Regulations, products, and processes are continuously evolving. For banks, supporting customers during this process has become increasingly difficult. Obtaining a bank-issued mortgage is usually one of the first steps in realizing the dream of home ownership. They worked with Royal Bank of Scotland, which manages over ￡748 billion in assets. The Scohertys began their homebuying journey in 2018. If buyers don’t make the right financial decisions early on, they (and their families) could be paying for them for many years to come.įor first-time homebuyers, the amount of information it takes to make an informed decision can be daunting. According to NPR, “After 10 years of paying for your house, you could have $121,000 worth of ownership built up - or you could have only $42,000.” No small difference. To obtain a mortgage, potential buyers must be pre-approved, research interest rates, and meet with multiple banks. “It’s nice to see so much effort, planning and saving all come together in the end, especially as first-time homebuyers,” Scoherty said. It’s located just outside of Greenock, Scotland. Scoherty spoke to Industrious from the new home he purchased recently with partner Chris. “Mortgages are complicated, and it’s just hard for us to know if we had all the right information.” “Buying a home is one of the hardest things we’ve ever done,” said Andy Scoherty.

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