It's not an easy situation to find yourself in, but it's one that we encounter a lot often. The dilemma between renting and buying. According to a recent study by Halifax 372,000 first-time buyers made the leap into the market last year. This is equivalent to half of the house purchases that require mortgage. It marks the first time in 1995 First-Time Buyers account for such a significant portion of the market, demonstrating the power of the market for first-time buyers in kingdom valley.

The way to climb the ladder of property

Most often, people moving into homes are unsure of whether to move or not (e.g. "I am a fan of my neighbors however, I'd like an additional room"). This is in contrast to the majority of potential First Time buyers who when you ask them they'd like to be on the property ladder in the near future. They have a strong determination to get there. these people.

Because of the desire to own a home and homeowners, they are not deterred by external influences such as current political events. While the market for housing does have its peaks and valleys, it is not a problem for those who are looking to climb the ladder of property.

The purchase of a home should always be considered an investment that is long-term. While it may not be ideal if the property decreases in value, the past suggests that if that occurs, the value will back upwards in the long term.

Therefore, buying is always more beneficial than renting, isn't it?

No, not necessarily. It's not always the best solution. It may be a shock however, we often advise young people to rent their homes when they move out of the house, particularly if they are married. This is to ensure that they will know what kind of home they would like and whether they are able to live together. However, if you pay rent it's more difficult to save up for deposits, which is a bit of an unintended catch-22.

It's important to note that getting rid of a mortgage is challenging and can be costly. So, it is important to ensure that everything is going to go according to plan prior to signing a contract.

Small deposit mortgages

95 percent mortgages are more easily accessible than they were in the past. If you're closer than halfway to having your deposit of 5 and you're not sure, it's worth trying to have an Agreement in Principle in the first place. This will allow you to verify whether you'll be eligible to get an mortgage when the time arrives.