So you’ve been a homeowner now for several years and it’s time to move onto your next home.
Typically we move every 7 years to a new home and this can be or a variety of reasons such as,
- Starting a family- so the need for more bedrooms or to be closer to schools
- Upsizing due to higher income and equity- moving out of that 1 bed flat you started out in
- Relocating for work- cut down your commute by being closer to work
- Downsizing, now the kids have left why not release that equity back to yourself and have a smaller property to maintain
The first thing you should do is engage with a mortgage broker who can talk you through the options available to you as regulations, lender criteria and affordability options change every week sometimes so get up to date on your options as things currently stand.
Check out 👉🏽how a mortgage broker can help you
Check out 👉🏽how much you can borrow now
If you’re had a mortgage for a while now and no credit problems then you’re likely to have a good to an excellent credit score but it’s always important to check this prior to a mortgage application if it’s been a while since your last check.
Check out 👉🏽 your credit score now
Another option could be to try and hold onto your current property and turn it into a buy to let. This is called 👉🏽 let to buy and check here to find out more
The experienced mortgage broker team at YourPropertyFinancial are well placed to help you buy your next home.
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