He says there are five things first-time buyers need to look out for
Phil Spencer has highlighted that first-time buyers often overlook additional costs when saving for a mortgage deposit. The co-host of Channel 4’s Location Location Location alongside Kirstie Allsopp, he cautioned that these hidden expenses can amount to an extra £5,000.
He said: "Many first-time buyers are unaware of Stamp Duty costs before they apply for a mortgage - I've seen it happen so many times." Moreover, Mr Spencer pointed out that the impending tax increase is already causing a stir, fuelling property price surges as buyers hurry to finalise purchases before the hike, reports the Express.
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