If you are a first-time buyer, no doubt you will have a lot of questions to ask. A mortgage is the biggest single financial transaction for most people's lives, and can be a daunting affair. Should I go to a bank, a building society or a specialist lender? Should I opt for a fixed rate, a capped rate, a discount or a tracker? How much can I borrow, and how much will it cost me? How much can I afford and how should I repay it? We will lead you by the hand through the mortgage maze, and show you the best way to go. The hassle can be minimised by being as well prepared as possible.
Having helped literally thousands of first-time buyers in the past, we will tell you everything you need to know about the mortgage process. Before looking for a home, it is sensible to calculate your budget. The mortgages available will largely depend on your income. We will sit down with you and work out together how much you can afford. We will then work out which mortgage lender and rate will be best for you, based on your own personal circumstances. Would a fixed rate be best for you or a tracker? How long do you want your mortgage over? And are there any incentives, such as a free valuation or cashback? We will work hard to establish which type of mortgage would be best for you, and then find the best rate available to suit. We can offer advice on the buying process, and can assist you with any paperwork you may receive as part of the service. We really do aim to be the 'one-stop shop' for first-time buyers.
We can arrange an 'agreement in principle', which is a certificate from a lender saying how much they are prepared to lend you. This can be extremely useful - it may well put you in a better light to a prospective vendor / estate agent, meaning you are more likely to get the house you want!
As an added extra, we will also put you in our reminder database - when your mortgage is due for renewal, we will contact you to see if we can get you on an even better rate!
There are plenty of specific first-time buyer mortgages out there these days, including shared ownership or shared equity, guarantor mortgages and 95% (or no-deposit) deals. Mortgages are also available for Key Workers, and in some instances you can buy with a Housing Association. Contact us in the office if you are a first time buyer, and would like a chat about what would be best for you.
Moving house is not just about getting the right mortgage! There are 101 other things to take into consideration. We can put you in touch with a solicitor to lead you through the purchase process.