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Saving for a deposit is often the biggest challenge for first time buyers, but with a clear plan and realistic targets, home ownership can become much more achievable. Understanding how much you need, where to save and how government support can help allows you to build your deposit more efficiently and with greater confidence.
Know your deposit target
Most mortgage lenders require a minimum deposit of 5% of the purchase price, although saving more can unlock better mortgage rates and lower monthly repayments. Rather than relying on national averages, base your target on the typical price of properties in the area where you want to buy. This gives you a more realistic savings goal and helps you understand what is achievable within your budget. Even increasing your deposit from 5% to 10% can make a noticeable difference to the mortgage products available and the total interest paid over the life of the loan.
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With Section 21 now abolished, choosing the right tenant from the outset has become even more important for landlords. If problems arise during a tenancy, regaining possession now relies on a valid Section 8 ground, supported by the right evidence and records. That makes thorough tenant referencing one of the best ways to reduce risk before a tenancy even begins.
What should tenant referencing include?
A good referencing process should look at more than just whether someone says they can afford the rent.
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Consistent results from our Ossett sales team
When you are choosing an Estate Agent, asking price is only one part of the story. What matters is what your property actually sells for and whether your agent has the local presence, buyers and experience to get your move completed.
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When looking at a buy-to-let property, the headline rental yield can sound appealing. But the figure that really matters is what is left after your costs have been taken into account. That is the difference between gross yield and net yield.
Gross yield is only the starting point
Gross yield looks at the annual rent compared with the purchase price of the property. For example, if a property costs £200,000 and produces £12,000 a year in rent, the gross yield is 6%. It is a useful way to compare different properties, but it does not tell you what you will actually earn.
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Deciding to sell your home is one thing, but getting it ready to make the best possible impression is another. At Richard Kendall Estate Agent, we know that a little preparation before your property goes on the market can make a big difference. Buyers have plenty of choice, so presenting your home well from the very beginning can help attract more interest, stronger offers and a smoother sale.
First impressions start outside
Buyers begin forming an opinion before they even step through the front door. A tidy garden, clean windows, swept pathways and a smart entrance can instantly make your home feel well cared for. You do not need to spend a fortune, simple jobs such as touching up paintwork, clearing away clutter and tidying outdoor areas can make your property feel much more inviting.
