Booking my first ever house viewing today!

[Mymothersdaughter]

First time house buyers here!!

We've found a gorgeous home we want to view but we've never been on a viewing before (to buy obviously have for renting)

Any tips on what to ask about the house?

Also we only have a 5% deposit- are we likely to get a mortgage?

So scary, don't have a clue about how to buy a house

You'd say that first of all you need to find a mortgage calculator online to see if you'd be able to borrow enough.
Then try and look at every house that is remotely like what you want so that you're happy that the one you decide on really is the one you want.

Ask about the typical running costs (they might lie though).

Ask if there has ever been any flooding.

Ask about entry dates.

Try not and look too interested!!

I'd say, don't know were 'you'd say' came from.

Oh I'd do a dummy home and car insurance quite to throw up any issues such as lots of crime or flooding.

We did it the other way round, we contacted mortgage companies and had a mortgage agreed in principle, then when we found a property it was done properly by the lender we chose.

I'd advise you to speak to some mortgage companies and get an agreement in principle, as otherwise you may be setting yourself up for disappointment.

The issue is not simply the deposit, it's what they view as the affordability. As in can you afford it and they run scenarios if the interest increased by x percent could you still afford it. However that was during the formal approval process, the initial agreement in principle was done over the phone.

Without an AIP an offer is unlikely to be accepted (as right now you have no idea how much you can offer as don't know how much you can borrow!).

Go see the house, and if you like it get an appointment with a broker ASAP to go over finances.

There is a good thread on here at the moment that is full of good tips to look for on viewing. No need to duplicate.