Mortgage expert Tayo Oguntonade bought his first house at just 22 years old. He spoke to The Mirror about how to secure a home in this fast-moving property market
There are many trials and tribulations when it comes to buying a house.
Firstly, you have to scrape together enough for your mortgage – and that’s certainly no easy feat, as the cost of living crisis continues.
Then you need to find an affordable property, ensure the buyer chooses you if there’s any competition and keep your fingers crossed that the sale goes through.
It’s definitely easier said than done – which is why we’ve enlisted the advice of a mortgage expert, who can offer key tips on how to buy a home as a first-time buyer.
Property expert Tayo Oguntonade is currently appearing on the third series of The Great House Giveaway on Channel 4.
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It’s easy to get disheartened while househunting – especially if you live in an area where few properties are on the market.
Now Tayo has shared a key way to try and secure your dream home on sale.
He told the Mirror: “There’s a lot going on in the property market at the moment and demand is very strong.
“My concern is focused on showing first-time buyers what they can do. I think a key thing is thinking about what you can do to ensure you will be the first person to view that place.
“I always tell people to stick on instant alerts so you get a text or call immediately when there’s a new property in your area.
“When there’s something in the area, I would call the agent straight away and if they’ve got an opening on Saturday, try and say you can’t make it and go in earlier.
“I’ve done it before and managed to buy the house before it went out for any other viewings, they cancelled them all.
“We put an offer in and they wanted to wait until Saturday for the other viewings, so I increased the offer a little bit and they accepted.
“I also love viewing properties with no pictures as I know no one else will look at them. I’m always keen to get in there as soon as possible.
“We have to be a bit savvier with our approach than we used to be.”
Tayo advises keen buyers to register with all estate agents in the area – because they will get the properties up to five days before they appear on Rightmove.
Keen estate agents might offer to show you a property before it’s listed if they know you’re a motivated buyer with the money.
The Great House Giveaway pairs up first-time buyers with different skill sets and then the show follows the journey to renovate a home bought at auction.
The homes are then sold, with any profit split between the pair – helping them each build up a deposit for a mortgage.
Tayo, who is also a mortgage broker, already has an impressive portfolio of homes, after buying his first aged just 22.
“I think that the current property market, because of affordability, is actually forcing some first-time buyers to consider a fix-me-upper, because it’s going to be cheaper,” says Tayo.
“Back in the day, people compromised to have two bedrooms instead of three bedrooms, or they might move miles away from their family home.
“Nowadays, people compromise by buying a house that doesn’t have a working kitchen, because that’s all they can do to get on the property ladder.”
Speaking about the BAFTA-winning show, he added: “It’s for everyday people, and they have to do it in a real-life scenario.
“You’re watching people who want to be property developers renovate a house and you get to watch along. I think that’s why people love the show so much.”