Starting the journey to buy your first home can be an exciting yet overwhelming process. Understanding the common mistakes many first-time buyers make can help you avoid potential setbacks and navigate the process more smoothly. Whether you’re dealing with existing debts or choosing between working with a bank or a mortgage adviser, the choices you make can have a significant impact on your mortgage application. You’ll also learn how to prepare when you’re ready to apply mortgage and improve your chances of approval.
In this video, we dive into key considerations for first home buyers, from understanding the required documents to deciding whether to refix your mortgage or wait for changes in the OCR. We also discuss how to improve your mortgage application, what to do if your application gets rejected, and how working with an adviser might affect your interest rate. Watch the video for helpful tips on avoiding common mistakes and ensuring a successful experience when you apply for a mortgage.
Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact an adviser from mortgagehq.
