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Published on : March 8, 2019 16:53


First-time Buyer Q&A – Everything You Need To Know

Getting onto the property ladder can be a big step for anyone to take, especially for those with zero prior experience.

Here are a few questions and answers from, Jessica Kenyon, a recent first-time buyer. Hopefully, this will give any first-time buyer a better insight into what buying a first property involves and some top tips for your buying journey.

Were you renting before you bought your house?

“No, we were actually living with my dad while we saved up our deposit and bought things for the house. Having never lived away from home (apart from at University) we needed to buy everything new!”

How long does it take to buy your first property? From finding your ideal home to the moving-in date.

“We started looking a year before we found our house. We wanted a new build and many weekends were spent looking round beautiful show homes and wondering if we’d ever be able to afford what we wanted.”

“In October 2017 we were lucky enough to find a plot that had been released after being an ‘early bird’ reserve from our favourite developer. We put our deposit down and watched it being built over the next 8 months until we moved in in June 2018.”


Jessica’s property in the process of being built

How easy was it to get a mortgage approval? And what did you need for the approval?

“Having never had a mortgage before we weren’t sure what to expect from the process but our mortgage broker was super helpful and available to answer all our questions at any time of the day or night!

The process was really swift and we got our mortgage in principle within a few weeks. We had to provide proof in income, utility bills and bank statements from the previous three months. I think that was about it!”


Do you need to get your mortgage approved before viewing properties?

“No, we reserved our plot the day after our first appointment with our mortgage broker. We had a good idea that we’d get the mortgage in principle but we didn’t need it in the first stages.”

How did you find the money for your deposit?

“We saved hard! We also took advantage of the Government Help to Buy scheme which meant we could put a smaller deposit down on a larger property while still having money left to pay all the legal fees, stamp duty, extras for the house during the build stage and furnishing it after we moved in.”


Jessica’s new house

How long did it take you to save for your deposit?

“To save all the money for our house it took us less than 2 years; we were really dedicated. We already had some money saved up before we started working towards buying the house specifically which definitely helped.”

How easy was the process?

“Saving your deposit is as easy as you make it. If you’re dedicated to buying your home then making the necessary sacrifices won’t be such a chore.”

“Sometimes you’ll have to say no to going out for drinks or meals and going on holiday might need to be postponed but ultimately any sacrifices are more than worth it. To move into your first home and still have money saved to fall back on is a great achievement.”

Buying your first property

Moving into the new home

If you were to buy your first property again, is there anything you would change?

“No, the process was fairly easy and stress-free! I would definitely advise getting a spreadsheet on the go to manage your savings progress as well as making a note of everything you’ve paid for.

Deposits, surveys, insurances – they all mount up! I’d also recommend buying folders and plastic wallets to keep all your paperwork safe, there’s lots of it!”


What is the one thing you wish someone had told you before you started the whole home buying process?

“One thing someone did tell me was to make sure you get as much done on the house before you move in / as soon as you move in. This was excellent advice as before you know it, life quickly gets in the way and that shelving unit will sit in its box in the garage, unopened for months if no one tackles it early on!”

“I wish someone had given me a list of all the places you need to change your address and who to notify that you’ve moved. There’s still some addresses that I need to update!”


The brand new house bought as a first-time buyer

Hopefully, you now have a better idea of what buying your first home entails from a first-hand perspective.

If you are looking for your first property, why not have a look at these.

If you are a first-time buyer keen to get on the ladder, why not speak to a friendly mortgage advisor and get professional advice. You can give our mortgage advisors a call on 0161 443 4555, or alternatively fill out this form so we can get in touch with you.

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