First Time Buyer

First time buyer – The mortgage process explained

Getting started

Before you start looking for a house, it is important to find out
how much you can afford to borrow and it may help if you get a mortgage Decision in Principle so you know that a mortgage will be available to you. As mortgage advisers we have access to the whole of the market and can tell you how much a lender may be prepared to lend to you.

At this point we would recommend it would also be worth getting all your documentation together – the lender will normally need to see such things as identification, proof of income and proof of residence. If you have any doubts at all about your credit worthiness it would also be worth getting hold of your credit report.

As a first time buyer looking to get on the property ladder, you need reassurance that a mortgage will be available to you.

Whilst 100% mortgages are generally no longer available without additional security such as a charge on a parent’s property, the Government backed Help to Buy scheme has made 95% mortgages more accessible to those with a limited deposit.

We offer you a Free Initial consultation to find out how much you can borrow and approach a lender for you to get a mortgage decision in principle. Again this is at no cost and does not bind you to a particular lender if a better deal is available when you do actually need to make your full mortgage application.

How we can help first time buyers

Securing a mortgage, can be a daunting experience. Our expertise enables us to:

  • Look at your income and any existing commitments you have and determine a monthly budget and arrive at a mortgage figure that should be affordable to you
  • Get you a Mortgage Decision in Principal to verify your maximum borrowing capacity
  • Complete a full financial review and explain the different mortgage schemes, types of valuations and all the costs involved in getting a mortgage
  • Arrive at what we would recommend to be the best option for you and provide you with full illustrations
  • Complete a mortgage application with you to submit to the chosen lender and do all the work needed to get your Mortgage Offer produced
  • Recommend a solicitor to you if required
  • Advise you on what insurances you should consider
  • Liaise with the lender, estate agent, solicitor etc. to move you as swiftly as possible to completion of the purchase

If you wish to discuss your requirements please contact us by email or fill in the short enquiry form and one of our advisers will come straight back to you

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Advise & Apply

Once you’re happy with your mortgage deal, we submit a fully packaged application to the chosen lender, thereafter we’ll support you through to completion.

Compare the market

Then we’ll compare the whole of the mortgage market to find the best deal for you. Being directly authorised we are not restricted to a small number of lenders so we’re confident we can find a lender that suit you.

Getting to know you

First we need to know a bit about you and what you would like to achieve, we can collect all of this information through our online form or over the phone, whichever suits you best.

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