Mortgage advice can help home buyers budget effectively

07-Apr-2010

Almost a quarter of people buying a home may be wise to use the services of a mortgage advisor.

New research by unbiased.co.uk shows that 24 per cent of homebuyers are unaware of exactly how much purchasing a property will cost them.

And nine per cent believe additional fees will total £1,000 - when, in reality, this amount can be spent on conveyancing fees alone.

Karen Barett, chief executive at the website, says: "Consumers should ensure they seek advice from a whole of market mortgage advisor so they are fully aware of all the costs involved in house buying before they find themselves out of pocket."

Seeking mortgage advice can help people to budget effectively for costs such as a survey, solicitors' fees, stamp duty and a local, environmental and water search.

Chancellor Alistair Darling may have put the stamp duty threshold for first-time buyers up to £250,000, but leaking cash elsewhere could cause its effect to be severely weakened.

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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