First Time Buyers Mortgages

Getting onto the property ladder can be a big step, so let us help you get the keys to your own home with the help of our first time buyer mortgage advice from CeMAP qualified mortgage advisers.
First time buyer mortgages are aimed specifically at first-time buyers. They tend to include more deals and incentives, such as cashback or a higher LTV (which means the deposit can be lower) with the aim of helping people get onto the property ladder.

How do first-time buyers get a mortgage?

When first time buyers apply for a mortgage, a lender will look at their annual salary and other incomes you receive, as well as outgoings, to assess your affordability. They will also check credit history to see if the applicant is a reliable borrower and will use this information to decide how much can be borrowed. Mortgage providers will usually have a maximum loan-to-value that they’re prepared to offer.

When do you apply for a first time mortgage?

It would be beneficial to get a mortgage agreement in principle from a lender before you start viewing properties. Doing so will give you an idea of how much you can borrow, and it will prove to estate agents how serious you are about buying.

Some lenders will carry out a hard credit check – which then appears on your credit file – and some lenders will run a soft search – which won’t affect your credit score. Your offer should last between 30 and 180 days, so keep in mind that this will only be an estimate and isn’t a guaranteed mortgage offer.

You can apply for a first time mortgage if:

    • You are buying a UK property
    • You are a UK resident or have full rights to live in the UK
    • You are at least 18 years old.

There are plenty of first time buyer mortgage deals on the market, but the two main types are variable rate and fixed rate. We’re here to help you through the process with a jargon-free approach, sourcing different types of schemes and policies to help find one best suited to you.

First time buyer mortgages in Chelmsford

As professional and certified mortgage advisers on the Wirral and in Essex, we have access to a large market of options, some of which are only available to brokers like ourselves. Due to our excellent relationships with the mortgages we arrange and our relationships with lenders, we also have exclusive access to rates that other brokers cannot access.

How Dan The Mortgage Man Can Help

Dan The Mortgage Man is an expert at finding and arranging the right mortgage for clients across the country. We search hundreds of mortgages to find the right one for you, and our friendly, professional and CeMAP qualified mortgage advisers will help to guide you in the right direction. We’re here to make the process less stressful for you so you can focus on the moving-in element.

A one-stop shop

Thanks to our extensive history in the property and finance industries, we can help First Time Buyers by recommending solicitors, surveyors and removal companies, all of which will help reduce the stress of buying your first property.

For more first-time buyer advice, please call us on 07837 820 894 or email info@DanTheMortgageMan.co.uk.

We have access to a wide range of lenders

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