8 Feb

First-time buyers offered tips by estate agents and financial advisers

First-time buyers offered tips by estate agents and financial advisers

First-time buyers have been offered a range of hints about how best to approach the property market.

Advice website Unbiased.co.uk collated the helpful information from estate agents and financial advisers around the UK.

A useful tip for those at the beginning of the house-hunting process came from Melanie Bien of Savills Private Finance. She recommended that buyers seek an "agreement in principle" from a lender because this will outline how much can be borrowed.

"The other advantage is that vendors will take you more seriously," she added. This is because it demonstrates that a buyer will be able to fund the purchase, reducing the likelihood of the chain breaking.

James Carter from Independent James noted that first-time buyers should focus on finding a home that they will be happy in for several years, rather than worrying about receiving a high return on investment.

In other related news, the Halifax House Price Index released on February 4th revealed that property values increased by 0.6 per cent in January compared with the previous month.ADNFCR-1222-ID-19603757-ADNFCR

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