Ndubuisi 'Andy' Egwim walks through what first-time home buyers should do before applying for a mortgage. Start by budgeting and figuring out how much you can spend, then talk to a mortgage advisor early, ideally six months before you're ready to buy. They'll check what you can actually afford.
If you are ready to take the plunge and you want to apply for your first mortgage, let's look at the nitty gritty and let's walk you through the steps, step by steps. Now, basically the first thing you want to start when you want to start applying for your mortgage, we've talked about budget, you've decided how much you want to spend, how much house you want to buy, and again, applying for a mortgage, it doesn't need to be an uphill task if you have the right guidance. The first thing I think I'll do and that's what I'll do next, each time I'm buying a house and that's what I'll suggest, would speak to a mortgage advisor. You don't need to wait till you're ready. When you're already planning it, you think it'll be in the next six months, speak to a mortgage advisor, get some advice, find out what sort of mortgage you can get. So we usually offer you a face to face meeting or a telephone or video meeting and sort of walk through things with you like what's the affordability. They might do eligibility checks.
