Mortgages

First Time Buyers

HouseIf you are borrowing for the first time then you will want to find you the most suitable mortgage product for your circumstances. There are many lenders specialising in offering first time buyers a mortgage to suit their needs. If you are looking to borrow for a first time mortgage we will be able to introduce you to specialists who offer friendly, impartial help and advice in finding you the right product.

Am I a First Time Buyer?

A First Time Buyer, is someone who is new to the mortgage market and does not currently have a mortgage. Although there are some variations and these include;

A couple buying together where one has been a property owner previously.

Where someone has been out of the property market for 3 years or more before re entering.

House

You can take advantage of this expertise, for FREE!, through our relationship with leading mortgage specialists, who have access to many semi-exclusive deals and backed by their expert knowledge to find you the right product at the right price. So, sit back and relax - let the Mortgage experts search through the hundreds of products available and get the best one for you.

If you are new to the property market then we have put together a useful collection of information for you below. However you may know exactly what you have in mind and would like to have one of our First time buyer mortgage experts offer you a Free, No Obligation, Quotation. Then all you need do is click one of the houses below for the appropriate short form depending on your mortgage requirements. We will then email or telephone you to provide you with your FREE quote.

Do I need a deposit - I am buying for the first time?

House It is not always necessary. It is possible to borrow more than 100% value of the property and have no deposit to put down at all. The more you borrow the more you will have to pay back and the longer the mortgage term will have to be.

If I have a deposit what deposit is required?

There are some mortgages available with no deposit, but if you can put up a small deposit the options open to you are increased and we can trawl through many 100's more mortgage products to find the best one for you. Often the rates availble can be more competitive if you do have a deposit to put down. A deposit 0f 5% upwards can secure a better value mortgage.

Get Your Free Mortgage Quote Here

Can I borrow more than the value of the property?

Some people opt for a mortgage, that is the cost of the property and then a percentage more - usually 5 to 10%. This added cash helps if the borrower wishes to consolidate a debt within the new home loan or has fallen within a category that means they could borrow more to cover the cost of moving or home furnishings. Much depends on existing debts and income ratios. Not all first time buyers are young and on lower incomes.

What if I have existing debts?

Some lenders allow you to borrow up to 125% of the property value. With the extra borrowings you can use the funds to repay debts, pay stamp duty, legal fees and other costs. It also allows you arrange for any home improvements that may be necessary.