Mortgages for First Time Buyers

Buying your first home is an exciting yet daunting prospect, especially in today’s current economic climate. However, we are committed to making it as stress-free and seamless as possible.

In a fast moving market, we understand you need to be able to move swiftly and with confidence.

You could trawl the high street and the Internet to see which deals are suitable, you could even talk to a mortgage adviser at your local bank, but they will be restricted to selling you their own mortgage products. By using an impartial, independent whole of market broker, we can offer free, impartial advice to ensure that your needs are prioritised over the lenders’ profits.

As a first time buyer, we appreciate that you will have many questions that need answering. It’s not as simple as just finding a home; you will also want to know:

  • How much can I borrow?
  • What type of mortgage should I apply for?
  • How long will it take to secure a mortgage offer?
  • How much deposit will I need?
  • What’s the most efficient way to save for a deposit?
  • Are there any additional costs when buying a home?
  • Will I be accepted for a mortgage?
  • What is a Home Report?
  • What happens once my mortgage application is accepted?

As well as mainstream mortgages, we will also look at Guarantor mortgages and Shared Owner/Equity mortgages to give you a few other options. Once you have found a property you would like to buy, we will help you from start to finish, liaising with estate agents, solicitors, and surveyors as required.

We will also obtain an Agreement In Principle (AIP) if appropriate, and we won’t charge a penny to get you this far.

Initial consultation

Before we can make a firm recommendation on a suitable mortgage, we will need to gather detailed information from you. We need to understand your financial circumstances to be able to offer you the best possible advice.

You will need to gather details of your household income, expenditure, details of any loans, credit cards, as well as utility bills and also any regular outgoings such as season tickets or childcare costs.  You can find more on this in our ‘Be Prepared’ section.

Bespoke individual services for each client is key to what we offer. After reviewing your details and documents, we will make recommendations based on the best possible choices for you.

We will explain your options simply and clearly, and when you are ready to progress with your mortgage, we will work to make the experience as stress-free as possible.

What’s more, working with a professional adviser from Mortgage Advice Brokerage will put you in a stronger position when dealing with estate agents and make a difference to help you secure the property.

Applying for a mortgage

Once we have submitted a mortgage application, we will keep you fully informed every step of the way. We can liaise with solicitors and estate agents as well to help smooth out the process.

Mortgage protection

It is crucial to protect your new home, your income and your mortgage. Again we can offer you expert advice, explain your options and help set up your policy. We can also recommend conveyancing firms who will be able to provide the legal advice you will also need.