There are many varieties of mortgages available; try to get the best deal for you by shopping around.

Your property needs to be affordable, you must pay the monthly payments on time. Therefore, before accepting any offer, take a look at your income and calculate all the outgoings you might have. Don't forget to consider your credit cards, loans, hire purchase, monthly bills, taxes and insurances. Subtract them from your income, see what you have left and only afterwards decide if you can manage to pay your mortgage.

Take in account all the possibilities you have when taking out a mortgage. There are several types, depending on the risk you are ready to assume and on the flexibility of the payments. What type of person are you? Do you want to pay the same amount each month? If you want to make over payments, remember that some lenders have an early redemption penalty, so that you'll have to pay a fee if you make that extra payment. If you are opened to take the risk of a discounted mortgage, don't forget that a flexible monthly mortgage will depend on the fluctuations of the interest rates. Instead, a fixed payment each month gives lenders most security and also gives you the peace of mind.

Be careful of the ups and downs of your income. You can take in account a future promotion, or anything else that's going to bring you more money, but as well, you have to consider the other side, with less money, which would be a problem if your payments are high.

You will incur also costs such as legal fees, you will need to pay a solicitor and surveyors fees, which fluctuate depending on the type of survey you opt for. Don't forget about the application fees. All these extra costs can leave you with about £2000 less in your pocket, so it's worth making enquiries in advance.