Let Handmade get you on the property ladder with our 100% first time buyer mortgage.

Over the past few years, the property market has been moving very fast and this has led to significant increases in property prices. This has made it very difficult for many people to afford to buy a home. This is a problem particularly faced by first time buyers, as although they may be able to raise a mortgage, this will often fall far short of the cost of a property.

It is, however, still possible for first time buyers to get onto the property ladder and there are actually some advantages to being a first time buyer:

• interest rates are at their lowest for more than 30 years
• first time buyers are more appealing to sellers because they are not in a chain (that is they are not part of a long list of people all dependent on each sale in a chain going through on time)
• first time buyers are much sought after by mortgage lenders

Well before you start looking at properties and going from estate agent to estate agent, find out how much you can borrow based on your earnings.

Once this has been established you can start looking for your first home.

Weigh up the pros and cons of a new-build property compared to an older property, obviously with a new-build property you will have very little to do, just furnish it and move in, but with an older house you may need to do a little work on the house first.

Other costs to consider:

Solicitor's costs or Legal Fees, Home Valuation and Land Registry Searches.

Don't forget you need some money put to one side for your stamp duty.

Stamp Duty starts only when your property is worth more than £125,000 - see the chart below

Up to £125,000	nil
£125,001 to £250,000	1%
£250,001 to £500,000	3%
More than £500,000	4%

Also remember to check what your council tax will be and always ask to see what the Gas and Electricity bills are for the house.

Don't over stretch yourself, there is no point in buying you dream home and it becoming a nightmare.