Getting a mortgage is no easy task, and, unfortunately, it is going to get even harder thanks to what we refer to as the housing bubble. It seems that only a couple of years ago lenders were holding back, and people were unable to buy their own property. Then came the governments Help To Buy scheme, which allows people to acquire a home with only five percent deposit. The country makes that deposit up to twenty percent, and the borrowers do not have to start repayments on that for five years. The system has become so popular in conjunction with other things that house sales and therefore prices are soaring. One way the government will combat that is to make the mortgage qualifying criteria much more strict, which is bad for us all in my opinion.
If you are lucky enough to have a career and are thinking about buying your own home, you will need to raise a deposit on the mortgage. Many people spend years building up their savings account, slowly and surely. You can speed the process up if you want to, and shave a few months, or maybe a year, off the time it takes. Before you know it, you will be browsing property for sale in Henley on Thames or your dream destination and arranging a mortgage. Here are a few ideas for raising some extra cash. Now, you may say that they are common sense, but sometimes we must state it so that people can see how sensible the ideas are, and act on them.
Take A Second Job
Yes, we are all exhausted at the end of a long day, but you will not need to keep the second job forever. Set yourself a goal and a timescale so that you have an end date to work to. Here are a few ideas that could raise some extra cash.
- Work in a supermarket that stays open late.
- Take a door to door job selling cosmetics. You all know the company to which I am referring. With that sort of job, you make your own fortunes, and you only get out of it what you put in, with a bit of luck, of course.
- Take a night cashier’s job at a petrol station.
Start A Business
You could become self-employed on the side with your very own business, or do the work without declaring it to HMRC as many others do. Remember that it is illegal to make money and not declare it. The penalties are severe, so we would never recommend that course of action. Here are a few ideas for self employed work.
- Start a dog walking service.They are always in demand in affluent areas where the hard working people do not have time to take their pets for a stroll and are happy to pay someone to do it.
- Become a blogger. You may not believe it, but you can earn some money without leaving your bed if you have a laptop computer. Research the subject because we do not have time to explain it here. It may be the perfect sideline for you.
Sell Online
Attend car boot and jumble sales to look for attractive items that you can clean up and sell for a profit online. Often, all you need to do is take a good photograph and write a brilliant, but accurate description of it. There are several internet auction sites you can use, and people are utilising Facebook too.
So you can reduce the amount of time it takes to save the deposit if you want to. Often, all it takes is the ability to think clearly and a positive mental attitude. Remember, house prices are unlikely to come down, so the sooner you get on the property ladder, the better. I hope you have found this interesting and that you found it useful. Until next time, i wish you good fortune.
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