How Sez Sees It

Having just bought our first house I can tell you it can be confusing if you don't know when certain things need to happen. How can you put an offer in if you don't have a mortgage? How do you know how much mortgage you need if you don't have an offer accepted? When do you pay and how does it all work? Here is how we did it and this worked really well. Save Get your deposit sorted. House prices change all the time but keep your eye on costs and build up your deposit. I had 10% saved up and used that alongside mortgage calculators (see links in below item) to work out what we could borrow and afford to pay each month. This works the other way too and they can help you work out how much you need for a deposit. There are schemes which require only a 5% deposit ( Help to Buy ) but it is advisable to save up before approaching this scheme too. Remember, you will have to afford mortgage payments and payments to the provider too. Also bear in mind additional costs such as ...

I was brought up by accountants. By that I mean my parents were either full accountants or training. Even my brother has gone into accountancy and, while it was never a career path for me, I have learned a few things about savings and saving money. Here are a few of my tips and tricks (although this is my no means definitive). Savings accounts: There are loads out there and this can seem like a daunting thing. Use a comparison site such as Money Supermarket or Compare the Market (other comparison sites are available...search online for them first) to save time. If you have more time then make a list of banks you trust and go on their own webpages for more information. Often existing customers get preferential rates so if you have a current account see what savings that provider will do for you too. Remember though that most rates only last a year and then drop quite low so it might be worth having a look after a year to see what else is available. The best rates belong to fixed...