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Eric Kirk
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Any mortgage tips for a first time buyer?

I am a first-time home buyer and I am actually quite scared by the idea of getting a debt for my next 30 years. Yet, it is the only way to buy home and fortunately I have a job but our income at home is not very high since my wife is not working. I would like to get some tips about how to choose and how to behave with banks. For a person who has never dealt with financial institutions but for a credit card, it is not so easy to be prepared for getting the best mortgage

Sun, 01/12/2013 - 09:38

Comments : 1

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Auburnharrison

Answers

4

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Well, the first thing you have to do is to choose the type of mortgage you prefer: fixed rate or variable (or adjustable) rate mortgage? You can read this article to get more information about the different options of mortgage you have.

You can also use a mortgage repayment calculator to make an hypothesis of what your monthly expenses will be. Consider that apart from the monthly instalments, you will have to pay extra costs such as the upfront and the closing costs.

Tue, 03/12/2013 - 18:07
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Oh, I forgot! You can compare the best offers of first time buyer mortgage at this link. 

Tue, 03/12/2013 - 18:15

First time home buyer schemes are special programs including a particular and targeted assistance. But generally they are ensured to those people with a low income. Basically, when a first-time buyer loan is granted, there is a restriction on the maximum value of the property to buy. Moreover, you are supposed not to sell your home during a certain number of years, or you lose some of the advantages you had got. 

Thu, 05/12/2013 - 23:01

Have you ever heard about the Right to Buy in the UK? I know many people who have been able to afford a home thanks to this scheme. Basically, it means that you can buy a council home at an affordable price, which in a city like London where home prices are incredibly expensive, is a miracle! Obviously, there are some conditions and the main one is that you have been the home's tenant for the last five years.

Tue, 10/12/2013 - 19:54

Well, the first thing you have to do is to choose the type of mortgage you prefer: fixed rate or variable (or adjustable) rate mortgage? You can read this article to get more information about the different options of mortgage you have.

You can also use a mortgage repayment calculator to make an hypothesis of what your monthly expenses will be. Consider that apart from the monthly instalments, you will have to pay extra costs such as the upfront and the closing costs.

Tue, 03/12/2013 - 18:07
Tags: 

Oh, I forgot! You can compare the best offers of first time buyer mortgage at this link. 

Tue, 03/12/2013 - 18:15

First time home buyer schemes are special programs including a particular and targeted assistance. But generally they are ensured to those people with a low income. Basically, when a first-time buyer loan is granted, there is a restriction on the maximum value of the property to buy. Moreover, you are supposed not to sell your home during a certain number of years, or you lose some of the advantages you had got. 

Thu, 05/12/2013 - 23:01

Have you ever heard about the Right to Buy in the UK? I know many people who have been able to afford a home thanks to this scheme. Basically, it means that you can buy a council home at an affordable price, which in a city like London where home prices are incredibly expensive, is a miracle! Obviously, there are some conditions and the main one is that you have been the home's tenant for the last five years.

Tue, 10/12/2013 - 19:54
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