Are you looking to buy a house

Are you looking to upgrade your home or take your first steps onto the property ladder? Let us guide you through planning and financial strategies to make your dream home a reality.

If you are a First Time Buyer here are some tips that will help you buy a house

Start Early: Start saving for your home at least two years in advance, as banks favor consistent savers and typically require a six-month savings history for mortgage approval.

Clean Accounts: No missed payments, no overdrafts, and no gambling in the last 6 months.

Assess Your Finances: it’s essential to evaluate your debts, expenses, and credit score to determine an affordable down payment. This financial assessment helps set realistic savings goals and understand borrowing capacity, with a modest house requiring a combined salary of over €100,000

10% deposit: You will need to have 10% of the value of the house as a deposit.

Get Familiar with Government Schemes Available: Such as The Help to Buy Scheme and The First Home Scheme, read our Blog to learn more.

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How to Set your Budget for Buying a House

The first step to buying your home is starting to save your deposit. As a first-time buyer, you will usually face a 90% limit on the mortgage you can get. So, the deposit you will have to pay will be a minimum of 10% of the overall cost of your new home. Use this to estimate how much you need to save. If you are a second time buyer the deposit has been changed to 10% also. Saving for a deposit can take time, luckily, we can help you. At Alpha Wealth, we tailor savings advice to suit your circumstances. As well as this, we beat the low interest rate environment which the banks currently occupy, by giving you access to a wider market. It is our goal to help and advise individuals through their different financial life cycles enabling them to live comfortably now and in the future.

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How to Set Your Budget for Buying a House

When you decide to not use your money for more than a day, you should ask yourself what interest will you receive in return for doing this. Our objective is to offer a broad range of savings and investment solutions so that when you do decide to save, it will earn the best return for you.
Whether you are a regular saver or a deposit saver, it is important to know what various forms of tax treatment the savings accounts are subject to. This is an area which we can contribute to by advising on accounts which are either tax free or subject to a lower rate of tax. We endeavour to bring a little investment nous to how you structure your savings, and consider a portfolio approach to ensure they get spread across the various savings accounts on offer

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Mortgage Protection – We can get you the best premium available

Anyone looking to purchase a home must purchase mortgage protection also. Please note that you are not required to purchase mortgage protection from your bank. We can shop around to ensure you get the best value quotes

Benefits of protecting what’s important

Peace of Mind: Mortgage Protection will ensure your mortgage is cleared if you die.

Protection: Your family is safeguarded from a substantial financial burden.
Increased Security: You can add cover for many serious illnesses.

Flexible Option: to increase cover on certain life events, like approval for a new mortgage or an increase to an existing mortgage.

Inexpensive: The level of mortgage protection cover reduces from year to year as the amount you owe on your mortgage goes down. Mortgage protection policies are sometimes referred to as ‘reducing term cover’.