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Buying a House


First Time Buyer’s Mortgages

You've come to the right place if you're a first-time buyer and are unsure about the requirements to purchase a home or apartment. Here, we'll address all of your questions about "Finding a mortgage," "How much deposit do you need to buy a house," "Budget for the other costs of buying a house," and "Making sure you can afford your monthly repayments.

So, Let’s get started:

How much deposit do you need to buy a house?

A deposit must be in your possession before you proceed to look for the property's finalization. Generally speaking, you should save between 5% and 20% of the price of the house you want. I'll use an example to help you comprehend this. You will need to save at least £7,500 (5%), if you want to purchase a house for £150,000. You will undoubtedly have access to a greater selection of less expensive mortgages on the market if you save more than 5% of your income. Set aside money for the additional expenses associated with purchasing a property.

A mortgage is a big part of monthly payments but when you are buying a property there are other costs too, We have listed them below,


Please have a look:

  • Survey costs

  • Solicitor’s fee

  • Removal costs

  • Buildings insurance

  • Initial furnishing and decorating costs

  • Mortgage arrangement and valuation fees; and

  • Stamp Duty (Land and Buildings Transaction Tax in Scotland, or Land Transaction Tax in Wales).

Stamp duty on properties up to £500,000 will not be charged, if you purchase them by March 31, 2020, or before. Verify that you can afford the monthly payments. The most crucial decision to make as a first-time home buyer is whether you can actually afford to take this step.


Making a budget before you begin your property search is a good idea. Applying for a mortgage now entails stringent examinations. obtaining a mortgage Selecting the best mortgage offer for you can be challenging because there are numerous options available. Thus, you can seek our assistance to avoid being duped.

we are available to assist you in any circumstance. Reach out to us today or schedule a call through “contact us page.”

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