First Time Buyer Mortgages

first time buyer mortgages

Buying your first home

Are you a first time buyer looking to purchase your first property? We can help you to find out how much you could potentially borrow.

How much can you borrow?

Most of the time you will need a minimum of 5% deposit. Generally speaking though, the higher the deposit, the less your monthly repayments will be.

There are also plenty of Government Help to Buy schemes to get you onto the housing ladder whilst spending as little money as possible.

By sitting down with a mortgage advisor you will be able to understand how much you can afford to borrow. The figure can always vary but some of the things mortgage lenders look at are:

  • Your monthly income
  • Your rough monthly expenditure
  • Any loans or unpaid credit cards
  • Any other debts, if any

During your appointment

During your appointment our mortgage advisors will chat to you about the mortgage process. The general steps are as follows:

  • Provide a few financial details and our broker will compare the whole of market to find out how much you could potentially borrow
  • They will look at a variety of deals to find one of the best which works for you. They’ll also provide examples and explain why these are some of the best deals.
  • If the deal works for you then you will get a decision in principle. This is a certificate which states a mortgage lender should be able to lend you the money, although in rare circumstances this can change. You can use this decision in principle to make offers on properties with estate agents.
  • Once your offer is accepted our advisors can handle almost all of the paperwork for you

Get advice now

Use the form below to ask any questions and find one of the best mortgage deals for you. Alternatively, visit our contact page. We have a mortgage broker in Wolverhampton, Coventry, Birmingham and other West Midlands cities.