Did you know there’s multiple options available to you to help you purchase that dream house? Yes, you can opt for a traditional mortgage, but have you ever heard of co-ownership? It’s simple really, you take out a mortgage on a percentage of the price of the house you can afford, and the Government will purchase the rest. You then pay the Government rent every month on the % you don’t own. Over time you can buy the Governments % from them. It’s a great way to get on the property ladder if you are worried you can’t afford a new home by yourself. To find out more about Co-Ownership click here (insert NI Gov website).
Once you have found the best option for you, whether that be Co-Ownership or a mortgage it’s time to start managing your money & budgeting for those compulsory costs like solicitors’ fees etc. A good place to start is by calculating your monthly income vs outgoings. Your mortgage lender will want to know this so it’s a worthwhile exercise to get stuck into. You’ll also need a deposit, try to save as much as you can per month for this without having to leave yourself short. We’ve got an entire blog on how to budget for your first home read it here (insert the real cost of buying a house blog link)
This is where we come in! Now down to the fun part, picking that perfect pad for you. Check out our current developments here (insert link to current developments). Don’t be shy, contact the agents and book viewings. The best way to find what you like is to have a good nosey about. Don’t be scared to ask the agent whatever you are thinking - no question is a stupid one, we’re all here to help!
Once you’ve found the home of your dreams, it’s now time to get applying for that mortgage! Speak to your bank, building society or mortgage broker about your options. Once you have filled in all the necessary paperwork they’ll give you a decision in principle, this will tell you how much the lender will offer. When you get this, you can agree the sale on the new pad… exciting, right? They’ll then need more details off you to approve it, it’s normally proof of bank statements etc. Once everything has been agreed you’ll receive a mortgage offer.
So, you've picked your pad, got your mortgage it’s now time to sign on that dotted line! Once you have signed, it’s time to choose your kitchen and all the fun bits! You’ll then be given a rough timeline before you can get your keys.
It’s finally arrived, the move in day! Stressful we know but take it all in your stride. You’ll be given a time to collect your keys from the agent! Get those keys and get that new front door open! You’ll be a homeowner - congrats!