First time buyers
When you’re ready to take your first step onto the property ladder you will want to be sure you choose a mortgage tailored to your needs.
We all know that moving house is one of the most stressful things you can do in your life, but it is also one of the most exciting, especially for first time buyers who are often breaking away from the family home for the first time.
Being a first time buyer offers many freedoms and opportunities
No place to sell, so no property chain to contend with. However you will normally need to save a reasonable deposit for your new home.
The minimum deposit you will generally need is 5% (there are some lenders now offering 100% mortgages) of the purchase price, depending on the value of the property you want to buy. However, this is a relatively small deposit that is likely to limit the range of mortgage deals you can access. If you can save 10% or 15% of the purchase price you will be able to choose from a wider pool of lenders and benefit from more competitive interest rates.
If you can save 20% or more, you will have access to some of the most competitive interest rates on the market and pay less to your lender over the course of your mortgage term.
Whatever option you choose, you can rest assured that from our initial meeting and provision of first time mortgage recommendations, through to the mortgage in principle, Mortgage application, continuous contact with solicitors and estate agents, and the exchange of contracts, we’re by your side throughout.