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Finance Options For a New Home

Finance Options For a New Home

Buying a new home can be one the most stressful things you can do. One of the major headaches involves getting your finance sorted out. Here are some of the options available to make it easier to trade up into a new home or to get your first foot on the property ladder.

Secure Sale Package: If you need to sell your home before moving into a new one it can be a stressful juggling act which needs a dose of luck to make the transition. Not only do you have to sell your home but you have to do it at the right time. Faced with this situation a secure sales package can be an attractive option. It secures the sale of your house so that you can buy another property without the stress of agreeing a sale.

Assisted Move: This type of package will help you to sell your current home. The help that an assisted move package will provide will normally include the valuation and marketing of your property. You will agree on a realistic price to sell your home at and in most cases the company assisting you will be responsible for the agents, marketing and advertising fees.

Mortgage Subsidy: To make the first few years of mortgage payments a bit easier to manage there is the option of a mortgage subsidy. This will provide the mortgage payer with a lump sum every month for an agreed period of time in order to ease the pressure of payments when it’s needed most.

Shared Equity: This is a plan which will make it possible to move into a new home for a percentage of the purchase price. The company you buy the property from will retain the remaining equity percentage but you would still have one hundred percent ownership of your property. The advantages of this kind of plan mean that it’s possible to buy a property that you may not be able to afford now but will in the future.