Looking To Buy Your First Property?
New research from property portal Zoopla shows the soaring cost of property means that first-time buyers need hefty deposits in order to afford a home in some of the UK's major cities. Figures indicate that those who opt for city living are likely to need an income of around £54,000 and a deposit of £38,000 in order to purchase an average-price property.
Finding a large sum for a deposit can seem daunting, but with a bit forward planning and budgeting, it's achievable. There are various ISA savings schemes that offer valuable tax advantages that can help you or your way, and drawing up a budget and watching your spending will help too.
Keep In With Friends And Family?
Talk to Mum, Dad, Grandma or Grandad and share your plans. More and more families are helping younger members by passing on cash when it's needed most.
If you're currently paying extortionate amounts of rent, you could consider finding somewhere less expensive or moving into shared accommodation. You could even think about moving back home for a while to save even faster.
We can help you!
Your home may be repossessed if you do not keep up repayments on your mortgage
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.