Mortgage Advice for First Time Buyers, First Time Buyer Mortgages and First Mortgage Advice

Help for First Time Buyers

Looking to Rent

It may be that this is a good time to rent - or is it a good time to buy? At least with renting you can have some degree of flexibility - unitil your landlord turfs you out!

The difficulty is weighing up the pro's and cons of renting and buying. Whilst renting you have no real ties, but you are paying off your landlord's mortgageĀ - but when you own, you pay for an expensive mortgage of your own - but at least when you've paid it all off, you won't need to pay rent or for a mortgage after then.

In our Renting Guide we have more information onĀ various aspects of renting - including how you can still invest in property whilst renting!

Renting Guide: Rent to Buy l Part Buy Part Rent l Flat or house sharing sharing l Invest whilst renting l Buying property abroad l Making the best of renting l Right to Buy Schemes


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There's alot going on! What do you think?

Interest rates are low but could rise? Is this a good time to buy?

Yes
No

Varialbe rate mortgages go up if bank interest rates do. Which is your preference?

Fixed Rate
Variable rate

Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?

Interest Only
Repayment

House prices are waivering. Do you think this is a good time to buy?

Yes
No

Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?

Too complicated
Too expensive
Too risky

Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?

Works best in a rising market
Too complicated
Good option


 

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