Allied Financial has recently added Mortgage services to its suite of financial services, as well as providing advice in pension planning, life assurance, investments and savings advice to its clients for over 23 Years.

Mark Winters of Allied Financial, gives first time buyers some additional tips, and advises “By maximizing your deposit and working with a broker with access to all potential lenders, such as Allied Financial, first time buyers will make the most of their chances of securing their dream home.”

  1. Start Saving Early:
    • Open a dedicated savings account for your home purchase.
    • Set realistic savings goals and timelines.
    • Prioritize consistent contributions to your savings.
  2. Cut Back on Expenses:
    • Identify areas in your budget where you can cut back.
    • Evaluate your spending habits and make necessary adjustments.
    • Sacrifice non-essential expenses to accelerate your savings.
  3. Decide on Location:
    • Prioritize locations based on your preferences and affordability.
    • Be open to alternative locations if your first choice is financially out of reach.
    • Consider factors like proximity to work, amenities, and future growth.
  4. Understand the Long-Term Commitment of a Mortgage:
    • Assess your commitment to homeownership.
    • Be aware of the potential for fluctuations in property prices.
    • Compare the advantages and disadvantages of buying versus renting.
  5. Seek Independent Advice:
    • Consult with an independent adviser, such as a mortgage broker, Allied Financial being a sound choice to speak to.
    • Leverage their knowledge and experience to make informed decisions.
    • Ensure you understand all aspects of your mortgage agreement.
  6. Leave Room for Living Expenses:
    • Budget not just for mortgage payments but also for living expenses.
    • Consider potential changes in family circumstances.
    • Plan for unexpected expenses and emergencies.
  7. Financial Preparedness:
    • Maintain well-managed current accounts.
    • Avoid accumulating credit card debt and short-term loans.
    • Regularly review and update your financial situation.
  8. Stretch within Reason:
    • Be realistic about what you can afford.
    • Stretch your budget slightly if it means getting a home you truly desire.
    • Ensure you can comfortably manage repayments, even if interest rates rise.
  9. Insurance Considerations:
  10. Consider Fixed-Rate Mortgages:
    • Explore fixed-rate mortgage options for stability.
    • Evaluate the feasibility of fixing your mortgage if reasonable rates are available.
    • Be cautious of attractive introductory rates and consider long-term implications.

Mark of Allied Financial reminds clients; ‘Remember, the key is thorough preparation, financial responsibility, and a clear understanding of the real costs associated with home ownership. It’s a significant financial decision, and being well-informed will contribute to a smoother and more satisfying home-buying experience’.

Contact Mark Winters at Allied Financial and make your appointment today to start your mortgage preparation.

Allied Financial: Call 096 60044