How to Place an Offer on your First Home and Win - First Time Buyer Secrets

Have you falling in love with your first home and want to buy it ? Make sure to follow these tips BEFORE you offer!

In this video I provide preparation tips you MUST do before placing an offer on your first home.

FREE CREDIT FILE CHECK

Free Credit File Check. Check your credit score from the outset! Use checkmyfile as they provide reports of all three credit file agencies the mortgage lenders use to credit score you, on one file (Experian, Equifax and Transunion)

checkmyfile offer a 30-day free trial which is then £14.99 a month thereafter and can be cancelled at any time.

Check my free credit score now:
https://www.checkmyfile.com/credit-report.htm?ref=alexkerr&cbap=1

For a free credit score check: email your checkmyfile credit file to: freecreditfilecheck@mortgagechain.co.uk

DISCLAIMER: This video and description contains affiliate links via the above checkmyfile link, which means that if you click on one of the product links and purchase the product, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for the support!

**** Show Notes, and Resources ****

Gifted deposit template - https://mortgagechain.co.uk/wp-content/uploads/2017/03/gifted-deposit-form.pdf

Make sure you have:

- Had affordability checked!

- Make sure you can prove your deposit. Have a proper bank statement available (Not a screen shot)

- Make sure you/your bank/your broker has checked your credit file and you know you will pass a mortgage credit score.

- How long has the property been on the market ?

- Whats the interest on the property been like ?

- What is the condition of the property ?

- Has anyone made an offer on the property before ?

HOW MUCH DO YOU WANT THIS PROPERTY! PRIORITISE LOCATION OVER PROPERTY.... !

The above will help you approach making the CORRECT offer.

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***Quick affordability calculation***

Income (single or joint) - liabilities x 4.5 = mortgage amount

Example. 50,000 (joint income) - 2,400 (£200 per month loan payment x 12) x 4.5 = £214,200

*Liabilities - When calculating liabilities use 5% of total credit card balances
X 12 – (minus) Loan/HP monthly payments X 12

Ignore loans with less than 6 months to run

Rightmove Sold Prices - https://www.rightmove.co.uk/house-prices.html

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*Check your credit file - Apply for a FREE 30 day trial via checkmyfile who provide both Experian and Equifax reports in one report: https://www.checkmyfile.com/credit-report.htm?ref=alexkerr&cbap=1

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Alex Kerr on Social Media: @alexkerrmortgage
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Facebook Group for First Time Buyers: https://www.facebook.com/groups/firsttimebuyeruk

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Contact:

Enquiry:
https://mortgagechain.co.uk/contact-us

Book 10 minute mortgage chat with Alex: https://outlook.office365.com/owa/calendar/MortgageChainLtd@mortgagechain.co.uk/bookings/

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Contact: 03333 44 68 69

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⚡QUESTION OF THE DAY: Are you preparing to put an offer in on a property ? LMK 👇👇👇

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
#FirstTimeBuyerTips #AgreementInPrinciple #alexkerrmortgage

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