First Time Buyer Mortgage Advice

First Time Buyer Mortgages in Derby

If you’re looking for a first time buyer mortgage then we can help! Perhaps you have found your first home or  just need to find out how much you can borrow? Talk to our mortgage advisor in Derby, or find out more below.

How much can you borrow on a first time buyer mortgage?

Depending on the lender you may even be able to get a mortgage with no deposit at all. There are such things as 95% mortgages (5% deposit) and even 100% mortgages where you personally would not need a deposit, however family members may need to help out.

There are also plenty of Government Help to Buy schemes to get you onto the housing ladder whilst spending as little money as possible.

By sitting down with a mortgage advisor you will be able to understand how much you can afford to borrow. The figure can always vary but some of the things mortgage lenders look at are:

  • Your monthly income
  • Your rough monthly expenditure
  • Any loans or unpaid credit cards
  • Any other debts, if any

What will happen during the first time buyer mortgage appointment?

During your appointment our mortgage advisors will chat to you about the mortgage process. The general steps are as follows:

  • Our mortgage advisors will chat to you to find out how much you can borrow.
  • They will look at a variety of deals to find one of the best which works for you. They’ll also provide examples and explain why these are some of the best deals.
  • If the deal works for you then you will get a decision in principle. This is a certificate which states a mortgage lender should be able to lend you the money, although in rare circumstances this can change. You can use this decision in principle to make offers on properties with estate agents.
  • Once you have had an offer accepted on the perfect property, the mortgage advisors will be able to help you through the whole application process.

Are you now looking for a first time buyer mortgage?

Use the form below to ask any questions and find one of the best mortgage deals for you.

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