Buying a new home can be a stressful experience, where a lot of different things, such as booking a removal van, getting new
home insurance and finding the best local schools near a new home have to be considered.
But getting a mortgage can be one of the most confusing, meaning it might be a good idea for first-time buyers to seek advice before signing on the dotted line.
Director of MyMortgageDirect Catherine Hearnden says that it is "absolutely vital" for those taking their first step on to the property ladder to seek help with mortgages.
Overstretching on a mortgage could leave homeowners unable to pay for other essential home policies, such as home insurance.
A report published by Halifax this month suggested that some first-time buyers have little knowledge of terms surrounding mortgages.
In total, a third of those surveyed said that they didn't know what the mortgage term KFI (Key Facts Illustration) meant, with nearly 20 per cent saying they weren't sure what a completion date was.
Home insurance from
InsureandGo can provide first-time buyers with reassurance that should items in their new home be damaged, repairs will be quick and cheap.
