Halifax offers FTB tips

Halifax has offered a range of hints for first-time buyers (FTBs) to help make the transition into their first home as efficient and stress-free as possible.

The first piece of guidance the bank offers is that FTBs must know their budget, by saving as much as possible for a deposit and calculating how much they can afford to repay on their mortgage every month.

Buyers should also research the market, look around their local area and consider what types of property fall within their price range.

Halifax states that FTBs should distinguish between their needs in a house, such as the number of bedrooms or parking provisions, and their preferences, allowing themselves to make a decision based on the most important factors.

When viewing properties, prospective buyers should ask the current owner questions, find out as much as they can about the house and check it, both inside and out, for possible problems.

Mark Heaton, head of mortgages at Halifax, stressed that the purchase of a first home can be a "daunting experience" and buyers should therefore be as cautious and thorough as possible.

However, FTBs are also encouraged to keep an open mind when considering homes and be positive when making an offer, highlighting their strengths as a purchaser to the estate agent.