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First Time Buyer Mortgage

If you're looking to buy a home, you'll most likely need to apply for a mortgage. It's a loan which is secured against your property.

Securing a mortgage for your first home can be a lengthy and confusing process with lots of decisions to make. This is why having a broker is likely to be of great benefit. We will help you make sense of the process and help you navigate any potential pitfalls and problems you may face. We will spend the time with you to collate all your information, demands and needs, from completing the affordability assessment to advising you on the loan amount you would require and the likelihood of you being able to obtain.

Government backed help to buy scheme

Government backed schemes

Over recent years the government has backed a number of schemes. In April 2021 there is a new scheme available called an "Equity Loan Scheme".

You can get a low-interest loan towards your deposit. This is called an equity loan. A new Help to Buy - Equity Loan scheme is open to first-time buyers, it will only be available for two-years from 1 April 2021 and will end on 31 March 2023.

We can explain the details of any schemes and whether you can benefit from them.

Check your finances

The size of your mortgage will be affected by your deposit – this is the amount you will be personally contributing to the house purchase. Usually, the larger the deposit, the cheaper the mortgage deal you will be able to get which, in turn, will help to reduce your monthly repayments.

Approval or Decision in Principal

Before you decide to purchase a home, you would need to know how much you can afford to borrow. What is your budget? To that end we will assist you in applying for an Approval or Decision in Principle (AIP or DIP) from a suitable lender. An AIP/DIP is essentially a mortgage decision from a lender which confirms that the lender is willing to consider a mortgage application from you and the amount the lender is in principle prepared to lend you.

Having an AIP/DIP can help you get ahead of the competition when making an offer on a property as it demonstrates your mortgage application will be considered by a lender up to the stated amount. However, this does not guarantee a mortgage offer.

An AIP/DIP gives you the opportunity to return to your full application later after you've had an offer accepted.

Check out a mortgage deal

When you're buying your first home, you will have specific needs when it comes to finding a mortgage that suits you best. We have access to a comprehensive range of mortgage products from across the market that we can talk you through from fixed rates to variable rates and from capped rates to offset mortgages. You don’t have to worry about all these foreign terms as our experts will simplify everything for you, while ensuring that you have all the necessary information to make an informed decision.

As a self-employed or freelance contractor, you may mistakenly assume that acquiring a first-time mortgage is an impossibility. We have the experience and understanding of the market to assist anyone who is looking to make their first home purchase and will be able to guide and advise you as you require.

You may be able to receive financial help through a government Help to Buy scheme if you can't afford to buy a home. We can discuss this with you when you're ready.

The important thing is to find a mortgage that suits you!

Complete your application

Once you're ready to proceed, we will complete a full mortgage application, on your behalf. This is where we compile the details of your property and the type of mortgage you want to proceed with.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.