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First-time Buyer & Home-mover
Concerned there's too much to do?
Buying a home can be stressful, but it shouldn't be. We can guide you through the process and put your mind at ease. Having one person you can always come to throughout the process is a great benefit
If you are a first time buyer people will tell you that buying a home is very difficult or at the very least, daunting.
That thought is why First Time Buyers now trust impartial advisers to avoid banking jargon and the myriad of differing criteria to find the best deals for them. It is not only the interest rate that needs to be considered, arrangement fees such as product, booking and valuation need to be taken into account. On top of that is the lender suited for your situation? Will they take two days or two weeks to review the documents attached to your application? How important is speed and the certainty that your application will be agreed?
Whether you are a First Time Buyer or moving home it is advisable to speak to a broker first to confirm how much you should be able to borrow plus the potential costs. Alongside the mortgage you will want to think about what type of valuation or survey you would require and if you have a suitable solicitor.
We have helpful guides for First Time Buyers and handy checklists to take along to a viewing, see below.
For First Time Buyers the sixth largest “bank” is that of the parents. Part of the deposit will often come from the parents and will be a gift, with no legal charge on the money given. This is normally fine with lenders although they (plus solicitors) may need to see the source of these funds for money laundering purposes.
A deposit from a loan (bank or family) or capital raising on another property are also eligible deposits if the funds are not initially yours.
Handy links
Budget Planner (download)
List of documents you should have for a mortgage application
First Time Buyer Guide
Checklist when viewing properties
Stamp Duty Guide
Stamp Duty Calculator
Please feel free to read our "Helping Hands" document in this link. This covers a wide range of information and is our guide to buying, remortgaging and protecting your home.
Your home may be repossessed if you do not keep up with your repayments on your mortgage.
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