Can a first time buyer still get a mortgage?.
Well although the number of lenders and deals has shrunk, there are still some deals out there. First though you should ideally have a deposit of 10%. You also have to have enough income to afford to pay the mortgage each month as well as the bills that are also inevitable with home ownership. Most lenders work on affordability calculations now rather that a straight multiple of income. Next the property you are interested in must value up to the price you’re buying at. And your credit rating needs to be good.
If you find it all a bit daunting and want mortgage advice in Lutterworth or further afield, just contact Silverside Financial Services Ltd and we will help guide you through the maze.
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Friday, January 9th, 2009 at
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Mortgage Advice in Lutterworth .
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