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Buying a House

Legal Knowledge (3)>House and Home (2)>Buying a House (7)

About this section

Whether you’re aiming for a sprawling country pile, or simply have your eye on a humble bungalow, buying a house is likely to be one of the biggest financial commitments you will ever make. The entire process involves a great deal of time and, sometimes, difficult decision making. Although exciting, the process is certainly not completed without some worry along the way.

The articles in this section take you through all the areas involved when buying your new property, including:

Things to Consider

It’s a fact…..

The average time from when a client submits their mortgage application through to the day of completion is currently around 13 weeks in the UK.

On top of the cost of the house itself there are many other one-off expenses which can cost between £2,000 and £5,000.

It is common for buyers to put down a deposit on a property; a mortgage lender will rarely pay the whole price of the house. Deposits are usually at least 10% of the value of the property. No deposit means higher mortgage repayments.

Lenders will usually allow you to borrow up to three times the size of your annual income, although some will lend you up to four times your income. If you are buying as a couple, this increases to either three times the first income plus one year of the second income, or two and a half times the joint income. You will have to provide proof of your salary to a lender

Articles in this Category

18/11/2008	FAQs - Buying a House
	Frequently asked questions - buying a house
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29/10/2008	Mortgage Lending
	The Council of Mortgage Lenders today [22 June 2009] updated its housing market forecast for 2009.
	Read More >>>

26/09/2008	The Purchase Process
	The purchase process explained including making an offer, chains and gazumping.
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26/09/2008	Freehold and Leasehold
	Freehold and Leasehold Explained
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26/09/2008	House Hunting and Estate Agents
	There are many ways to go about looking for your future home. Knowing where to look can make your search easier and less time consuming.
	Read More >>>

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