First Time Buyer Mortgage
If you're looking to buy a home, you'll most likely need to apply for a mortgage. It's a loan which is secured against the value of the property.
Securing a mortgage for your first home can be a lengthly process and confusing, with so many decisions to make.
Check your finances
The size of your mortgage will be effected by your deposit – this is the amount you will be contributing to the house purchase. Usually, the larger the deposit, the better mortgage deal you will be able to get which will help to reduce your monthly repayments.
Approval in Principal
Getting a lending decision (also called the 'Approval in Principle' or 'AIP'). We can apply for an Approval in Principle from a suitable lender. This will confirm that the lender is willing to consider a mortgage application from you and up to what amount.
Having an Approval in Principle can help you get ahead of the competition when making an offer on a property as it demonstrates your mortgage application will be considered by a lender up to stated amount.
Check out a mortgage deal
When you're buying your first home you will have specific needs when it comes to finding a mortgage that suits you best. We have access to a comprehensive range of mortgage products from across the market that we can talk you through from fixed rate, variable rates, capped to offset.
You may be able to get financial help through a government home ownership scheme if you can't afford to buy a home. We can discuss this with you when you're ready.
Complete your application
Once you're ready to proceed, you will need to complete a full mortgage application. This is where you fill out details of your property and the type of mortgage you want to proceed with.
There will be a fee for Mortgage advice. The minimum amount is £395, however depending on your circumstances a maximum amount up to 1% of the mortgage amount may be charged depending on individual circumstances (i.e. £1,000 on a £100,000 mortgage).
Your property may be repossessed if you do not keep up repayments on your mortgage.