Equity must be, at least a fifth, a third if possible. The rest comes from building society loans or a mortgage.
The individual financing steps: Your home savings loan is disbursable- or ready for allocation, if your contract has the minimum savings balance and sufficient, has reached the rating determined by the building society.
You can apply for a bridging loan, if at least from the building contract sum 40, with some tariffs it is 50 percent as credit on the account and you don't want to wait, until you receive the home loan.
The way to the mortgage
Clarify beforehand, whether relatives or employers help with loans. home savings contract, Income and the extent of manual self-help are further factors. Armed with this information, follow these steps:
• 1. Step: Check it, whether government loans are possible based on your income. your savings bank, Bank, Building society or life insurance helps with advice and leaflets.
• 2. Step: Let the institution you trust make you a mortgage offer.
• 3. Step: Get more quotes and compare. Tip: Distinguish between offers with a long-term fixed interest rate and those with a variable interest rate. And also ask about “hidden” additional costs (that can e.g. estimated costs or commitment interest).
Big mortgages and only one extremely low one, maybe just a 1% initial repayment, this is not a happy combination when building or buying a home for personal use. Definitely not in the long run!
Tip: Try, to agree the right to special repayment in the case of a mortgage with a fixed interest rate.
The advantage: For example, you could pay in your tax savings from the construction or purchase as a special repayment.