Richard Butler Creagh: How to Avoid Unnecessary hassles when Buying a Property
10:44Richard Butler Creagh's Tips on Buying a Property Minus the Hassle
Welcome to Richard Butler Creagh's blog. Richard Butler Creagh is the owner of Henley Finance and has many years’ experience in finance. Richard also believes that it is important to invest your money wisely. Here are his tips on buying a property without any hassle.
Buying a property is already expected to be stressful. These days though, the British property market has gone even crazier. Prices for homes seem to be on a steady astronomical rise. Add to that the fact that the process involved can get easily complicated and you know that it is easy to make a hasty decision and then regret it big time in the end. If you are considering the possibility of purchasing a property, below are tips that will make your life easier while bagging that property that you have always dreamt of.
Before you can consider buying a property, your finances need to be in order first. The best thing about having a financing advisor is that you are going to have somebody that can give you advice and guidance from your mortgage to insurance and anything related to the new house. It is stress-alleviating when you know you will have somebody who will look at securing only the best deals for you.
Only get help to buy when you’re desperate
Thinking long-term is important when buying a property. It does not matter if this is your first home. A mortgage can easily break you. Help you Buy seems fantastic in the sense that you only need to put down 5% when buying a house and the government will cover 15%. However, this can make mortgage choices more expensive. It also causes you to have less equity on the property.
Be realistic when it comes to interest rates
There is really no point in buying a property and then find yourself lose it because you cannot keep up with the monthly payments. Always think whether you will be able to cover the monthly payments for the purchase which could amount to hundreds of pounds. Always be realistic with your present financial situation.
Get a mortgage in principle first
You cannot expect to buy a home when you do not have a mortgage approved. Always do things in the right order which means that you should refrain from shopping around for ideal properties until such time as you have a mortgage approved.
Find a credible solicitor
Solicitors can either make or break deals. This is why you have to make sure that you only have a good one on board. If you are not sure where to look, you can always rely on word of mouth to find the best name out there.
Have your identification and supporting documents ready
Many times, the biggest problems when it comes to property sale or purchase, has something to do with delays caused by improper documentation. Make sure that you will have three months of your most recent bank statements, your passport, proofs of your address, payslip for the last three months, proof of your deposit funds, as well as gift declarations which relevant parties have signed.
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Oft-times, it is not in finding the right property that people tend to have issues with, but in the actual buying process. The tips above should help simplify things for you. Learn more property buying tips by reading about Richard Butler Creagh online. Read more about Richard Butler Creagh online here and connect with Richard Butler Creagh Linkedin page here.
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