Burgin & Partners

First Time Buyers

We are regularly asked these sort of things and we do our best to guide you through all of the process.
In our office we provide fact sheets to assist, here you will find a summary of FAQ:

How much deposit do I need?
There are still some companies that will consider no deposit, the normal deposit is between 5 and 10%

How Much can I borrow?
Depending on single people or couples.

a) Single is normally 3 1/2 times your income, again some companies will do more
b) Couples can normally borrow 2 1/2 times 1 annual salary and 1 times the other earner.

What are my solicitors costs going to be?
Shop around for the best deal, some agents have already prearranged costs with the vendor. The cost also depends on the price of the property, also now all properties have to be electronically registered and there is a charge for this.

a)Up to £80,00 buyers fee is £500

b) upto £150,00 Basically depending on the price of the property the rate is normally a percentage.

Some Mortgages can be arranged to cover all your hidden costs.

As well as my mortgage what other things do i need to pay for?
You will need buildings insurance.

Do I need a Survey?
Stamp Duty
What type of Survey

We can offer advice on all of this and more, so give us a call or pop in and have a chat with a member of staff.

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