Buying a Home

Introduction

Buying your home is one of the most important and expensive decisions you will ever make.

If you are thinking about buying your own house, you should get as much advice as possible about whether it is the right thing for you to do. It's not necessarily the right choice for everyone.

It is very important that you have a regular income in order to afford the monthly mortgage repayments.

These repayments can go up or down with interest rates. For example, if you have a £100,000 25-year mortgage you would currently pay around £636 a month. But if the interest rates suddenly went up to 12% you would have to pay £1,062 a month!

If you can't keep up the repayments you risk losing your home. There are also a lot of hidden charges involved with buying a house. You will have to pay out a lot of different fees to solicitors, surveyers and so on.

This section of the site gives you information about: