Buying your first home is an exciting milestone—but it can also feel overwhelming if you’re not sure where to begin. At Riach Financial, we’re passionate about helping first‑time buyers feel confident, informed, and financially prepared. Whether you’re just starting to browse or ready to make an offer, these simple, practical tips will help you get on the right track.
- Check Your Credit Score Early
Your credit score affects the mortgage deals you’ll be offered. A higher score can mean lower interest rates and better borrowing options.
Tips:
- Check your score with a free UK credit report service.
- Correct any errors that could be lowering your score.
- Reduce existing debt where possible.
We can send you a link for a free credit score.
- Understand How Much You Can Afford
Before you start viewing homes, it’s important to know your financial limits.
Consider:
- Your deposit size
- Monthly mortgage payments
- Other costs like solicitor fees, surveys, insurance, and moving costs.
At Riach Financial, we can help you work out a realistic budget based on your income and future plans.
- Save Smart for Your Deposit
The bigger your deposit, the better your mortgage options. Many first‑time buyers aim for at least 10%, but there are options with 5% deposits as well.
Helpful saving ideas:
- Set up a dedicated savings account
- Automate monthly deposits.
- Cut non-essential spending.
- Explore First-Time Buyer Schemes
The UK offers several initiatives to help make buying your first home more achievable.
We can guide you through which schemes you may be eligible for and how they could benefit you.
- Get a Mortgage Agreement in Principle (AIP)
An AIP shows estate agents and sellers that you’re serious and ready to buy. It also gives you clarity on how much a lender is willing to offer.
It’s quick to obtain—and Riach Financial can sort one for you with no fuss.
- Research Locations Thoroughly
Beyond the house itself, your chosen area plays a huge role in your long‑term happiness.
Think about:
- Transport links
- Local amenities
- School catchment areas (even if you don’t need them now)
- Crime rates
- Future development plans
- Don’t Skip the Home Survey
A survey can reveal issues you might not notice on viewings—from structural problems to outdated wiring. This insight can save you thousands and help with negotiation.
- Work with Professionals You Trust
A smooth home-buying journey comes down to having the right team behind you.
This usually includes:
- A mortgage adviser
- A solicitor or conveyancer
- A surveyor
At Riach Financial, we partner with trusted professionals and guide you throughout the process to keep everything simple and stress-free.
- Stay Realistic and Patient
Buying your first home can take time. You may face delays or make offers that aren’t accepted—but stay positive. The right property is worth the wait.
We’re Here to Help
At Riach Financial, we specialise in supporting first‑time buyers through every step of the journey. From comparing mortgage rates to understanding mortgage schemes, we make the process clear and straightforward.
If you’re thinking about buying your first home, why not reach out for a friendly, no‑obligation chat?
Get in touch and let’s start your home‑buying journey together.
01724 276000