Whether you like it or not, at some point, everyone needs a place to live or call home. It might be a tiny bungalow, a small studio flat or a massive mansion depending on your point of view.
In modern times it has become easier to buy or own a property and property owners are getting even younger as each day goes by. Anyone living in the western part of the world can easily testify to this fact and indeed if you ask a good proportion of them you will discover that in order to get a mortgage for instance, you need to have some sort of credibility and indeed funds to get your feet on the property ladder. Now, I am not here to provide you with the breakdown of getting a mortgage or what not, but am here to simply assist you in destroying the myth that has been around for decades. The myth in the shape of property is only for the well to do and them only.
Before I go deeper into the crux of the matter, let me let you into a little secret. I will reveal to you how I came about this fact. As an Aircraft Technician working at Heathrow Airport,
I would spend a great deal of my leisure time watching planes arrive and depart the terminal daily. This I must admit has always fascinated me. On one sunny Monday afternoon in June a few years back, I watched as a tug took its place towards the nose wheel of a British Airways Airbus, A380 bound for Los Angeles. With precision, the two experienced Aircraft Movement Operatives alighted from the tug and advanced towards the belly of the giant 575 tonne Airbus. After a couple of minutes following their walk around, and the completion of the logistics of loading the plane, they were given the all clear to attach the tug to the plane before push back took place.
As I watched with renewed interest, I saw all three jetty’s move back one after the other, meaning all passengers had successfully boarded. The push back tug then moved into place and attached itself to the nose wheel of the plane. A few moments later the plane’s anti collision’s lights illuminated and the plane was gently eased back onto the runway to commence taxing.
Just before the push back tug detached itself from the plane four of the plane’s Rolls Royce powered engines roared to life. It was at this point that my mind drifted away for some strange reason to property. Don’t ask me why! Might be because of the enormity of the airbus conveying over 400 passengers or perhaps the massive noise of the plane’s engines, I do not know. All I know is that I was now into the world of property.
I had been living in a council flat for 23 years before I bought my first property and even that was a struggle before it crossed the line. Why, because right from a very young age I had been made to believe that unless you were a well to do person with a huge bank balance or an individual with a spotless credit history also with lots of funds, then you cannot even think of buying or owning a property. It was as if someone broken the shackles off my hands and feet. Within a flash I began conducting research on how to buy a property.
As it was, my council flat had an immediate equity of over £100,000 and this was pivotal in gaining me an immediate profit. Straight away I began to see things differently and I instantly put on the mantle of a home owner.
I am saying to you today that you can buy a property despite any limitations you think might exist preventing you to own one. To achieve this you will need to be mentally strong and have a desire to reach your goal. This is because if you are not, you will discover that you will give up easily. One of the main reasons people never achieve their goal is those they associate themselves with.
Friends can be beneficial and at the same time detrimental to the decisions you make in life. I am not only talking about property now. If you find that you have a friend or friends that always seems to discourage you in anything you put through to them, I will advise that you disassociate yourself from them. Some of these friends do this unknowingly probably because of their upbringing and nature while some others quite simply do not want you to progress in life. It is a sad fact really when you consider the meaning of the word ‘friend.’
Can you believe that envy and jealousy are two major weapons so called friends possess and use against other people? It is a fact. There are some friends who would not want you to gain what they have gained, especially not while they are around. You have to be able to distinguish between negative and positive contributions, and not be drawn into the camouflaging web of friendship while you are engaged in important conversations with them.
Secondly, you have to conduct research concerning the issue, just as you have done now by landing on this page. Not everything in life is doom and gloom. There is a light at the end of every tunnel. It depends on the magnifying glass you have selected to dissect the pieces of information with.
Thirdly, find a solution to any issue you might have. Say for instance you have had or are currently having credit issues, don’t just sit back and hope the issue will go away because it most certainly will not. Get a copy of your credit file from any of the major credit bureaus in the Country where you reside. The main ones are Experian, Equifax and Call Credit. See what they hold on your file concerning you and, see if it corresponds to the credit you have taken out with your creditors. If it does not, seek advice by contacting your creditors to iron things out. You will be surprised the errors that exist on credit files and the number of people that quite simply cannot be bothered to go through the process of rectifying the issue.
The next stage would be to find a reliable broker to assist you in locating the best mortgage. Do not be tempted to use just any broker you come across no matter how convincing their profile may be. Shop around and make comparisons with others before making your final decision.
Brokers love to take a significant bite out of the cherry. In actual fact, the bigger the mortgage the more they get. The good news though is that most of them do not charge for services rendered until the entire process has been successfully completed. So you can breathe easy now.
Once you reach the mortgage stage, you will be wise to also search around for the best mortgage lender and offers you have at your disposal. Some brokers will present you with some options normally but don’t just go along with those that are offered to you. There is a reason for this. Some brokers are affiliates with some lenders and as such there might be various benefits around for both those parties, especially in the form of commissions etc. So make sure you are certain you are getting a great deal. Of course if you are someone with a not so perfect credit rating, you might not be as picky in whom you can get signed on to.
Unfortunately, you might just have to settle for what is being offered to essentially get your foot on the property ladder. Of course, you can always switch later because you are not tied to just one lender.