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The Galleries Mortgage Shop is a trading name of Gordon Lamb (Washington) Ltd, registered in England at 51/52 The Galleries, Washington Centre, Washington, Tyne and Wear, NE38 7SD (number 02574067), (VAT Registration Number 569534988).Gordon Lamb (Washington) Ltd is an appointed representative of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 435779) for mortgage and non investment insurance advice. The Financial Conduct Authority does not regulate some forms of Buy to Let.
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Top 5 Tips for First Time Buyers
Buying your first house is an exciting part of your life, but it requires lots of work as getting on the property ladder is not easy. In this blog we discuss 5 top tips to keep in mind when you are buying your first property.
1. Take your time...
Even though you will want to buy your first home as quick as possible it's not a process that should be rushed. Don't choose the first nice home you see and get carried away, instead take your time to do your homework, working out each individual need you require including how much they will cost.
2. Check your budget
Buying a property isn't cheap so one of the main things you should find out is your budget. Without a clear idea it could lead to complications further down the line. Look at each property you are interested in and work out the average cost of living for that area. Look at things you could cut back on to save yourself some vital money.
3. Do your mortgage research
Finding the perfect mortgage is half the battle when it comes to buying a home. Although it's important to complete your own research, we recommend you talk to a professional Mortgage Advisor too as they can access hundreds of available mortgages to help you find the right one.
4. Prepare for a long process
Buying a house will most likely take longer than you think. Don't put yourself in a difficult position by arranging to move out of your current living space too early and end up in a tricky situation. Instead the key is to plan, ask friends and family of their experience when buying a house and how long everything took.
5. Don't stick to your plan exactly
When buying a property always expect the unexpected, there may well be things that crop up on the way that you did not initially know about, or things that could put your moving day back. Even though planning is important, do not be too rigid in sticking to it.Return to news...
This website is intended for people over 18 years of age who are resident in the UK only. The website and the information contained therein should not be regarded as an offer or solicitation to conduct business in any jurisdiction other than the UK. These pages provide generic information about various aspects of financial services advice that we provide. We hope they are helpful to you but they do not on their own add up to recommendations and we cannot take responsibility for anything you do in reliance on them without further discussion with us. Please do not make a decision based upon the information contained within these pages alone. Contact us for further advice to enable you to make an informed decision based upon your individual circumstances.’
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