#guideyouhome
You’ve got your mortgage, moved into your new house and life couldn’t be much better.
After a long process, you’re finally where you want to be but getting a mortgage is one thing – now you have to pay for it.
With the various steps taken by lenders on top of Central Bank regulations, it’s most unlikely you will be given a mortgage you cannot afford unless your circumstances change
drastically very quickly.
That said, it can be a big adjustment for first time buyers to begin paying a mortgage and all that goes along with it at the beginning, especially if you’ve been living at home with family beforehand.
This is where a bit of accounting is needed.
Try to ensure that your mortgage comes out of your account just after pay day. This will ensure it takes priority over all other bills. So if you’re paid at the end of the month, set up the repayment date for just after that or very early in the next month.
It can be beneficial to set up other household bills such as electricity, broadband etc around these dates too. This will help you budget for items such as food shopping, eating out, entertainment, clothes and savings.
It can be no harm to weigh up your finances every so often. Perhaps you can afford to pay more off your mortgage? If so talk to your lender about your options as even a small overpayment can cut significant time off the length of your mortgage.
#guideyouhome
