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What to expect at our First Time Buyer Information Event

Buying your first home is a daunting prospect. The Financial Reporter found that the typical first-time buyer is at least 30 years old, and on average, the time taken to save for a deposit is six and a half years. So statistically, most people begin saving in their twenties! Not only that, but a home is likely to be the most expensive purchase you’ll ever make, so understandably, you want to get it right. Whether moving into your first home is on the cards soon, or even if you’ve not given it much thought, it pays to be prepared.

No matter what stage you are at, we know first-hand that buying your first home is an overwhelming process, which is why we’re hosting a First Time Buyer Information event to help equip you with the knowledge needed when purchasing your first home.

What will the event cover?

On the 20th of January, we’ll be covering:

➡️ What terminology you’ll come across

You don’t have to do much research before you realise that there is a lot of jargon involved with buying your first house. Even a quick look on Rightmove will expose you to terms like “chain”, “completion date”, “conveyancer”, “exchange of contracts”, and “searches”.

But you’ll be glad to know that we’ll be defining the relevant jargon during the event! And don’t worry about information overload as everyone will receive a booklet which includes a rundown of ALL the information from the event)

️➡️ The types of mortgages available

Fixed, variable, Help to Buy mortgages, what do they mean? And as equally important, what are the pros and cons of each? We’ll introduce you to the different types of mortgages out there and provide you with more information about each during the event.

If you have any questions about mortgages (or anything covered during the event!) There will be a dedicated Q&A section, so make sure to make a note of any questions you may have and bring them along.

➡️ The different types of deposit

One significant hurdle for first-time buyers is the deposit. But fortunately, there are many ways to get together a deposit. You might be saving, being gifted a deposit by a parent or grandparent, or utilising a government scheme (such as Help to Buy).

Fortunately, we’ll cover the available options and inform you about each (for example, did you know the Help to Buy scheme is due to end on the 31st of March 2021?)

️➡️ What costs to expect when buying your first home

It’s no secret that buying a home and moving is an expensive ordeal, and it isn’t straightforward to know precisely how much you’ll need to have saved.

During the event, we’ll discuss the different costs involved when buying your first home. The list can feel endless from the deposit, stamp duty, insurance, solicitors’ fees, council tax, utilities, furnishing, and decoration.

Whilst it sounds like a lot, we will break it down and explain the approximate estimates on what amount of money you should set aside for each. (And no need for any frantic notetaking as we will include this information in your take-home booklet!)

️➡️ The people involved and the role they play when buying your first home

As we mentioned, there are solicitor fees to pay, as with every house purchase, you need a solicitor involved. Joining us at our event will be Daniel Kenworthy. Daniel is a Partner, Branch Manager & Licensed Conveyancer at Ison Harrison Solicitors.

We will also be joined by an experienced estate and lettings agent.

Both will be talking you through a solicitor and an estate agent’s role in your first-time buyer journey. They’ll answer any questions you may have, and what’s more – they will tell you the questions you should be asking your solicitor and estate agent!

What will I get out of the event?

We’re running this event to help you feel more confident about buying your first home. We’ve been there, and we know that it certainly isn’t getting any easier. So, after attending our First Time Buyer Information event, you will likely:

✅ Feel more confident

✅ Learn more about the process

✅ Feel motivated to start putting plans in place to start your journey

✅ Meet people in a similar situation

✅ Meet a professional mortgage broker, solicitor AND estate agent – of which you can ask questions to!

How do I book my ticket?

To secure your place at the event, book your ticket through Eventbrite!

The event will occur on Thursday the 20th of January 2022 at the Holiday Inn Barnsley (S75 3JT) and you can virtually join us via an online stream! We’ll get started at 18:15 and wrap up around 20:00.

The event is open to first-time buyers and those looking to learn more or help a first-time buyer (such as parents, grandparents etc.) If you have any questions about the event or want to find out more, send Vicky an email.

And make sure to follow us on Instagram, so you don’t miss our top tips for first-time buyers!

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