There has never been a better time to buy your first home, with mortgage rates at record lows and a great choice of starter properties for sale in North West London. Moving from being a tenant to a homeowner is an exciting journey but it can also be a little overwhelming.
North West London estate agents London Residential are on hand to offer friendly, professional advice for anyone buying their first home.“Many of our tenants are saving for a deposit with the intention of buying a property for sale in North West London. When the time comes to purchase, they can run into jargon and processes that they have never come across” comments London Residential’s Sales Manager, Miles Roberts. “We offer what you might call a hand-holding service, supporting new buyers every step of the way. We can talk through every aspect of purchasing - from registering details and booking viewings to making an offer and reaching completion. Our in-branch mortgage advisor, Jane Bacchus, is also on hand to help first-time buyers work out how much they can afford, explain the mortgage application process and the related purchasing costs.”
If you’re a property buying novice and would like some advice, make an appointment with us today. In the meantime, read our top first-timer buyers tips.
1. Register directly to avoid disappointment: Registering directly with London Residential ensures you don’t miss receiving news of the latest properties for sale. We offer new instructions to our waiting list of buyers first.
2. Choose a mortgage: Our independent mortgage broker, Jane Bacchus is available to meet first-time buyers in our Camden Town office. She will guide you through the mortgage options open to you, highlight products suitable if you have a low deposit and explain the intricacies of those requiring a guarantor.
3. Make a successful offer: Making an offer as a first-time buyer brings the advantage of being chain free and London Residential will ensure vendors are fully aware of this benefit. We’ll also negotiate the sale price on your behalf and see any accepted offer through to completion.
4. Pass the affordability test: Borrowers need to declare their financial commitments during the mortgage application process, as well as illustrate how they would repay their mortgage should their mortgage rate rise. Don’t forget to include solicitor fees, stamp duty, mortgage arrangement fees and moving costs when budgeting for your first purchase.
We’d love to help as many first-time buyers as possible. Contact London Residential today to chat about your buying options - we can set you on the path to homeownership.