Buying
Make sure you review your budget to find out how much you can afford to spend on mortgage repayments each month and that you have enough to cover the other costs of buying a house, including survey costs, stamp duty, moving costs and legal fees.
Selling
Get your house valued by three estate agents and find out how much is outstanding on your existing mortgage to see how much equity you have to put towards your next home.
Use the CCPC budget planner to work out what you can comfortably afford to repay each month. Include a regular amount for ‘unforeseen expenses’ in your budget such as medical expenses, interest rate increases etc.
When you have worked out this amount and what deposit you will have, you’ll be able to work out how much of a mortgage you can afford to take out.
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