Mortgage Deposit for a House Purchase
publication date: May 17, 2010
|
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
Mortgage Deposit for a House PurchaseSaving for a mortgage deposit for a house purchase might seem like too much hard work, or indeed an impossible task. But you may well be able to do it, depending on how much you earn, how much you spend and how much you can save if you really put your mind to it. Doing a budget is a pretty easy task (download an example Budget Sheet here). You’ll need your bank statements, your credit card statements and little book that you can write down everything you spend your money on. Kate Faulkner, Managing Director of Designs on Property has done some initial research to see how possible it would be for first time buyers to save up to £15,000 to secure a mortgage. “It won’t be easy for first time buyers to save for a deposit, but with the right advice, I’m sure they can do it within three to five years”. The problem for many potential buyers though is they don’t want to make the kind of sacrifices that are required to secure funds, so it is only the people that really want to purchase a home that are likely to be willing to give up lots of treats for a while. Here are Kate’s top five tips on saving money for a house deposit:-
AND if you are nearly there with your deposit, think about buying a brand new home as they will often help towards your moving costs as well as chipping in a bit more money to help top up your deposit. Need help saving for a deposit? Want to know what developers will help with your deposit? Then email enquires@designsonproperty.co.uk or tel 0845 838 1763. Buy our First Time Buyer Pack and gain access to Kate and her team via email or phone to help you through every step of your purchase. |
Members LoginMembership is chargeable, please CONTACT US for more information. |