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First time buying home. Help!

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  • First time buying home. Help!

    Hi everyone,

    I came across this forum while Googling and thought maybe I could get some answers.

    I am planning to buy an apartment and want to apply for a mortgage. I do have savings but I think I'd have to burrow a substantial amount. I'm just really confused how much are the mortgage indemnity rates? Do all the banks have the same MI rates?
    Is it different?

    This is my first attempt to buy a house and just don't know where to begin. Would like to do some research before I apply for a mortgage.

    If anyone could tell me or provide links to any kind of information then that would be just awesome!

    Thanks guys.

  • #2
    Re: First time buying home. Help!

    Hi Anna,

    My site maybe a useful starting point, it contains lots of info - please use the link below:
    5% Deposit Mortgages 2013 2012 - Halifax 5% Low Deposit Mortgages First Time Buyers 2013 2012


    • #3
      Re: First time buying home. Help!

      This is the era of the flat plan. More of us now rent than have done for years, more of us buy-to-let, and more buy property as a pension-provider.

      First-time buyers vie with downsizers and accidental landlords for a sliver of London real estate. Anyone with a bit of money to spare dreams of a garret or a glamorous pad. It has become the thing to do for those who can.

      Individual buyers will find they are in a much larger pond than they might have imagined. Investment in London property has become huge and global. According to Savills' report Rental Britain, the value of rented property in the UK went up by 42 per cent to £840bn in the five years to 2012. And the forecast is that the capital value of rented property in central London will grow by 25 per cent by 2017, and rents will rise by 24 per cent. So where should you look, what should you buy, what are the considerations?


      This of course depends on how much money you have and why you are buying.


      • #4
        Re: First time buying home. Help!

        Having an own home is a dream for all but it is not a possible as well as affordable for all to buy their own home.It will be a great for you that you are going to buy your own home at first time.But there are many things that you should have to be consider in your mind.


        • #5
          Re: First time buying home. Help!


          I can talk you through the process and provide some advice if required. Yes I am an estate agent but I'm also a real human and have bought and sold before so if you need just a quick chat let me know.


          • #6
            Re: First time buying home. Help!

            Actually a valuation survey is just to establish that the property is worth what the purchaser wishes to borrow. This survey is usually instructed by the lender (Building Society or Bank) and is for the value of the property only.
            A home buyer's survey will list all aspects of the building that have defects or need attention in order to make the property safe and/or habitable. Things such as warped woodwork, damp/dry rot, leaking roof, subsidence, need for electrical work, cracked walls or ceilings etc.