A survey by estate agent Tepilo of 2021 homebuyers found that those who bought a house in the past year, were in the process of buying, or planned to buy in the next 12 months revealed that Brits find the UK property buying process confusing and unfair.
BUT we're here to shine a light on everything there is to love about the home buyer process, so you can set off on your journey with a positive mindset on how to buy a property in the Capital, and possibly help to make it happen for you.
1. It is possible to get the right mortgage for your circumstances
Getting the right mortgage in place depends on both your attitude to risk and your individual circumstances. If you are in a strong financial position with a large deposit, or are prepared to pay a higher arrangement fee, then you should be offered a broader range of options to choose from. However, if your deposit is smaller and you can't (or don’t want to) pay a larger arrangement fee, then your range of options will be more limited. Use our Mortgage Sourcing Tool to find out how much you could borrow.
2. Your credit score can be improved with some easy wins
Crucial to the mortgage process, your credit score plays a big part in determining the mortgage deals you are eligible for, as it paints lenders a picture of how good you are with your finances. Shed some light on your score and work your way through our handy guide on how to improve your credit rating, to get your score in the best possible health as early on in the home buying process as possible. Many of our tips are quickly actionable and take effect within a few days.
3. There are numerous schemes available to help you get on the housing ladder
If you are a first time buyer, looking at the London housing market and wondering how you’ll ever get a leg-up, then be sure to see if you are eligible for the Government’s affordable home ownership schemes available to you. The Help To Buy Scheme could see you get a mortgage with just a 5% deposit.
4. Interest rates are low
As the Bank Of England base rate remains low, lenders are offering some very competitive deals, and for many home buyers, now is a great time to get their home buying process underway or consider remortgaging.
5. It’s easier than ever to find the right home for you
On websites like Rightmove, you’ll be able to compare properties across various agents, filtering by price, location, and more. You can register with multiple estate agents in the UK at the same time. They should be a member of the National Association of Estate Agents.
6. Professional and caring Mortgage Consultants DO exist
If you want to feel safe in the knowledge that you are partnering with a qualified mortgage professional who cares, then talk to Skyline’s independent mortgage consultant, Tony. With a 100% 5* Google Review track record, Tony has helped guide many London home buyers through the mortgage process as swiftly and painlessly as possible.
Make your home buying journey smoother by researching the home buying and mortgage process thoroughly before buying a new home. There are associated costs involved, but if you know what you're facing ahead of time, you will feel more in control of the process.
Get all the lowdown from Skyline’s ‘Complete Guide To Getting A Mortgage’ and learn more about the entire home buying process from beginning to end.
Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. A fee may be charged for mortgage advice. The amount will depend on your circumstances. The Financial Conduct Authority does not regulate some forms of Buy-to-Let.