Today I’ve been looking at properties for the First time buyers, getting on the property ladder is certainly not easy, but with 2 good incomes this can easily be achieved. So I’ve put together a small guide to help those thinking of making the big leap into home ownership.
1. One Bedroom house
This home costing £230,000 would need a deposit of £23,000, so over 25 years at an interest rate of 2.4% would cost £919 per month
2. One bedroom end of terraced home
This home costing £10,000 more than the first one, with a 10% deposit of £24,000 would cost £959 per month over the 25 years at 2.4%
3. Two Bedroom terraced home
Finally I have chosen this Two bedroom home, with a 10% deposit of £28,000 the mortgage over 25 years at 2.4% would be costing around £1,118 per month,
I hope that helps people to understand the price that you’d expect to pay.
Good luck with your house hunting!!!!