offset your mortgage every year.
Remember to view the property cautiously to ensure it has the right size of rooms you need for everyone, and, most important, the quality of light. The old kitchen, the wallpapers can be easily replaced and therefore should not be the main focus, Nick Millican adds.
If you do not have ready cash for your mortgage, consider some of your trusted family as guarantors. As a buyer, also be careful of any extra service charges. For instance, buying a home in a small block is cheaper compared to buying a home under development because you will have to pay for the service charges monthly. Finally, Nick Millican comments, after shopping around and reaching your destination home, brace yourself with effective negotiation skills so that you arrive at the best deal.