First-Time Buyer Mortgages

You may find buying your first home a little bit daunting.

With the challenge of finding your first property, choosing the most suitable mortgage, selecting the best solicitor and making sure the whole process runs smoothly, you may find the information below useful to help you achieve the first rung of the property ladder.

The first step is to call us to discuss the options available to you. It doesn’t matter if you haven’t found a property just yet. We can provide initial guidance which will help you select a property within your price range.

In the meantime, we’ve outlined below some background information on mortgages for first-time buyers that we hope you’ll find useful. 

How much can I borrow?

The mortgage offer you can get depends on your income. Some lenders use a multiple of your income whereas others look at how much you can afford based on your income, your outgoings and any loans or debts you have outstanding. Some lenders offer very good deals for first-time buyers, so it always worth asking your adviser to research the market on your behalf.

What other costs do I need to be aware of?

You may also have fees to pay to the lender for your mortgage. These could be an arrangement fee and/or a booking fee. We will give you a full breakdown of any fees you will be expected to pay.

It is also worth remembering the additional costs, on top of your deposit and mortgage that you will be expected to pay.

• Stamp duty
• Property valuation and optional survey
• Solicitor’s fees
• Moving costs