First-time buyer mortgages



First Time Buyers

August 16, 2019
Information published was correct at the time of writing

Buying your first home can be a daunting experience. Where do you even start? Well, your first port of call could be to meet with an Independent Mortgage Adviser.

By definition, if you are a First Time Buyer, you will never have been through the home buying experience before, so taking the time to discuss the process with a specialist will ensure you make informed decisions on what is likely to be one of the biggest financial transaction that you are ever likely to make.

A good mortgage adviser will give you advice on all areas of the buying process, such as how much deposit you will need and how you can ensure your credit file is in the best health before you embark on your home buying journey. They will also tell you which fees are payable throughout the process, when they are payable, and who they are payable to.

The adviser will look at your financial commitments and income, along with your personal circumstances and will then make a recommendation for a lender and mortgage product that is tailored to your needs.

They will be able to calculate the answer to the two most important questions that you may have; ‘How much can I borrow?’ and ‘How much will it cost?’. This is crucial information that you need even before you start viewing properties.

They can also recommend solicitors and surveyors, so you don’t have to spend time finding these yourself. They can provide you with an Agreement in Principle, which will aid in presenting yourself as a serious buyer, and place you in a competitive position when it comes to making offers on a property.

The Government offers various schemes to assist first-time buyers onto the market, for example, Help to Buy and Shared Ownership. Our advisors can inform you of the benefits of utilising such schemes, and whether these are a suitable route to the property market for you.

In some circumstances, first-time buyers may be seeking assistance from their family members. There are mortgage products that allow this and our advisors will be able to explain the different options available to you and help in determining the most suitable outcome.

So, before you go around the houses, make sure you get some really good Independent mortgage advice.

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