Moving home is known to be one of life’s most stressful events. In fact, a survey earlier this year, found the process can cause us more stress than other major life events such as having a baby, getting married, starting a new job or getting divorced.

The biggest cause of worry for many is arranging finance for the move. First-time buyers need to save up funds for a deposit, as well as finding the right mortgage and an affordable property. Low- deposit mortgages and saving schemes, like the Help to Buy ISA (which closed to new accounts on 30 November 2019), appear to have helped with the challenge of saving a deposit to some extent. It pays to save a large deposit as in most cases, the bigger the deposit you can put down, the lower your interest rate is likely to be.

As well as saving for a deposit and budgeting for costs like legal fees and surveys, you should review your income and outgoings; any lender considering your mortgage application will expect you to be on top of your bills and to be able to afford your monthly mortgage payments.

Research from Aldermore’s First Time Buyer Index reveals prospective first-time buyers view buying a home as challenging, with over a quarter (29%) saying getting on the property ladder is ‘very difficult’. This research also showed nearly two thirds (61%) of recent first-time buyers found the house buying process ‘confusing’ and two in five (39%) say the stress of it actually made them feel ill.

With such a vast number of mortgage deals available, it can be difficult to know which one is right for you.  Whether you are a first-time buyer, moving home, remortgaging  or looking to release equity from your property we can help.

Our qualified mortgage advisers have access to a wide range of mortgage deals and can help you understand all aspects of the home buying process.

You will need to take legal advice before releasing equity from your home as Lifetime Mortgages and Home Reversion Plans are not right for everyone. This is a referral service.