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Purchase (First Time Buyers)

If you have never had a mortgage, we can help find the right one for you.

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What is a First Time Buyer?

Do you still live at home? Have never had a mortgage? Or are you privately renting or living in social housing? If you answered ‘Yes’, then we can help you. In fact, if you haven’t had a mortgage for 3 years, we can also help you too, as some lenders may consider you a First Time Buyer.

Terms. Loan to Value (LTV) and Fixed and Variable rates. Your First Time Mortgage may seem complicated but it needn’t be with our help. Let us translate the technical talk so you can decide what you need before you call us.

What do we mean by mortgage?

Simply speaking, a mortgage is a loan to buy a property. It’s a loan that can typically last between 25 – 30 years (although 40-year mortgages are available) depending on your circumstances. And it’s a loan ‘secured’ against the value of the property…so if you fail to repay your monthly payments your home may be repossessed.

How much you can borrow will depend on your income, your outgoings and what you can afford to pay back to your lender each month.

For First Time Buyers there are many different types of ‘repayment’ mortgages on the market. A repayment mortgage means that as long as you make your payments each month, you’ll have repaid your mortgage at the end of your term and will own your home.

Now let’s consider rates. It’s not just the percentage rate you need to think about, it’s also the Loan to Value (LTV). This is simply the ratio of equity you own in the property. For example, if you have a 5% deposit the LTV will be 95%, 10% deposit would be 90% LTV and so on.

You could choose from a Fixed Rate, Variable Rate, Base Rate Tracker or Offset Mortgage.

Mortgage types explained

Mortgage Calculator

Our Clients' Reviews

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    to discuss it through. Many thanks!