Buying a property never really gets any easier. You may think that your first home purchase was a daunting process. But the truth is that all subsequent purchases can be equally daunting. There is so much to take into consideration. Here at Mortgage Style, we don’t just find the best residential mortgages Bristol has to offer. We can also help you sort out your budget, advise you on when and where to buy, and much more. Read on for some invaluable tips on property purchase in and around the city of Bristol.
Residential Mortgages : Your Budget
When you are budgeting for a property purchase, there are far more things to take into consideration than just the price tag of your home. Moving incurs expenses such as time off work, the buying of new furnishings, and the cost of your removal company. You should never use all your savings as a down payment on your mortgage. Living in a home without carpets or furniture does not make sense.
So, set aside the amount that you will need for such extras, preferably in a totally separate savings account. Although it is impossible to know just how much money you will need to spend on decorating until you find your new home, you can still put aside an estimated amount of money. If you strike gold and find a home that you love, and that doesn’t need any work done to it, then it’s a bonus.
So, once you know how much you can afford to spend on a property, you can start your search. But, how do you know what that figure will be until you check out all the best residential mortgages Bristol has to offer. Here at Mortgage Style we take each of our clients individually and we like to be realistic. What we don’t want is to see you tied into a mortgage with payments so high that you cannot afford to enjoy your new home. Although you may be eligible to borrow more than you thought, or less, once again, don’t intend to spend to the limit.
Residential Mortgages Bristol : Area
If you are moving to Bristol from somewhere outside the county, then you won’t know which areas are suitable for you and which aren’t. A lot will depend on whether you are a couple, a retiree, or a family with kids. You can read a lot online about which the best areas of the city are best. You can also tell a lot by the price tags! But, the best way is to ask our advice. Working in the city for decades, we know all the postcodes inside out, we know where are hot for investing, and where frankly you should avoid.
Your mortgage will be your biggest cost when purchasing your new home, but do not forget that there will be other expenses tied in such as stamp duty and surveyors costs. We can help you with this side of your mortgage application too. We can find you the best mortgage for you, with the best rates, and most importantly we will find you a solution that you can afford. We can help you choose between fixed and flexible mortgages, and provide you with all the support you need throughout the whole process of your property purchase. Contact us to day to find out about all the services we have on offer including income protection insurance, bridging loans, and more.
For more information and advice, give us a call on 01275 370360 or 0117 907 0818 or fill out a contact form to discuss your individual requirements.
Tags: Residential Mortgages Bristol
Categorised in: Mortgage Advice
This post was written by Marcus Robinson