Let’s Get Your
Mortgage Sorted

Trustworthy mortgage
advice

For first-time home buyer mortgage advice, whether you are looking for a flat mortgage or a new build house mortgage, the Mortgage Mom can hold your hand through the entire process. From checking initial affordability and cross-checking credit reports to finding the right mortgage from the many mortgage lenders and making the application. The Mortgage Mom is the one-stop shop for first-time buyer mortgage advice.

The first piece of mortgage advice for a first-time buyer would be around the deposit. Your deposit is the amount of money you’ve saved up to put towards your first home and it will help determine how much you then need to borrow as a mortgage. The more money you’ve saved as a deposit, the less you’ll need to borrow from the bank. If you have little to no deposit then please let me know and we can discuss your options.

Find the right Mortgage

We will go through a full breakdown of your circumstances and then we can check with each lender what they may be able to lend. Instead of just using your current bank, you can instantly access 70+ lenders without having to lift a finger. This part of the process for first-time buyers is completely free.

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Frequently Asked Questions

Whether you are a first time buyer purchasing your own residential property or a first timer buyer purchasing a buy to let, one of the best pieces of mortgage advice to consider as well as your deposit amount is your credit rating. Having a poor credit rating may not stop you from getting a mortgage but it may mean that you can’t access the full spectrum of mortgage products available to first time buyers for residential and buy to let properties. If you are thinking of making a purchase and would like advice on your credit rating then the Mortgage Mom can help you with this.

There are some really low rates available to first time buyers for mortgages in the UK at the moment and the more deposit you have, the better rate you could get. Ideally, for first time buyers the advice would be to gather up a deposit that would be 10% of the property value. That being said, there are lenders out there that do accept applications with just a 5% deposit. These criteria change regularly and so the best advice would be to check in with us to see what is available in terms of products and your affordability.

Being a first time buyer can be a confusing time and the best thing to do is to get mortgage advice to make sure you are aware of all of the options available to you to help you get onto the property ladder. In a nutshell, the government have a range of first time buyer home buying schemes that can assist. Help to Buy – this offers a boost to first time buyers who can only raise a 5% deposit by way of an equity loan of up to 20% (40% if in London), the loan is interest free for the first 5 years and is only available for the purchase of certain properties. This is only available until March 2021. Shared ownership is another option that allows you to purchase a share of a home from a local Housing Association and pay an affordable rent on the part you don’t own. For more information and advice on these schemes and other options that may be available, please get in touch.

For first time buyers, the process for making an application is a step-by-step process that we can help with. Its starts with working out your budget, gathering your credit report information and checking your affordability with lenders, then finding the right mortgage product for you, getting an agreement in principle in place and then making an offer on a property.

Looking for
further advice?

We can advise on budget, affordability, credit rating, mortgage products and many other aspects of buying your first home.

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