Buying a home can be an exciting and rewarding experience, but it can also be overwhelming and stressful, especially if you're a first-time buyer. To help make the process smoother and more manageable, there are a few key steps you can take before embarking on your homebuying journey. In this blog post, we'll discuss three important steps to take before buying a property: completing an affordability test, creating a budget, and obtaining an agreement in principle from a mortgage lender. We'll also introduce you to our homebuying app, which includes these helpful tools and information to guide you through the process.

Affordability Test

Before you start looking for a property, it's important to determine how much you can afford to borrow. Our affordability test considers your income, expenses, and other financial commitments to give you an accurate picture of what you can afford. By using our app, you can easily complete the affordability test and receive a clear understanding of what your budget will allow you to purchase.


Once you know how much you can afford, it's important to create a budget for your home purchase. Our app includes a budgeting tool that helps you to factor in all the costs associated with buying a property, such as legal fees, stamp duty, and survey costs. By using our app, you can ensure that you are fully prepared for the costs of buying a property.

Agreement in Principle

Before you start viewing properties, it's a good idea to get an agreement in principle from a mortgage lender. This is a document that shows how much a lender would be willing to lend you based on your financial situation. Our app includes information on how to obtain an agreement in principle and the benefits of doing so. By using our app, you can easily find a reputable mortgage broker like Rettie Financial Services who can help you secure an agreement in principle.

By using our homebuying app, you can feel confident that you have all the information you need to make informed decisions at each stage of the homebuying journey. With the added benefit of using an independent mortgage broker like Rettie Financial Services, you can rest assured that you are getting the best advice and support throughout the process.

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Rettie Financial Services Ltd is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

Rettie Financial Services Ltd. Registered Office Address: Deuchrie, Dunbar, East Lothian, United Kingdom, EH42 1TG. Registered in Scotland Number: SC711925.

For insurance business we offer products from a choice of insurers.

Your home may be repossessed if you do not keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

There is no guarantee that it will be possible to arrange continuous letting of your property, nor that rental income will be sufficient to meet the cost of your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.