When sorting out your finances to buy your first property, where is the best place to start?

Aug 26, 2022, 12:31 PM
Title : When sorting out your finances to buy your first property, where is the best place to start?

It starts with getting a better understanding of your financial position. Have an informal discussion with an HFM around your potential borrowing capacity, maximum budget and required deposits as early as possible. It’s during this initial discussion that your HFM can help you to tailor a savings plan towards your deposit requirement. If you need to increase your borrowing capacity, they can advise if any existing credit facilities need to be repaid and closed off before applying for the housing loan.

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