First time buyers

Buying your first home can seem daunting, but it doesn’t have to be. We're here to help you throughout the whole buying process and with no buying chains and access to schemes specifically for first-time buyers, you can actually find yourself in a great place to begin your journey.

Working out what you can afford

Before you start looking for your dream home, it’s worth working out how much you have to spend, and how much you can realistically afford to borrow. Also check out the schemes available to help you. 

This should include upfront costs like your mortgage arrangement fees, stamp duty, surveys, solicitor’s fees and land registry fees. You may also want to factor in your deposit and the cost of running your new home, plus any furniture or appliances you’ll need to buy in the first few months.

Find how much you can borrow

Unless you’re lucky enough to have the money to buy your house outright, you’ll need to apply for a mortgage. The actual amount you can borrow will depend on your income, credit history, outgoings, and whether you are buying on your own or with others.

Ultimately, this will come down to how much you can afford each month, and finding out how much you need to live on is a good place to start. In a nutshell, this involves writing down your income, then making a note of your outgoings. This simple exercise should give you a rough idea of how much you can afford to repay and will be invaluable when you come to choose a mortgage and a home.

Costs to consider:

• Mortgage arrangement fees
• Survey fees
• Land Registry fees
• Solicitors and conveyancing fees
• Your deposit
• The cost of decorations and furniture

If you’d like a hand calculating your budget, or would like to find out how Charles Church can help you move in for less, please speak to one of our sales team who can put you in touch with an independent financial advisor.