Planning to purchase a home this year? 5 tips to help you get ahead of the game.

7 January 2022

1. Make sure you have a Lifetime ISA

If you’re a first-time buyer aged 18 to 39, you could get up to £32,000 from the Government by opening a new Lifetime ISA, which launched in April 2017.

You can save up to £4,000 a year into the LISA either as a lump sum or by putting in cash when you can. Then the government will add a 25% bonus on top if you use it towards your first home (or retirement). So if you save the full £4,000 you’ll have £5,000. And that’s before interest or growth. Remember, you need to have had the LISA open for at least 12 months to get the bonus cash for your first home.

2. Boost your credit score 

Don’t apply for mortgages before checking your credit files are error-free. The smallest mistakes can cause rejection. For example, active accounts registered to old/wrong addresses can hurt badly, so whip through your credit files and ensure any active account (even historic and unused) is registered at the correct address.

3. View at different times of day

View the place three times at different times of the day to get an idea of what the property and neighbourhood are like.
Daylight makes spotting flaws easier, but the pounding music that will make your life hell may not begin until the neighbours get back from work.

4. Ask the right questions. 

Purchasing a home may be the biggest financial transaction you make in your lifetime. There are no “dumb questions” but there are some questions better than others. Read our guide on what to ask when viewing a home here! Most agents are more than happy to answer all your questions, and if they aren’t – they may not be the right fit for you. 

5. Take pictures and notes when viewing.

Take photos on your mobile, as they’ll be a useful reference point when all the homes blur into one. If possible, take a notepad to jot down things you may be concerned about so when you come back with a surveyor you can ensure your worries or concerns are attended to. 

This list is by no means exhaustive but may give you some food for thought before you start the home buying process for yourself. Remember to do plenty of your own research and shop around for the best deals. For more information or to view the properties we have on offer, get in touch today for more information.