8
Feb
First-time buyers offered tips by estate agents and financial
advisers
First-time buyers have been offered a range of hints about how best
to approach the property market.
Advice website Unbiased.co.uk collated the helpful information from
estate agents and financial advisers around the UK.
A useful tip for those at the beginning of the house-hunting
process came from Melanie Bien of Savills Private Finance. She
recommended that buyers seek an "agreement in principle" from a
lender because this will outline how much can be borrowed.
"The other advantage is that vendors will take you more seriously,"
she added. This is because it demonstrates that a buyer will be
able to fund the purchase, reducing the likelihood of the chain
breaking.
James Carter from Independent James noted that first-time buyers
should focus on finding a home that they will be happy in for
several years, rather than worrying about receiving a high return
on investment.
In other related news, the Halifax House Price Index released on
February 4th revealed that property values increased by 0.6 per
cent in January compared with the previous month.