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. 

Our Score
Our Reader Score
[Total: 1 Average: 5]

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
More and more investors are deciding to buy properties within a Limited Company to keep things tax efficient. ⁣
⁣
But when it comes to refinancing or purchasing a new investment property, the process of getting a mortgage can feel challenging.⁣
⁣
But not anymore!⁣
⁣
Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They'll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣
⁣
Visit our website to learn more (🔗 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.⁣
⁣
Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert.⁣
⁣
...⁣
⁣
#buytolet #mortgageadvice #mortgagebroker #propertyinvestment #limitedcompanybuytolet #propertyinvesting #buytoletmortgage

More and more investors are deciding to buy properties within a Limited Company to keep things tax efficient. ⁣

But when it comes to refinancing or purchasing a new investment property, the process of getting a mortgage can feel challenging.⁣

But not anymore!⁣

Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣

Visit our website to learn more (🔗 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.⁣

Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert.⁣

...⁣

#buytolet #mortgageadvice #mortgagebroker #propertyinvestment #limitedcompanybuytolet #propertyinvesting #buytoletmortgage
...

0 0
All lenders have different forms of acceptable income. ⁣
⁣
Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;⁣
⁣
👉 Zero hours contacts⁣
👉 Foster parent income⁣
👉 Rental income⁣
👉 DWP income & allowances⁣
👉 Irregular commission⁣
👉 Bonuses & shift allowances⁣
⁣
By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income. ⁣
⁣
Give us a call on 0800 612 5596 or tap 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.⁣
⁣
...⁣
⁣
#buyingahouse #homebuyersguide #moneyeducation #housebuying #mortgagetips #mortgageadvice

All lenders have different forms of acceptable income. ⁣

Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;⁣

👉 Zero hours contacts⁣
👉 Foster parent income⁣
👉 Rental income⁣
👉 DWP income & allowances⁣
👉 Irregular commission⁣
👉 Bonuses & shift allowances⁣

By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income. ⁣

Give us a call on 0800 612 5596 or tap 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.⁣

...⁣

#buyingahouse #homebuyersguide #moneyeducation #housebuying #mortgagetips #mortgageadvice
...

0 0
Tired of trawling through mortgage deals?⁣
⁣
Let us guide you through your options and help you find the right mortgage for your needs.⁣
⁣
We have access to a comprehensive panel of lenders to ensure we research the most suitable mortgage solution for your situation.⁣
⁣
And we'll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.⁣
⁣
The best bit? We don't charge a broker fee! ⁣
⁣
Get in touch for a chat on 0800 612 5596 or tap 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.⁣
⁣
⁣
...⁣
⁣
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists

Tired of trawling through mortgage deals?⁣

Let us guide you through your options and help you find the right mortgage for your needs.⁣

We have access to a comprehensive panel of lenders to ensure we research the most suitable mortgage solution for your situation.⁣

And we`ll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.⁣

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

Get in touch for a chat on 0800 612 5596 or tap 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.⁣


...⁣

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

0 0
To move or not to move? That is the question!⁣
⁣
Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:⁣
⁣
✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.⁣
⁣
✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.⁣
⁣
✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.⁣
⁣
❌ Cost of moving - Moving home can be an expensive process, especially if you’re hiring professional help to do the heavy lifting. ⁣
⁣
❌ Packing and unpacking - If you’re not prepared for the amount of work involved, it can be very overwhelming.⁣
⁣
❌ Adjusting to a new home - Adjusting to a new home can be difficult, especially if you’re used to your current surroundings. ⁣
⁣
...⁣
⁣
#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes

To move or not to move? That is the question!⁣

Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:⁣

✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.⁣

✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.⁣

✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.⁣

❌ Cost of moving - Moving home can be an expensive process, especially if you’re hiring professional help to do the heavy lifting. ⁣

❌ Packing and unpacking - If you’re not prepared for the amount of work involved, it can be very overwhelming.⁣

❌ Adjusting to a new home - Adjusting to a new home can be difficult, especially if you’re used to your current surroundings. ⁣

...⁣

#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes
...

1 0
If you’re self-employed and looking to get a mortgage, there's a few things you should take into account. ⁣
⁣
👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability. ⁣
⁣
👉 They will also ask for additional information, such as bank statements and invoices.⁣
⁣
👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you. ⁣
⁣
We're here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat. ⁣
⁣
We are available outside usual working hours, and 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.⁣
⁣
⁣
...⁣
⁣
#selfemployedmortgages #selfemployed #bournemouthbusiness #smallbusiness #mortgagetips #mortgagesuk

If you’re self-employed and looking to get a mortgage, there`s a few things you should take into account. ⁣

👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability. ⁣

👉 They will also ask for additional information, such as bank statements and invoices.⁣

👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you. ⁣

We`re here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat. ⁣

We are available outside usual working hours, and 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.⁣


...⁣

#selfemployedmortgages #selfemployed #bournemouthbusiness #smallbusiness #mortgagetips #mortgagesuk
...

0 0
"I'd heard about Yes Mortgages via word of mouth and hadn't heard a bad word word, now I know I why."⁣
⁣
Maybe you’re looking to buy your first home. Or refinance the one you’re already in 🏡. No matter your situation, our personal goal is to see that it ends with you getting the loan you need when you need it. At the rate you deserve. And with a level of care beyond anything you expect 🌟⁣
⁣
Tap 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.⁣
⁣
...⁣
⁣
#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee

"I`d heard about Yes Mortgages via word of mouth and hadn`t heard a bad word word, now I know I why."⁣

Maybe you’re looking to buy your first home. Or refinance the one you’re already in 🏡. No matter your situation, our personal goal is to see that it ends with you getting the loan you need when you need it. At the rate you deserve. And with a level of care beyond anything you expect 🌟⁣

Tap 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.⁣

...⁣

#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
...

2 0
What's the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much. ⁣
⁣
But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly). ⁣
⁣
We don't charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM⁣
⁣
...⁣
⁣
⁣
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.⁣
⁣
...⁣
⁣
#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse

What`s the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much. ⁣

But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly). ⁣

We don`t charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM⁣

...⁣


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.⁣

...⁣

#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse
...

1 0
Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.⁣
⁣
But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯⁣
⁣
Well, we're here to do the legwork for you...⁣
⁣
We'll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.⁣
⁣
The best bit? We don't charge a broker fee!⁣
⁣
Call us for a chat on 0800 612 5596, or visit our website for more info (link 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.⁣
⁣
...⁣
⁣
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry

Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.⁣

But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯⁣

Well, we`re here to do the legwork for you...⁣

We`ll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.⁣

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

Call us for a chat on 0800 612 5596, or visit our website for more info (link 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.⁣

...⁣

#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry
...

1 0
What is an agreement in principle, and do you need one? 🤔⁣
⁣
An agreement in principle is a statement offered by lenders to give you an estimate of how much they're likely to lend you.⁣
⁣
Having one will help you narrow down your house hunt to those properties in your price range and will help you prove to sellers and agents that you’re a serious buyer. ⁣
⁣
Learn more about the world of mortgages on our blog (🔗 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.⁣
⁣
...⁣
⁣
#agreementinprinciple #firsttimehomebuyertips #firstimebuyer #homebuyingprocess #buyingyourfirsthome #househuntingadventures

What is an agreement in principle, and do you need one? 🤔⁣

An agreement in principle is a statement offered by lenders to give you an estimate of how much they`re likely to lend you.⁣

Having one will help you narrow down your house hunt to those properties in your price range and will help you prove to sellers and agents that you’re a serious buyer. ⁣

Learn more about the world of mortgages on our blog (🔗 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.⁣

...⁣

#agreementinprinciple #firsttimehomebuyertips #firstimebuyer #homebuyingprocess #buyingyourfirsthome #househuntingadventures
...

1 0
If you're about to buy your first home, you've probably heard a lot about home insurance. But what is it, and do you need it?⁣
⁣
There are two parts to home insurance: ⁣
⁣
🏠 Buildings insurance covers the structure or fabric of your house; the walls, roof, windows, floors, and often fixtures and fittings too. ⁣
⁣
🛋 Contents insurance is for things like furniture, TVs and personal belongings. ⁣
⁣
A simple way of putting it; if you turned your house upside down, contents insurance would cover you against the belongings that fall out of it. Buildings insurance should cover the rest.⁣
⁣
Mortgage lenders insist you take out buildings insurance when you exchange contracts. ⁣
⁣
And while you don't need Contents Insurance to buy a house, it might offer peace of mind to have it (particularly given that the average household owns around £35,000 of stuff!). ⁣
⁣
If you need help finding the right policy, our insurance advisor Kelly is available. Send us a message or call 0800 612 5596.

If you`re about to buy your first home, you`ve probably heard a lot about home insurance. But what is it, and do you need it?⁣

There are two parts to home insurance: ⁣

🏠 Buildings insurance covers the structure or fabric of your house; the walls, roof, windows, floors, and often fixtures and fittings too. ⁣

🛋 Contents insurance is for things like furniture, TVs and personal belongings. ⁣

A simple way of putting it; if you turned your house upside down, contents insurance would cover you against the belongings that fall out of it. Buildings insurance should cover the rest.⁣

Mortgage lenders insist you take out buildings insurance when you exchange contracts. ⁣

And while you don`t need Contents Insurance to buy a house, it might offer peace of mind to have it (particularly given that the average household owns around £35,000 of stuff!). ⁣

If you need help finding the right policy, our insurance advisor Kelly is available. Send us a message or call 0800 612 5596.
...

0 0
We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣
⁣
That's why we don't charge a broker fee 🤩⁣
⁣
You won't pay us a penny for our services! ⁣
⁣
We'll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you're remortgaging, moving home, or making any subsequent property purchase, we've got you covered.⁣
⁣
Visit our website (🔗 in 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.⁣
⁣
...⁣
⁣
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists

We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣

That`s why we don`t charge a broker fee 🤩⁣

You won`t pay us a penny for our services! ⁣

We`ll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you`re remortgaging, moving home, or making any subsequent property purchase, we`ve got you covered.⁣

Visit our website (🔗 in 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.⁣

...⁣

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

1 0
Let us find the right property finance to fund your investment portfolio...⁣
⁣
We know a buy-to-let investment can be a big commitment, so our dedicated mortgage advisers will help you consider the costs, responsibilities, and risks whether you’re starting or expanding your investment property portfolio.⁣
⁣
Have a chat with one of our buy-to-let mortgage experts 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.⁣
⁣
...⁣
⁣
#propertyinvestmentuk #buytolet #ukproperty #ukpropertyinvestor #landlordsecrets #investmentproperty

Let us find the right property finance to fund your investment portfolio...⁣

We know a buy-to-let investment can be a big commitment, so our dedicated mortgage advisers will help you consider the costs, responsibilities, and risks whether you’re starting or expanding your investment property portfolio.⁣

Have a chat with one of our buy-to-let mortgage experts 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.⁣

...⁣

#propertyinvestmentuk #buytolet #ukproperty #ukpropertyinvestor #landlordsecrets #investmentproperty
...

1 0