First Time Buyers Mortgage
Buying a property can be the biggest decision you can make in your life. It is for this very reason that advice is critical from competent and qualified advisers. We have access to a large panel of mortgage lenders, some who specialise in first time buyer mortgages.
How will we try and help you onto the property ladder?
Buying a house is one of the most important purchases you will make and buying a home for the first time will be an even more daunting prospect. Add to this the vast array of mortgage products available from a wide range of sources and you could be left with a high-stress, confusing decision. However, this is where we step in and with our years of experience, we will advise and source a mortgage that suits your needs best.
However, we don’t stop there, we will communicate with your solicitor and estate agent until your completion date, and we will keep you updated through the process with realistic timescales.
What type of mortgages are available?
There is a full range of mortgages available such as fixed rate, variable rate, discount rate, capped rate, tracker, offset and cashback mortgages as well as different terms (from 3 years to 35 years).
We keep up to date with the latest mortgage products on the market and source and advise you on a mortgage product that we believe suits your financial circumstances. We will also inform you of any that has additional incentives such as free surveys, reduced legal fees or even cashback.
How much deposit do you need?
Basically, the larger the deposit that you can put down, the lower your mortgage repayments can be or there are opportunities for you to borrow more.
There are lenders who are prepared to lend up to 95% of the property price therefore borrowers will only need to put down the remaining 5% as a deposit, better mortgage products and rates are available to those who put down a higher deposit.
Are there any schemes to support First Time Buyers?
There are plenty of schemes available to support First Time Buyers however it depends on where you live and your circumstances. The Government introduced a campaign called ‘Own Your Home’ with a range of government schemes available, making it easier for first time buyers to find out what is out there for them.