Hi all,
Me and my partner are looking to buy our first home in the next few years as first time buyers. I just wanted to get a feel as to how other recent FTB have found the buying process, any tips you have in regards to the buying process (anything to look out for, be wary of or that as FTB we may not be aware of) and any tips as to how you saved for your first home!
I also wondered what figure people aimed for/ended up with as a deposit? How much did you keep for the mortgage deposit and how much did you keep for other expenses? I’m aware that this varies dependent on a number of things… but I’m still interested and want to get a feel for what is a good amount! We’re thinking of looking in the region of 180,000-250,000 (partner has a trade so is handy if/when the home needs some doing-up, will definitely have some work needing to be done when looking at homes in this price range!).
Also may be relevant that though he works a full time job, I am a PhD student currently earning via my stipend, however it is likely that when we are ready to buy I will (hopefully) be working full time also!
We have both opened LISAs and plan on opening cash ISAs also, though I do feel hesitant to put large amounts of money in an account with a company/bank that is online. I know the best interest rates are with the online financial platforms rather than the well known banks however so…Are there any platforms you recommend?
I’m not too clued up on this sort of thing but any advice would be helpful from FTB or those with buying advice, I would appreciate it all!
TIA!