Buying or Renting, what should you do?
It’s a two-minded system whether to move or not, or to buy your first home rather than renting. It is very common for First-Time Buyers however to be interested in going on the property ladder.
As such, they are often unphased by and disinterested in the external factors such as ongoing political events. Whilst the housing market does go through fluctuations, this hardly puts the First-Time Buyers off who are wanting to get on the Property Ladder.
It’s always classed as a long-term investment and whilst it may not be ideal if your home drops in value, history suggests that when that does occur the prices will go back up in the long run.
Well, not exactly. At Mortgages Remortgages – Mortgage Broker, we highly encourage young people to Rent their first home, especially if they are a couple.
However, paying rent is obviously harder to save for a deposit, but a much better option then taking out a mortgage, just in case of the worse case scenario.
Bare in mind, getting out of a Mortgage can be very expensive, it has to be something that you’re absolutely sure about doing.
What’s a Small Deposit Mortgage?
95% mortgages are more readily avaliable now than they were in the years prior. So if you’re a First-Time buyer who are more than likely to have the 5% deposit avaliable, it’s worth trying to get an agreement in place. This is so we can check that you are eligible to get a mortgage when the time comes.