First time buyer: pitfalls and advantages Part one

Purchasing a property for the first time can be a daunting prospect, which is made even more discouraging by the constant reminder that for the first time buyer the initial step on to the property ladder is not an easy one to make. There is always someone with a horror story regarding his or her property purchase, which can make the whole thing seem like a bad idea.

It is important not to be out off by these tales of despair. Purchasing a property need not always be a scary and trying time. It can be an exciting new chapter in life, once you are well advised and prepared for the mortgage process.

Of course, applying for a mortgage is not something that most of us do regularly. Even the thoughts of how to approach the application process can seem like hard work. There are so many questions, What Lender should I approach? What documents do I need to show them? How much will I qualify for? What is the difference between a Bank and a Broker? How much will this cost me?