A couple of weeks ago I reported on the latest findings from the Halifax House Price Index and how they see the housing market.
At Mortgage Advice Bureau we have a fantastic team of fully qualified mortgage advisers who can help you find the ideal mortgage for you and last time out I promised to let you into a few secrets.
Call them our “3 golden rules” if you are looking for a new home or indeed, a new mortgage.
First up, let’s look at Golden Rule number 1, what can you afford?
To give yourself the best chance, start your planning before you start hunting for your dream home. A really useful tool can be found here via our Mortgage Borrowing Calculator.
It is free and easy to use, just enter a few key details to get an estimate of how much you could borrow and this will allow you to start making informed decisions regarding your new home.
Please do note that this is only an estimate. To get a more accurate quote, just drop me a line and I will be able to give you a more detailed guide.
The great thing about using this free mortgage calculator right from the outset is that it saves you any wasted time researching homes in the wrong price bracket for your potential budget and leaves you to focus your time and energy best in your hunt for a new home.
What is arguably just as useful is that this tool can assist you in gaining what is called an Agreement In Principle, or AIP.
This is a document that is provided by your mortgage lender and can be invaluable when you are speaking to estate agents as it shows them you are serious and that you can in theory afford the prices you are looking at.
Most agents will even insist on one.
So take a look at the mortgage calculator today or, drop me a line and we can discuss your options.