FIRST TIME BUYERS/HOME MOVERS

Over the past few years, the property market has been moving very fast and has led to significant increases in property prices. This has made it very difficult for many people to afford to buy a home. This is a problem particularly faced by first time buyers, as although they may be able to raise a mortgage, this will often fall far short of the cost of a property. That is where Mortgages A2Z Ltd could be of help.

GETTING ON THE LADDER:

It is, however, still possible for first time buyers to get onto the property ladder and there are actually some advantages to being a first time buyer:

• first time buyers are more appealing to sellers because they are not in a chain (that is they are not part of a long list of people all dependent on each sale in a chain going through on time) .
• first time buyers are much sought after by mortgage lenders.

Buying a home is probably the biggest financial decision you will ever make so it is worth taking time to consider whether it is the right choice for you. You will become responsible for all the costs of maintaining the property, including major structural repairs, routine repairs and improvements. Mortgages A2Z Ltd will assist you in the home buying process to ensure buying your home a truly enjoyable experience.

What costs are involved?

When considering buying your home you also need to take the following costs into consideration:

• mortgage repayments
• mortgage protection insurance for if you fall ill or lose your job - for mortgage payment protection and accident, sickness and unemployment insurance we offer products from a selected panel of lenders.
• life assurance to enable your family to pay off the mortgage if you die
• contents insurance against the risk of theft, fire, flood or other accidents
• council tax and water charges
• gas, electricity, telephone, etc
• ground rent and service charges may apply

The process of buying a house or flat is also costly, as you may need to pay for:

• a solicitor or licensed conveyancer
• an independent survey
• the mortgage to be arranged
• the Land Registry fee
• stamp duty
• a home information pack

HOME INFORMATION PACKS:

Buying and selling a property doesn't always go according to plan; currently, one in four transactions collapse before contracts are exchanged, wasting time and money. The Government hopes that The Home Information Pack will make home buying and selling faster, simpler, and easier to understand.

When will Home Information Packs be available?

From 14th December 2007, all home owners in England and Wales will need to prepare a Home Information Pack before putting their home up for sale. To find out more, visit the dedicated Home Information Packs website using the link below.

http://www.homeinformationpacks.gov.uk/

The house buying process can be a nightmare if you are unfamiliar with how to deal with lenders, solicitors & even estate agents.

That’s where Mortgages A2Z Ltd can assist you. We will take care of the whole application process for you with a combination of emails, faxes, phone calls & post.

We will deal with the lender, arrange for the valuation to be carried out, liaise with the estate agent on your behalf & deal with all the legal work using a solicitor from our panel.

Initially, all you have to do is complete an Assessment Form & on application to a lender, provide us with the documentation required by that particular lender ie. ID in the form of passport or driving license, bank statements, payslips, proof of residency for the last 3 years & possibly proof of rental payments.

WHAT SHOULD YOU DO?

Give us a call or complete one of our simple contact forms & you can choose whether you would prefer a fully qualified advisor to contact you to assess your situation or whether you would prefer to submit more information through our website & have a recommendation supplied to you within 24 hours.

Whichever method you choose, you are under no obligation to proceed with any recommendation. We have access to the whole of the mortgage market & our advice is totally impartial. We feel confident that our advice will have significant impact on your financial circumstances.