Mortgages

First Time Buyers

Moving into your first home is one of the most memorable moments in your life and there are few things more exciting than the freedom of living in the home of your choice. Unless you are lucky enough to be buying with cash, it is likely that you will need a mortgage to help you make the move. However, before you can begin to consider buying a new home you will need to know how much you can borrow and how much it will cost you each month.

This is where we can help you. One of our qualified Advisers will discuss your individual circumstances and assess your mortgage needs in order to ensure that we find the most suitable mortgage available to you. For a guide please use our calculators, which will help you find out how much you might be able to borrow and how much you could expect your mortgage payments to be. For more accurate information please contact us.

Besides telling you how much you can borrow and what your mortgage will cost, we will also give you details of the other costs of buying your new home, like Solicitors fees, stamp duty and where applicable any fees associated with your new mortgage. Our Adviser will help you budget to make sure that you do not over commit yourself, remember that you will also have other household costs to account for, such as Council Tax, Utility Bills, Food Shopping, Life Insurance, Buildings and Contents Insurance etc.

Where appropriate we will obtain an ‘Agreement in Principle’ from a lender, which will give you the confidence of knowing that a mortgage is available to you and just how much you can borrow.

If you need help in working out the costs of moving please download our ‘Home Purchase Cost Summary’ and/or our ‘Budget Planner’.

More About First Time Buyer Mortgages

Many lenders offer specific mortgage products to assist first time buyers. These can include 100% mortgages, mortgages with lower set up fees and sometimes free property valuations, they may also offer help towards your moving costs or allow some of these to be added to your mortgage.

There are also several initiatives available to help first time buyers such as the Government's Key Worker Scheme and Shared Ownership projects. These can often make the first step onto the property ladder possible.

Some lenders will accept guarantors or will include parents within a mortgage, often allowing a larger mortgage to be made available. Professional and Graduate mortgages can also benefit first time buyers who either hold an appropriate qualification or are employed within one of a number of professions, such as Doctors, Solicitors, Accountants and Teachers (qualifying professions are subject to individual lenders criteria).

If you would like more information please contact us.

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