First Time Buyer

Providing individual mortgage advice; unique to you

Buying your first home should be hugely exciting.  However, it can also be a very daunting experience, which is why it is important to get the right advice from the very start. There are many different mortgage products to choose from, so it is important to get the solution that meets your needs


But it is equally important to know how the whole purchasing process works – what is the running order? What are the timings? What does the “conclusion of missives” mean? What is a home report?

So, we will guide you through the following:

The purchase process as a whole

As experienced mortgage advisers, we understand how the whole process works. So we’ll explain the running order and timings, and ensure that you’re in the best possible position before you make an offer on your dream home.  Your purchase is much more likely to come to fruition if you’ve got the running order correct

How much can I borrow?

It is important to be realistic when working out how much you can spend on your new home. A budget planner will help to ensure your mortgage is affordable.

Lending Criteria

Which lenders will actually lend to you, based on their lending criteria and your credit score?

How much deposit will I need?

The size of deposit will ultimately determine the mortgage products that will be available.  Typically, the bigger the deposit, the better the mortgage product.  But huge deposits are not always essential.  Typically the minimum requirement is 5% of the purchase price.

Have you considered the other costs?

From Land & Buildings Transaction Tax (LBTT), if there is any, to legal fees and any mortgage-related fees – we’ll keep you right in this regard.

And even a newly built house will require furnishings, whereas older properties may require extensive work, such as re-flooring, tiling or renewing the wiring. These should be considered alongside the purchase price, and fees such as LBTT and solicitor’s fees.

What documents will I need?

This will usually depend on your employment status, but you’ll always be required to prove income, identification, address and where your deposit is coming from.  Again, we’ll keep you right in this regard

Mortgage Products

Fixed or Tracker?  2 years or 5 years? How many years should you borrow over? We’ll discuss the pros and cons of each option with you and help you arrive at the most suitable option

Remember a mortgage is a long-term commitment and there are tens of thousands of different products available, so it is important to arrive at the most suitable product for you.

Call our experts today for more information.




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