publication date: Nov 1, 2011
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
How Can I Buy a House?
The Best Mortgage Deals
We are regularly answering consumer property questions for FREE via our Property Forum.
Here's an example of just one of the many property questions we have recently answered:-
Q - Five years ago, a friend and I were able to buy a two bed flat by combining our salaries and obtaining a key worker loan.
We now wish to go separate ways and I am hoping to buy a property with my partner. However, due to the shared property bought only with the help of a key worker loan, I am not considered a first time buyer and I only have £3,000 in savings.
We are unable to save massively due to high living costs and although I am in the position of being a first time buyer we cannot benefit from any of the incentives or mortgage deals out there. What can we do. SEE THE FULL QUESTION HERE
A - Like many potential purchasers, saving for a deposit can be very difficult. We would suggest that you have a serious review of your finances via an Independent Financial Advisor (IFA) as they may find that taking all your income and expenditure into account, there could be some extra savings to make that could enhance your deposit.
Once you have had your finances reviewed, discuss your situation with a mortgage broker to establish what your options are. FULL ANSWER CONTINUES HERE!
Also take a look at some of our other related articles:-
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