Richard Butler Creagh: Buying Property Tips

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Richard Butler Creagh Shares Buying Property Tips for First-Time Home Buyers



Welcome to the Richard Butler Creagh blog. Buying a home for the very first time is not always an easy experience. The fact that it is one purchase that will have a really huge impact on your finances makes it a confusing and daunting task. There is also the fact that there are a lot of pitfalls that can be involved in the decision.

With a few easy steps though, preparing yourself financially to make the purchase is going to be possible. You want lenders to see you positively in order to get the financing you need. Read on and learn about how you can approach the whole buying process with more confidence even if this is the very first time that you will do so.

Richard Butler CreaghShow proof that you can manage your credit
You want to be attractive to lenders. They just need to see evidence that you are going to be one reliable and responsible borrower. Among the things that you will want to ensure is that you are up to date on your credit payments. Show too your total credit level and how much of it you are using. Show to your lenders that you know how to better manage your mobile phone contracts, your credit cards, as well as your utility services and it will truly help your case.

Select the right mortgage
Decide between a variable or a fixed one. Determine whether you would prefer an interest-only or a repayment type. Your type of mortgage is going to make a difference when it comes to the repayment amount that you need to cover every month. So, carefully think it through. Find out what are the specific choices that are available for a first-time buyer like you to select the best and most ideal arrangement.

Check out affordable schemes for buying a home
One way to lessen the costs that you need to cover when buying a home is to engage in shared ownership. This is where you will buy your share of a house with the minimum usually at 25%. You will then pay rent to a housing association for the rest of the costs of the property. This means that you will only need to secure a mortgage for the value of the share of the house that you are buying. Once you get more established financially, you can buy more shares of the house until you finally reach full ownership.

Check your credit report and get it in shape
Check your credit report before you submit any mortgage application. Check if the information listed there is correct. In the event that you have a rather abysmally low credit rating, take the necessary steps to get it in shape so when you will start submitting mortgage applications, you get a good chance of getting approved.

Learn more tips on buying a house for the first time from Richard Butler Creagh. More property buying tips can be found at Richard Butler Creagh Facebook and follow Richard Butler Creagh on Twitter.

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