14 May 2021

First Time Property Buyer? Why you need to act FAST

First time buyer?

2021 has been a good year so far for first time buyers with the re-introduction of 95% mortgages.

Mortgage availability is high and lenders are doing the best to help. The government has re-introduced the help to buy scheme.

So all is good right? NO
The problem now is there isn’t enough supply in the property market to meet demand.

If you are looking to buy right now you must be ready to act very quickly.

Estate Agents know full well that properties coming onto the market at first time buyer prices will be snapped up very quickly.

Some agents are offering just a 3-4 day window of viewing opportunities and asking potential buyers to make an offer in writing by email by a given deadline.

Some first time buyers are actually begging sellers to chose them as the preferred buyer.

Naturally competition is high and many buyers are over bidding the asking price to secure the property they want.


1.    Have you saved enough deposit? If you don’t have the full deposit ready you will not be able to proceed and will lose out to a more savvy first time buyer who has prepared everything in advance.

2.    Do you hold a mortgage offer or mortgage offer in principle?  You MUST have a document showing a mortgage provider has approved you for a mortgage and the document shows the maximum amount they will advance.

3.    The mortgage application process needs to be smooth and quick to process. The advantage of going through a mortgage adviser makes life so much easier.

Remember to make sure you have already spoken to a solicitor or conveyancer.
When you make an offer to buy your first house, don’t set yourself up to be disappointed by not being prepared.

If you are thinking about stepping onto the property ladder or would like a conversation to help you through the process please send me a message.

I'm here to help sellers, buyers, landlords, and tenants.

Call me or drop me a message if you think I might be able to help you.


The Good Estate Agent – North Nottinghamshire
Tel: 01777 237310 or 07981 744003


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