Estate agent advice for first time buyers
Buying a home for the first time can be very expensive. This guide will help give you an idea of the different costs and ways to make buying your first home possible and less daunting.
Ownership schemes
There are a number of schemes aimed at helping first time buyers but are only available on certain properties so it's worth checking with the homebuy agent in your area. For more information please see the 'First Time Buyers Initiative guide' from the Direct.gov website.
First Time Buyers Initiative guide (PDF - 330Kb approx)
Finding the right mortgage
To buy your first property you will need a five to ten percent deposit based on the property value. As house prices rise it is increasingly difficult to get a deposit, you may consider asking friends and family for financial help. There are many types of mortgages available and there are special first time buyer offers aimed at helping you get that first property.
More advice on mortgages (money, tax and benefits)
Buying a home for the first time
There are many one off initial costs when buying your first home, this can be a problem if they are not considered especially with high house prices.
- A deposit
- Stamp Duty Land tax (if applicable)
- Surveyor's fees
- Lenders fees and charges
- Land Registry fees
- Removals/or moving in charges
Planning for buying a home
