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EXPERT ADVICE

Top tips for first-time buyers
VMH SOLICITORS

Paul Demarco, an independent mortgage adviser with ESPC Mortgages, provides
six essential mortgage tips for those buying a home for the first time.

bigger deposit for your first home can help
your budget stretch further, or secure lower
A interest rates and monthly repayments.
Here are some top tips for boosting your deposit.

Get independent mortgage advice
An independent mortgage adviser, like
those at ESPC Mortgages, can offer advice
on how much you need to save, and how to reach
your target. They can also examine the mortgage
market to find the most suitable deal, and highlight
different options which may mean you don’t need to
save as much as you think.

Save as much as you can
If you’re in a financial position to save
money, then save as much as you can.
Try calculating a monthly budget to work out
what you can afford to save each month, then set
up a standing order to transfer this money to your
savings when you get paid.
Will you or won’t you?
Set up a Lifetime ISA
If you’re saving but not planning to buy
just yet, you could consider a Lifetime ISA.
You can save up to £4,000 a year, and get a 25% Planning for the future is essential, and having a Will is a vital part of that plan.
tax-free bonus from the Government – a maximum Making a Will is relatively inexpensive, but important to protect your loved ones,
yearly bonus of £1,000. clarify your wishes, and give you peace of mind.
Don’t wait for tomorrow, make a Will today. Our experienced Solicitors will guide
Your Lifetime ISA must either go towards your first you through the process and discuss all your options.
home or retirement. If you withdraw money for any
other purpose, you won’t receive the bonus and
may face penalties on the withdrawn amount. Contact our Private Client department to discuss your requirements on:
0131 622 2626 mpm@vmh.co.uk
You must have had a Lifetime ISA for at least a year
in order to use the money to buy a property, so it’s
best suited to those planning to buy next year.
vmh.co.uk
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