First Time Buyer: No Deposit, No Problem!
15th November 2018
First Time Buyer: No Deposit, No Problem
Firstly, lets get rid of the misconception that to purchase your first home you need a large deposit………….in-fact you could have NO deposit and still get onto the property ladder.
Co-Ownership NI is a Government Funded scheme which assists you in buying your first home, even if you don’t have any personal deposit. It’s part and part, mortgage and co-ownership initially, with the option down the line to buy out co-ownership entirely. There are also lots of mortgage options if you do have a deposit, but a smaller one like 5% and the rates won’t break the bank either!
Being a First Time Buyer there are incentives to help you attain your first home making the process easier and less costly! There are Help To Buy ISA’s which offer an additional top up to your savings for your first home purchase, and First Time Buyers will also receive a discount on Stamp Duty Tax………you don’t pay any!
Purchasing your first home can include costs that you perhaps were not expecting, like solicitors fee’s and moving costs. But, we can access mortgage products which offer cashback from £500 to £1500 which you will receive when you complete, helping alleviate some of the financial implications of buying your first home.
Finally, the whole process can be made easier by speaking with our Mortgage Advisor, Ursula McCreesh, who will guide and advise you on every step from just starting to look for a home to getting the keys to your dream property.
With no fee for advice, why not pop in to Bradley’s today and chat to Ursula or call 028 300 50633.