The process of investing in a new-build
1. Get the funds if you wish
Seek guidance from an experienced mortgage adviser on just how much you may manage to borrow. By doing this, you are going to know precisely that which you can manage before starting likely to see properties which can be out of your reach.
It could be useful to have a home loan agreement in theory (AIP) before starting house-hunting, especially if you are a buyer that is first-time.
It is a document from a home loan lender confirming you a mortgage for a certain amount, which you can use to prove to the developer that you’ll be able to afford the property that they will, ‘in principle’, give.
2. Find a house
The next thing is to locate a development you love the look of. If you should be hoping to obtain a help purchase equity loan, you’ll need to check that the growth is taking part in the scheme.
Ensure you study the region, regional amenities and designer’s background for delivering top-notch properties on time. [Read more…] about Find out of the professionals and cons of getting a new-build home or flat, just exactly how new-build mortgages work