My boyfriend and I are thinking of buying our first home, I'm a student, therefore minimal income (until summer 2008), he works, and we know nothing about buying property. We started saving up recently and have a few hundred pounds but from now on we want to start saving more every month until next year, when we want to get a mortgage.
I have seen banks offer mortgages with 0% deposit required, should I be wary of these? How about interest only mortgages? There's so many types of mortgages, it's hard to figure out the advantages and disadvantages of all.
Apart from a deposit, what other kind of money allowances should we make (I know we should put money aside for stamp duty, furniture and repairs/diy for the new house). Is there anything else we should think about?
Any other useful information?
Thanks!
2007-01-05
05:12:59
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22 answers
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asked by
Happee
4