Buyers offered first mortgage advice

19-Apr-2010

Published by Joshua Scott

People buying a home for the first time are among those to be warned not to overextend themselves when it comes to agreeing a loan for their property.

The first mortgage advice comes from the head of consulting at Ducalian Timothy Lambert and follows figures by the National Association of Estate Agents that show the number of properties being sold is on the up.

Indeed, the typical British estate agent agreed eight sales during March, rising from 6.8 in February.

But Mr Lambert noted the increase in activity should not act as a reason to start spending more than is affordable.

He said: "Whilst a variable mortgage may be cheap now, it will not stay that way forever and buyers must be aware of this before biting off more than they can chew."

Taking first mortgage advice prior to a purchase could be crucial in avoiding long-term difficulties in paying it back.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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