How am i ever going to be able to afford a property?You will need to consider. How will i benefit from regulation?Generally, the higher the deposit, the better the deal – so it might be worth dipping further into savings.

Back to the mortgage guide index. In 2005, the first time buyers' initiative was also added to the homebuy scheme. Always ask for a kfi for mortgages you are considering and compare the different deals to work out which is best for your circumstances. Other financial aspects of buying a home. Do you need to get advice?

Explains the difference between an 'interest only' and 'repayment' mortgage and runs through the features of both. However, the most interesting question they're asking is: "can consumers afford to own their own homes. Sit down and make a list of your income and outgoings, and work out what you'd really have available each month to comfortably feed a mortgage. You really must check out what you've got left over after you've added up your current monthly commitments.

Ideally, you need to have saved a deposit of at least 5% of the property's price. You need to be able to trust both your head and your heart. They can be useful for self- employed people with a fluctuating income, but they do require a relatively sophisticated level of financial understanding and self- discipline. Send it to a friend! Do you want a special interest rate deal or, say, a mortgage with flexible features?If you're saving for ten or more years, you stand an excellent change of reaping higher returns from shares, rather than cash.

Personally, i'd rather change my lifestyle than buy a house without the means to repay my housing debt. You won't qualify if you have savings of more than £8, 000. What will it cost to switch?Otherwise, choose your lodger carefully! The motley fool, fool, and the "fool" logo are registered trademarks of the motley fool, inc.

How do i get advice?Text only help jules' pages. You may be able to afford your mortgage today but what would happen if?Early repayment charge.

Reviewing your mortgage can you pay it off?Choosing a mortgage what can you afford? How much should i borrow?Following on from parental help, you might find that you qualify for a graduate mortgage. No, lenders only repossess properties as a very last resort.