When starting out in investing in property - it is imperative that you do your research when it comes to Home Loans or Mortgages as we call it in the UK to ensure you get the best deal and are fully prepared to take on the responsibility!
Here are some top tips from me!
Tip: Check your credit score
Having a good credit score puts you in a position to get the best deal on your home loan. So it’s a good idea to obtain a copy of your credit report from a reference agency before starting the home buying process. You will see what your credit profile looks like to potential banks and lenders and can then take steps to improve your credit score if necessary.
Check in your home country which reference agencies are prominent and offer a good deal when it comes to signing up!
Tip: Save up for a deposit / down payment
Down payments or deposits can vary from 5% all the way up to 25% depending on the size of the loan, purchase price and your lenders terms and conditions.
As a property investor - you should always look to pay as little towards a down payment as possible to conserve your cash to invest into as