Navigating the home-buying process

Are you navigating the home-buying process, well here are some of the ways to avoid common first-time buyer mistakes.

Buying a new home is an exciting time, but it can also be a little intimidating if you don’t have the right knowledge and support to help you through the process. When you’re navigating the homebuying process for the first time, there are bound to be some obstacles to overcome. But many of the most common first-time buyer mistakes can be avoided if you are aware of them. Here are four major pitfalls and how to evade them.

AVOID MORTGAGE REJECTION

A common mistake is applying for a mortgage without first checking your credit report. This could lead to your application being rejected for issues that are easy to fix. You can obtain your credit report from a service such as Experian or Equifax. If there are incorrect items on your credit report, you can ask for them to be removed. If there are items that are correct, but not representative of your current financial situation (for example, an unpaid bill during a previous period of unemployment), you can also ask to add a notice of correction. You are permitted to submit a short explanation of up to 200 words.

AVOID GOING OVER BUDGET

Often, first-time buyers have saved enough for their deposit, but haven’t considered all the extra costs which put a strain on their budget. These can include:

  • Stamp Duty Land Tax (SDLT), if you’re buying a property worth more than £300,000 in England or Northern Ireland. If you’re buying a property in Scotland, you will pay Land and Buildings Transaction Tax (LBTT) and in Wales Land Transaction Tax (LTT) instead of Stamp Duty
  • Mortgage arrangement fees, which can run into thousands of pounds
  • Solicitor or conveyancing fees, to pay to manage the transaction for you
  • Insurance, including buildings insurance (which is essential to secure a mortgage) and other types of insurance to ensure you don’t lose your home if your financial situation changes These extra costs could potentially add up to around £15,000, so you might need to save up a little longer before you’re ready to buy.

AVOID COSTLY PROPERTY PROBLEMS

As a first-time buyer, you might not be aware of all the things that can go wrong with a home, and they’re not always visible.

For example:

  • An old boiler may need to be replaced soon after you buy the property, costing thousands
  • Poor insulation in the roof and walls can add to your energy bills in winter
  • Missing roof tiles can lead to leaks and potentially expensive water damage It can help to take someone with more experience along to viewings, but they might also easily miss some issues. A professional survey, though it will cost several hundred pounds to arrange, will identify any potential issues and could save you a lot of money over the long term.

AVOID GOING THROUGH IT ALONE

Many first-time buyers try to manage the whole process themselves, even though expert advice is easily available. Obtaining expert financial advice can help you to understand how much you can realistically afford to borrow and repay, so you don’t overstretch yourself. A professional mortgage broker can help you create a plan to save a bigger deposit, or a budget so that you can afford all of your monthly mortgage repayments while continuing to save for the future. They will help you find an appropriate mortgage deal to minimise your monthly repayments and can give you access to a wider range of products than if you were to research the market yourself and look at a lender’s offerings. It’s also likely they will be connected to a professional network within the sector, and they may even be able to offer products that aren’t available to the general public. You will also be guided through the process of applying for a mortgage to avoid time-wasting rejections, get help with paperwork and you won’t have to handle the application. In many cases, first-time buyers will easily recoup the cost of this expert mortgage advice in the savings it brings them.

FIND THE RIGHT MORTGAGE FOR YOU – We’ve got everything you need to make finding a mortgage straightforward. For further information about how we can help. We have a number of blogs that will help you get onto the property market – check out this one about common home buying anxieties. 

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At Yes Mortgage Services, we offer a comprehensive range of products from across the market.

Irrespective of whether you are looking to buy a new home, re-mortgage an existing property, or looking to protect your family from the unpredictability that life throws at it or protect your income if you are unable to work due to accident or ill health.

Yes Mortgage Services are committed to offering you the highest possible standards of service. We can undertake the whole process from answering the initial questions through to handling multiple product applications. Ensuring that everyone gets treated with the same urgency and maintaining your best interests are our main goals irrespective of the value of the mortgage.

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspect of our dealings with you.

Yes Mortgage Services

Contact Us

YES Mortgage Services Limited
The Old Barn
Brooklands Farm
Mannington
Wimborne
BH21 7JU

Hours
Monday – Friday 0900 – 1700

Contacts
0800 612 5596
[email protected]

We don’t charge a broker fee

We are on Instagram
Being a small team that really loves helping people buy, remortgage, and protect their homes, we couldn't be more proud to be rated 5 stars on Trustindex! 🌟 With over 230 reviews from happy clients, it just goes to show the care and expert knowledge our team put into their work.⁣
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And the best bit? We don't charge a broker fee!⁣
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Tap the link in our bio to learn more, or give us a call on 0800 612 5596 to arrange a chat. ⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#mortgageadvisor #nobrokerfee #dorset #mortgagesmadesimple #dorsetbusiness #ukpropertymarket

Being a small team that really loves helping people buy, remortgage, and protect their homes, we couldn`t be more proud to be rated 5 stars on Trustindex! 🌟 With over 230 reviews from happy clients, it just goes to show the care and expert knowledge our team put into their work.⁣

And the best bit? We don`t charge a broker fee!⁣

Tap the link in our bio to learn more, or give us a call on 0800 612 5596 to arrange a chat. ⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

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#mortgageadvisor #nobrokerfee #dorset #mortgagesmadesimple #dorsetbusiness #ukpropertymarket
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It's no secret that improving your home is a great way to increase it's value, and the benefits extend beyond the indoors.⁣
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By transforming your outdoor space, you will add value and create an inviting oasis for entertaining and unwinding.⁣
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Need to free up some cash to bring your dream space to life? A remortgage could be the solution!⁣
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Get in touch and we'll evaluate your situation and help you make informed decisions on the remortgage options available to you. ⁣
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And did we mention - we don't charge a broker fee!⁣
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Send us a DM or call us on 0800 612 5596 to chat with one of our mortgage advisors.⁣
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#loveproperty #houseowner #homeownerlife #homeownertips  #homeimprovement #loveyourhome #moneymanagementtips

It`s no secret that improving your home is a great way to increase it`s value, and the benefits extend beyond the indoors.⁣

By transforming your outdoor space, you will add value and create an inviting oasis for entertaining and unwinding.⁣

Need to free up some cash to bring your dream space to life? A remortgage could be the solution!⁣

Get in touch and we`ll evaluate your situation and help you make informed decisions on the remortgage options available to you. ⁣

And did we mention - we don`t charge a broker fee!⁣

Send us a DM or call us on 0800 612 5596 to chat with one of our mortgage advisors.⁣

...⁣

#loveproperty #houseowner #homeownerlife #homeownertips #homeimprovement #loveyourhome #moneymanagementtips
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Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your homeownership dreams can become reality!⁣
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Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#nonstandardconstruction #thatchedroof #gradeii #thatchedcottage #housebuying #mortgagetips #ukmortgages #mortgagespecialists

Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your homeownership dreams can become reality!⁣

Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#nonstandardconstruction #thatchedroof #gradeii #thatchedcottage #housebuying #mortgagetips #ukmortgages #mortgagespecialists
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There's no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:⁣
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👉 The cost of the property you're looking to purchase.⁣
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👉 The size of your deposit.⁣
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👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.⁣
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These factors, combined, will determine your eligibility and help shape the amount you can borrow. ⁣
⁣
We know navigating the mortgage process can be overwhelming, but we're here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage. ⁣
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Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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⁣
...⁣
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#buyingahouse #mortgageadvice #mortgagetips #mortgagebroker #firsttimebuyertips

There`s no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:⁣

👉 The cost of the property you`re looking to purchase.⁣

👉 The size of your deposit.⁣

👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.⁣

These factors, combined, will determine your eligibility and help shape the amount you can borrow. ⁣

We know navigating the mortgage process can be overwhelming, but we`re here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage. ⁣

Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣


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#buyingahouse #mortgageadvice #mortgagetips #mortgagebroker #firsttimebuyertips
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We'll NEVER charge you a broker fee!⁣
⁣
As a company, we believe everyone should have access to quality financial advice, regardless of their financial status 🤝 ⁣
⁣
Visit our website to learn how we can help you find the right mortgage for your needs (🔗 in bio)⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee

We`ll NEVER charge you a broker fee!⁣

As a company, we believe everyone should have access to quality financial advice, regardless of their financial status 🤝 ⁣

Visit our website to learn how we can help you find the right mortgage for your needs (🔗 in bio)⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
...

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There are so many types of insurance out there 🤯 It can be hard to know what type of protection is needed for you and your family. But we're here to help.⁣
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Here's how it works:⁣
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1.  We'll have a chat to really get a good idea of who you are, your lifestyle, your dependants and your plans. ⁣
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2. We'll analyse the information you've given us to determine the kind of policies suitable for you. ⁣
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3. We'll search all the available protection policies from the UK’s top insurers and make a shortlist of those that provide the right cover for your needs.⁣
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4. We'll guide you through the shortlist and answer any questions you might have. If you want to proceed, we'll deal with the insurers on your behalf to get your policies in place.⁣
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Check out the link in our bio for more information, or call us on 0800 612 5596 for a chat.⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
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#insurancebroker #homeinsurance #lifeinsurance #contentsinsurance #incomeprotection #criticalillnesscover #buildingsinsurance

There are so many types of insurance out there 🤯 It can be hard to know what type of protection is needed for you and your family. But we`re here to help.⁣

Here`s how it works:⁣

1. We`ll have a chat to really get a good idea of who you are, your lifestyle, your dependants and your plans. ⁣

2. We`ll analyse the information you`ve given us to determine the kind of policies suitable for you. ⁣

3. We`ll search all the available protection policies from the UK’s top insurers and make a shortlist of those that provide the right cover for your needs.⁣

4. We`ll guide you through the shortlist and answer any questions you might have. If you want to proceed, we`ll deal with the insurers on your behalf to get your policies in place.⁣

Check out the link in our bio for more information, or call us on 0800 612 5596 for a chat.⁣


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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#insurancebroker #homeinsurance #lifeinsurance #contentsinsurance #incomeprotection #criticalillnesscover #buildingsinsurance
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Let's dive into some of the benefits of switching to a new mortgage:⁣
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👉🏻 Remortgaging can allow you to take out a new loan with lower monthly repayments, reducing your outgoings and making your home 🏡 more affordable.⁣
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👉🏻 Remortgaging might mean you find a loan you could pay off more quickly ⏱, through making larger monthly repayments. ⁣
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👉🏻 If your home has increased considerably in value since you took out your original mortgage 💰, you could now be enjoying a lower rate of interest. ⁣
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👉🏻 If you need to borrow money for, say, home improvements 🔨or to buy a new car 🚘, or you’d like to consolidate your loans, remortgaging can allow you to do it.⁣
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Our Mortgage Advisors can evaluate your unique situation, helping you to make an informed decision on costs and savings. We'll do the paperwork for you and we'll be there to decipher the jargon and answer any questions you might have.⁣
⁣
Oh and did we mention we don't charge a broker fee! 🤩⁣
⁣
Send us a DM or call us on 0800 612 5596 to chat to one of our mortgage advisors.⁣
⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #mortgagetips

Let`s dive into some of the benefits of switching to a new mortgage:⁣

👉🏻 Remortgaging can allow you to take out a new loan with lower monthly repayments, reducing your outgoings and making your home 🏡 more affordable.⁣

👉🏻 Remortgaging might mean you find a loan you could pay off more quickly ⏱, through making larger monthly repayments. ⁣

👉🏻 If your home has increased considerably in value since you took out your original mortgage 💰, you could now be enjoying a lower rate of interest. ⁣

👉🏻 If you need to borrow money for, say, home improvements 🔨or to buy a new car 🚘, or you’d like to consolidate your loans, remortgaging can allow you to do it.⁣

Our Mortgage Advisors can evaluate your unique situation, helping you to make an informed decision on costs and savings. We`ll do the paperwork for you and we`ll be there to decipher the jargon and answer any questions you might have.⁣

Oh and did we mention we don`t charge a broker fee! 🤩⁣

Send us a DM or call us on 0800 612 5596 to chat to one of our mortgage advisors.⁣


...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #mortgagetips
...

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Our expert team have access to a comprehensive panel of lenders, ensuring we find the right mortgage solution tailored to your needs. ⁣
⁣
We'll guide you every step of the way, answering your questions and making the process as painless as possible. But don't just take our word for it, here's what Bella had to say:⁣
⁣
"The service Andy provided was flawless. Andy is super efficient, extremely knowledgeable & personable. He was always available to answer any questions I had throughout the process & helped me get the best mortgage possible allowing me to buy my new home. ⁣
⁣
Thank you so much Andy for all your help, advice & support."⁣
⁣
Want to see more? Tap the link in our bio.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists

Our expert team have access to a comprehensive panel of lenders, ensuring we find the right mortgage solution tailored to your needs. ⁣

We`ll guide you every step of the way, answering your questions and making the process as painless as possible. But don`t just take our word for it, here`s what Bella had to say:⁣

"The service Andy provided was flawless. Andy is super efficient, extremely knowledgeable & personable. He was always available to answer any questions I had throughout the process & helped me get the best mortgage possible allowing me to buy my new home. ⁣

Thank you so much Andy for all your help, advice & support."⁣

Want to see more? Tap the link in our bio.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
...

1 0
Upsizing can be expensive, so it's crucial to know your budget and what kind of property you can actually afford. ⁣
⁣
When it comes to mortgages, it may be tempting to stick with your current lender, but it's wise to explore your options. Because shopping around can pay off big time! ⁣
⁣
Even a mortgage with slightly better terms could save you thousands down the road or provide you with more flexible and affordable ways to pay it off ahead of time.⁣
⁣
If you'd like to discuss your mortgage options with one of our experts, give us a call on 0800 612 5596. We don't charge a broker fee!⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#upsizing #movinghome #devonproperty #savingmoney #mortgagebroker

Upsizing can be expensive, so it`s crucial to know your budget and what kind of property you can actually afford. ⁣

When it comes to mortgages, it may be tempting to stick with your current lender, but it`s wise to explore your options. Because shopping around can pay off big time! ⁣

Even a mortgage with slightly better terms could save you thousands down the road or provide you with more flexible and affordable ways to pay it off ahead of time.⁣

If you`d like to discuss your mortgage options with one of our experts, give us a call on 0800 612 5596. We don`t charge a broker fee!⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#upsizing #movinghome #devonproperty #savingmoney #mortgagebroker
...

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🏡 Ready to build your dream home? You'll need a self-build mortgage that's right for you...⁣
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With most self-build mortgages, the money is paid out after each stage of completion. But did you know that some self-build mortgages release the money required at the start of each stage? ⁣
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This is particularly useful if you don't have the cash up front to pay your builders or buy materials. ⁣
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Interest rates on self-build mortgages tend to be higher than on standard mortgages, so it's important to shop around before you decide which mortgage is right for you. ⁣
⁣
Let us help you find the right self-build mortgage to make your dream home a reality! ⁣
⁣
Send us a message, or give us a call on 0800 612 5596⁣
⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#selfbuildjourney #buildingourhome #buildingahouse #selfbuildhomes #housegoals #selfbuilduk #newbuildjourney #mortgagebroker #mortgagetips #southcoastuk

🏡 Ready to build your dream home? You`ll need a self-build mortgage that`s right for you...⁣

With most self-build mortgages, the money is paid out after each stage of completion. But did you know that some self-build mortgages release the money required at the start of each stage? ⁣

This is particularly useful if you don`t have the cash up front to pay your builders or buy materials. ⁣

Interest rates on self-build mortgages tend to be higher than on standard mortgages, so it`s important to shop around before you decide which mortgage is right for you. ⁣

Let us help you find the right self-build mortgage to make your dream home a reality! ⁣

Send us a message, or give us a call on 0800 612 5596⁣


...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#selfbuildjourney #buildingourhome #buildingahouse #selfbuildhomes #housegoals #selfbuilduk #newbuildjourney #mortgagebroker #mortgagetips #southcoastuk
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