First Time Buyer

Buying your first house is a real adventure – it can also be daunting! We’re here to find you the perfect mortgage and guide you through and make the process stress free and straightforward

We know that as First time Buyers, you will have a lot of questions, this is no problem and we are happy to answer any questions you may have, here is some helpful information to get you started;

The first question usually asked is how much can we borrow? A lender assesses a number of factors when establishing how much you can borrow and each lender calculates the amount you can borrow differently and what deposit you have available can also determine the loan amount offered, so it’s important to seek advice from professionals like us and we can recommend a lender who best suits your circumstances.

Finding the best mortgage is not always about who offers the cheapest interest rate, there are lots of factors to consider such as arrangement fees that a lender charges, any free valuations that may be offered and also some lenders even offer cash back, we look at the whole package for you to make sure you get the best deal that’s perfect for you.

You can fill in the quick mortgage enquiry form on this page and we will send you some illustrations so that you can see how much a mortgage will cost you in terms of monthly repayments and any fees that may be payable.  We will search thousands of mortgage deals so you don’t have to!

Alternatively, if you would like us to run through a fact find with you and provide us with your income and expenses so that we can let you know how much you are able to borrow and send you some personal illustrations, please just click on the contact us button and an adviser will contact you to arrange this.  There will be no credit check done at this stage, this is just simply advising how much you can borrow and how much it will cost you!

Once you are happy with your illustrations, you can then apply for an Agreement in Principle/Decision in Principle (AIP/DIP), this is your promise from the lender that they will grant you a mortgage, this will involve a credit check and we will need some documents from you to apply such as payslips, bank statements etc.  Most Estate Agents like to see a copy of this before they will let you put an offer in on a property.

Once you have found a property, we then submit the full mortgage application to the lender and pay any valuation/survey fees applicable.

At this stage, you will also need to appoint a solicitor, we can also help with this and appoint one for you.

Once the lender has assessed your application, received your proofs of income and the valuation report, they then issue the mortgage offer.

The costs to consider when purchasing your first property are as follows;

1. The deposit you are putting down towards your purchase
2. Any upfront costs for the mortgage ie the valuation/survey fee
3. Any arrangement fees charged by the lender – these can usually be added to the loan
4. Solicitors fees
5. Stamp duty
6. Insurance – both household insurance and Mortgage Life Insurance/income protection, we can help with both of these any will send you quotes.