Topic
My boyfriend and l are thinking of buying our first home, I am a student, therefore minimal income (until summer 2008), he works, and we know nothing about buying property. We started saving up recently and have a few hundred pounds but from now on we wanna start saving more every month until next year, when we wanna get a mortgage.
l have seen banks offer mortgages with 0% deposit required, should l be wary of these? How about interest only mortgages? There is so many types of mortgages, it is hard to figure out the advantages and disadvantages of all.
Apart from a deposit, what other kind of money allowances should we make (l know we should put money aside for stamp duty, furniture and repairs/diy for the new house). Is there anything else we should think about?
Any other useful information?
Thanks!