Mortgage Help for First-Time Buyers
Buying your first home should be exciting but not overwhelming. With so much jargon like fixed rates, variable rates, loan-to-value, and repayment types, it’s easy to feel lost early on.
That’s why we can help you understand your options from day one. We’ll explain everything in plain English, guide you through the application process, and handle the paperwork if you choose to move forward.
Your Deposit and Additional Costs
Many lenders offer mortgages with deposits starting from 5%, but in some cases, there may also be options available where no deposit is required, depending on your circumstances. We’ll help you understand what’s realistic for you.
Alongside your deposit, you’ll need to budget for costs such as:
- Solicitor or conveyancing fees
- Stamp duty (where applicable)
- Buildings and contents insurance
- Life insurance
We’ll make sure you’re fully prepared before you move forward.
First Time Buyer Schemes
Options like shared ownership allow you to purchase a percentage of a property and increase your share over time, while equity loan schemes can reduce the size of the mortgage you need on a new-build home.
We’ll guide you through the schemes available and help you choose the right path for your first purchase.
Purchasing a New Property
Whether you’re moving to a larger property, downsizing or moving to a different area your reasons for buying will shape the mortgage options available to you.
We take the time to understand your goals and recommend mortgage solutions that align with your financial situation and long-term plans.
What Can You Afford?
Before starting your property search, it’s important to know your budget. We’ll help you assess:
- Your borrowing capacity
- Monthly affordability
- Upfront costs, including stamp duty and legal fees
- Any early repayment charges on existing mortgages
What Is Equity?
Equity is the value of your ownership in a property. As you repay your mortgage and property values change, your equity can increase, giving you more financial flexibility in the future.
Remortgaging Your Property
If your current mortgage deal is coming to an end, now is the time to review your options.
Most lenders offer attractive rates for an initial fixed term (typically 2–10 years). Once that ends, your mortgage often switches to a higher standard variable rate. We help you avoid unnecessary costs by finding better deals before that happens.
A Simple Process
Remortgaging doesn’t have to be complicated. Whether you stay with your current lender or switch to a new one, we’ll handle the process and secure a competitive rate that suits your needs.
Raising Capital
Remortgaging can also allow you to release equity from your home. This can be used for:
- Home improvements
- Debt consolidation
- Purchasing another property
- Major expenses
Buy-to-Let Mortgages
If you’re purchasing a property to rent out, you’ll need a specialist buy-to-let mortgage. We’ll help you understand:
- Deposit requirements
- Rental income expectations
- Tax implications
- Regulatory considerations
Standard Buy-to-Let
Designed for individuals purchasing property to rent out, with lending based largely on expected rental income.
Limited Company Buy-to-Let
If you’re buying through a company structure, you’ll need a specialist mortgage tailored to limited company ownership.