FIRST TIME BUYER

Taking your first step on the property ladder can seem a daunting and overwhelming prospect; we are here to help you.

The best option is to let us do the 'shopping around' and find the best deal, many lenders that we deal with offer special deals to first time buyers.
The first and most important step is to decide how much you can afford, work out a budget and stick to it.  The mortgage available to you will largely depend on your monthly income and outgoings.

This is quite simple.  What are your monthly outgoings, such as credit card repayments, utilities, car etc, now what is the positive difference between your monthly income and your monthly outgoings? This figure is your affordability; how much you can realistically
allocate to spend on your mortgage.

Other easily forgotten costs tied up with buying a property include legal costs, stamp duty, a deposit and mortgage guarantee charges. Don't forget them!

 

 

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Disclaimer:
Think carefully before securing other debts against your home. Your home maybe repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. A fee of between 0.5% and 1% of the mortgage advance will be payable on completion. The level of this fee will be based on the complexity  of your case (typically a mortgage of £100,000 the maximum fee will be £1000). In addition, we will also be paid commission from the lender. The overall cost for comparison is 7.60% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.