If you are a first-time buyer our team of experienced mortgage advisors are on hand to help you through the entire process.

We can help if:

• You only have a small deposit (5%)
• You are using a gift from your family
• Only have a limited credit history

First-time buyer mortgages are home loans specifically designed for individuals who are purchasing their first property. These mortgages often offer favorable terms and conditions to help new buyers like you to get onto the property ladder. Some mortgages may have lower deposit requirements, reduced interest rates to assist first-time buyers. It’s important to research and compare different mortgage options available from various lenders which we are on hand to help you through and find the very best deal to fit for your needs!

One of the most important pieces of advice for first-time buyers is to be prepared! The mortgage which you are accepted for depends on a multitude of areas such as annual income, credit commitments, debts and also your credit history.

Preparation is key

Our recommended list to get started: 

1. Know what to expect – how long a mortgage application may take, what documents do I need to get ready? What is a valuation? These are questions an adviser can run through with you.
2. Check your credit report to ensure there are no outstanding payments, you’re showing on the electoral roll, and it accurately reflects your position.
3. If you’re employed, do you have your payslips filed or saved? Have you been paid for what you’ve worked? Additional payments such as bonus, overtime, commission, car allowance, night shift, locum work (and lot’s more!) can all be taken into consideration for your mortgage application as a first time buyer, but they need to be shown on your payslips to be included.
4. If you’re self-employed, have you filed your tax return yet? Are your accounts up to date? Lenders may want recent and previous years tax calculations and/or accounts.
5. Do you know how much you can borrow? You want to make sure that you have a rough guide of your lending amount. Talk to one of our advisers, who can give you an idea of your borrowing potential, and look at applying for a Decision in Principle (This is sometimes referred to as an Agreement or Mortgage in Principle).
6. Save, save, save! As well as using your money for your deposit, there can be extra costs involved such as legal or conveyancing fees or product fee’s from the mortgage company we place you with albeit a lot of mortgage deals offer incentives such as the afore mentioned costs to be ‘fee free’ 

There are a variety of options available to you as a first-time buyer looking for a mortgage. Our advisers will personally work with you, to find the right one for your circumstances.

Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.