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First-Time Buyer Mortgages


Finding a mortgage for the first time can be a daunting task. We are here to help.

There are so many mortgages to choose from and so many options to consider. So when looking for the right mortgage as a first-time buyer, Mortgage Mom can help you find what suits your budget and offer you a helping hand in the right direction, get in touch for first-time buyer advice today!


First Time Home Buyer Mortgage Advice Birmingham

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 through 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.


Trustworthy 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.

What to Consider When Buying Your First House

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.

Model House On Top Of Money

How Much Deposit Do You Need to Buy a House?

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.

Affordable Home-Buyer Schemes

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.

Finding the Right Mortgage for You

There are thousands of mortgage products available to first time buyers in Birmingham and the rest of the UK. When you contact us for mortgage advice on finding the right mortgage for you, 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. This means that instead of just using your current bank, you can instantly access of 70+ lenders without having to lift a finger. This part of the mortgage advice for first time buyers is completely free.

Mortgage Application Process for First Time Buyers

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.


Got Questions About Buying Your First Home?

If you are a first time buyer and you are looking for advice or have any questions to do with budget, affordability, credit rating, mortgage products or anything else. Please feel free to get in touch. We can help you.

Speak to the Experts, Choose Mortgage Mom

We understand the complexities and confusion surrounding mortgages and pride ourselves on being able to offer mortgage advice for first time buyers, home movers and landlords throughout Birmingham and the UK. Our advice is bespoke and tailored to each individual client needs. Get in touch with us today.

Ready to Sort That Mortgage?

Getting a safe mortgage is essential when buying a new home. We are here to make sure that happens.

Contact us today.