Five Ways to Get on that Ladder

1. Revise your outgoings
Christmas can leave a big hole in your finances. Go through all your credit cards and loans, consolidate and find cheaper interest rates (even better pay them off)
Mortgage companies are becoming more particular about your spending habits, so do a spring clean of all your finances!

2. Be open-minded about a new build
New builds have never been so competitively priced, and have become a real viable option. The currant slow property market has resulted in developers desperate to sell their stock and have some financial return.
Many of these new builds are even offered with government-backed funding through the HomeBuy schemes. This allows people who don’t have a lot of capital to get on the ladder. If the right property is chosen you could have a good investment on your hands.

3. Be prepared for the big O
Homebuyers are struggling unless they have an offer in principle. You will not be taken seriously if you have not sorted your finance out in advance. A decision in principle will not guarantee that you will receive a mortgage offer, but will be a good indicator of how much you can afford to borrow.

4. Hype, don’t believe it
There are countless reports stating that house prices are on the rise and that we are out of the property recession, but you should still proceed with caution. There are conflicting reports daily, do not jump on the first property that you see.

5. Location Location
Irregularities within property pricing by location are not just confined to the north/south divide. While property prices are rising slightly in some area, in others the downward trend is continuing. That is largely due to supply and demand, but a clever buyer will hunt around different areas to find a desirable property that hasn’t been artificially hyped up due to lack of supply.

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