How to prepare for buying a property in the UK

Buying a property in the UK is a huge investment and most times a life time investment and as such must be approached carefully and with the utmost preparation. Below are key points that can help you prepare for buying a property in the UK;

PIPA property photo

  • Build up your savings by reviewing your expenditures downward to increase your disposable income.  If you’ve got loans or credit cards it makes sense to repay them first. This is because the interest you pay to borrow is usually higher than the interest you get on savings accounts.
  • Save for your deposit. Buying a property requires deposit and the more deposit you have the better change of getting a good mortgage deal.
  • Check your credit score and report to make sure its good enough for a mortgage loan. If not you should work towards improving it.

mortgage-imagery-homes-made-from-twenty-pound-notes

  • Plan your budget based on the most you may have to pay for a mortgage, try not to take the maximum mortgage on offer, and don’t forget to include mortgage related costs and fees.
  • Work out how long you could live on savings if you lost your job.
  • Check what benefits your employer will provide if you get ill.
  • Consider taking out insurance in case you are made redundant, get critically ill or have an accident.
  • Use mortgage calculator to work out how much a change in interest rates would affect your own loan.

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

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denecoblog

I am a Property/Energy Consultant TA DenEco Consultancy - www.deneco.co.uk: A friendly, energetic and adaptable individual with keen interest and aptitude for learning and motivating others, with great academic skills and work experience in both Life science and Environmental Management, seeking an opportunity to use his proven flair for teamwork and creativity in Property Purchase, Energy Efficiency, Environmental management for sustainable development and growth in any related sector or industry. I help individuals, businesses, SMEs and corporate clients save or make money in regards to Property investment, energy efficiency, environmental management solutions. The foundation of my experience is environmental protection. I have a passion for helping people, businesses and corporate organization achieve their dream through Property Investment and become more efficient and effective in their energy, and environmental management. I get satisfaction from knowing that the work am doing is helping make/save money and the environment.  Contact us @ www.deneco.co.uk Outside of work you can find me spending time with family, studying and researching for new opportunities and continuous development. Specialties: Property Investment, EPC provider, Energy Efficiency, Environmental  management.

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