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First Time Buyers
Mortgages

Buying your first property will for most people be a daunting prospect. How do I find a property? Will I be able to secure a mortgage? How much can I afford? These are all questions that will be asked before you can start and the answers will have a significant effect on what you end up with.

Applying for a mortgage and buying a home, especially if you are a first time buyer is a very stressful event in anyone’s life. Knowing what to expect and having the right professional people help you through the process can not only make things a lot easier, but will most probably ensure that you find the home that you want at the price that you can afford. A mortgage application involves several steps and takes on average about two months to complete (this depends on various external factors within the process, so this guide time should only be taken as a rough estimate).

The amount you will be able to borrow is determined mainly by your income and your expenditure. The process for determining this amount varies from lender to lender, but normally you can borrow between 3 and 5 times your income on a single application and 2 and 4 times your income on a joint application. It is possible to ad up to four applicants on one mortgage. Other factors that can affect your success are your residential status and the amount of deposit you have available to put down. Affordability has become a major measurement tool for banks in determining whether you will qualify for a mortgage and how much they will lend to you. Your credit record also plays a significant role in the success of your application and which mortgage product you will qualify for. Where possible, manage and protect your credit record at all times as it is a valuable asset.

Considering the possible savings that can be achieved by finding a lower interest rate or the increased costs and payments associated with the wrong product, mortgaging is not to be taken lightly and must be seen as an opportunity. Relying on your independent advisor will ensure that you have a professional person searching the entire market for the best possible deal. Your advisor will negotiate with the bank and do the application on your behalf and guide you through the maze of products and potholes. Using specialised software systems, only available to independent advisors, we can search the entire market and compare mortgages to the last detail. We are regulated by the Financial Services Authority (www.fsa.gov.uk) which means we adhere to the highest standards set by them and in most cases we exceed their requirements. For the use of one of our independent advisors we will charge you a small administration fee, but you will receive exceptional guidance and service that is guaranteed. If you are not completely satisfied with your advisor or we can not secure you a mortgage, we will refund the administration fee you paid. Follow the link for more information on our fees and charges.

How do I start the process?

Contact us, either by email or phone at 08456711100 for a friendly no obligation discussion with one of our qualified advisors. This will give you a good idea of what is available and what to expect. If you require, our advisors will give you a free quote with the best deals available at this time.

Please read our complete discussion on the mortgage process.