Buying your first home can be exciting, exhilarating, terrifying and great. Most of us want to own our own home (in fact, 71% of us, according to recent research) but the process can sometimes be a lot more complicated and longer than we anticipate.
First-time buyers are getting older and mortgage terms are getting longer. The average deposit size is on the rise (and eye-watering in London), Gazumping (offering more money than someone who’s already had a sale agreed) is also on the up – at least according to home-buyers. Moreover, the hidden costs associated with buying a home (things like a HomeBuyer’s Report and solicitors’ fees) can end up adding a significant amount to the overall cost of buying. Having good insurance in place can give you better peace of mind when you’re going through what’s generally thought to be one of life’s most stressful experiences and might even give you a buffer if it doesn’t quite go to plan.