If you are actively looking to buy your first house in Sheffield or looking to move up the Sheffield property ladder then you need to make sure you are ready to move quickly.
In the current market this means getting yourself financially ready. As moneysavingexpert advises, “few lenders offer actual mortgages if you’ve no property in place – they offer a ‘mortgage in principle’ (MIP). This provisionally lets you know how much you can borrow, subject to finding a suitable property in a specified time.
Proof of your deposit and MIP can give you a big advantage when putting in an offer. It may mean a credit check, though one mark on your file isn’t too big a deal. It’s best to talk to a decent mortgage broker who’ll often be able to help give an idea of what you can borrow. Do bear in mind MIPs give absolutely no guarantees – they are subject to valuation. Mortgage rates shift daily, so always check whether a better deal’s become available.”
It is also advisable to register with one of the credit reference agencies such as Experion so you can see the current state of your financial circumstances from the point of view of what the mortgage lenders will see. This may also flag up any issues that you need to address. Knowledge of this and taking the appropriate steps can make sure that you avoid any disappointments down the line and that you are ready and confident when you find the right property.
Here at Belvoir! Sheffield Estate Agents we can help and advise you based on your individual circumstances to make sure you are in the very best position, specifically in relation to the Sheffield property market.
Belvoir! Sheffield Estate Agents are leading Sheffield property experts and professionals, we know and understand this process inside out and if you buy a home through us we will help and advise you in order to keep the process on track and running smoothly.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit www.belvoirsheffield.com or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.com
For the most uptodate information relevant to landlords, vendors, and buyers of owner occupied and But to let property in Sheffield ensure you follow Belvoir! Sheffield on either Facebook Twitter or visit our website at https://www.belvoir.co.uk/service-levels/ or for selling https://www.belvoir.co.uk/sheffield-estate-agents/properties/for-sale/
