First Time Buyer Mortgage Advice

Are you looking for first time buyer mortgage advice or first time buyer mortgages? Whether you have already found a first home or are still looking then we can help.

We lay out some important tips for how to potentially get some of the best first time buyer mortgage deals.

First Time Buyers: How much can you borrow?

Typically you will need a deposit and a good income. There are all sorts of mortgage deals though, all with varying deposit sizes.

Depending on the lender you may even be able to get a mortgage with no deposit at all. There are 95% mortgages (5% deposit) and even 100% mortgages where you personally would not need a deposit, however family members would need to help out.

There are also Government Help to Buy schemes to get you onto the housing ladder. These tend to lend you money to help you afford that perfect home.

To learn more about the criteria for each of these or to find out more about other mortgage schemes that might be available, we would recommend visiting the government OwnYourHome website.

By sitting down with a mortgage broker you will be able to understand how much you can afford to borrow. The figure can always vary but some of the things mortgage lenders look at are:

  • Your monthly income
  • Your rough monthly expenditure
  • Any loans or unpaid credit cards
  • Any other debts

Your first time buyer mortgage appointment

During your first time buyer mortgage appointment our mortgage broker will chat to you about the whole process. The general steps are as follows:

  • Our mortgage brokers will chat to you to find out how much you can borrow.
  • They will compare the whole of the market to find one of the best which works for you. They’ll also provide examples and explain why these are some of the best deals available to you.
  • If the deal works for you then you will get a decision in principle (DIP). This is a certificate which states a mortgage lender should be able to lend you the money, although in rare circumstances this can change. You can use this decision in principle to make offers on properties with estate agents. Decisions in principle are sometimes called agreements in principle (AIP).
  • Once you have had an offer accepted on the perfect property, the mortgage advisors will be able to help you through the whole application process. Everything will be done for you until you have the keys to your new home.

Are you now looking for a first time buyer mortgage?

Use the form below to ask any questions and find one of the best mortgage deals for you.


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