First Time Buyers

A couple holding packing boxes as they move into their first house

We Can Advise On:

Affordability

It is vital as a first-time buyer to be sure that you can afford your new home. That’s why we always take into account your income and outgoings. You should, however, strive to get on the property ladder as soon as possible to avoid price rises and spending money on rent.

Deposits

There are no 100 per cent mortgages for first-time buyers. You will need at least a five per cent deposit and enough money for solicitors fees and other expenses. We can offer advice on deposits. A larger deposit will always result in a better mortgage rate too!

Types of Mortgage

The mortgage market is large and complex. Lenders offer many mortgage deals when you are buying your first home. Our job is to help guide you through this vast choice of options, including fixing rates, length of mortgage term and the effect of fees levied.

Credit Scoring

Your credit history will have an effect on your ability to get a mortgage and the rate you will pay. If you are planning to buy your first home then we can guide you through your credit file. You can then take action to improve or maintain your credit score.

Self-Employed

Mortgages for the self-employed are viewed differently by lenders. As a first-time buyer, you should present your accounts and employment status in a way that will ensure mortgage acceptance. Rely on our vast experience to help with this.

Help from Family

As a first-time buyer, you may ask another family member to help you with a deposit. A larger deposit will result in a lower mortgage rate. Alternatively, you may decide to share the cost of purchase. Ask for our advice on the best ways to proceed.

Mortgage Protection

Mortgage protection provides great peace of mind. Life insurance, critical illness cover and income protection give re-assurance for young families that their home will be safe if the worst happens. Policies are always cheaper for young, healthy home buyers.

Agreement in Principle

An Agreement in Principle (AIP), is a basic commitment from a lender detailing what you should be able to borrow. Usually valid for 90 days, they provide an estate agent or house vendor assurance that you can raise funds to purchase a property.

Conveyancing Solicitors

When purchasing a property, you must appoint a solicitor to handle all legal aspects. Those new to the process, particularly first-time buyers, cannot be sure which one to choose. Ours are swift and efficient and provide fixed-cost certainty.

Some Useful Resources

Quick Mortgage Calculator

mlcalc

Head Office

The Mortgage Store
64 Gold Street
Kettering
Northamptonshire
NN16 8JB

+44 (0)800 310 0051

Convenient and Accessible

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Disclaimer

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. There is no charge for a mortgage consultation, quotations or providing an agreement in principle.  A fee of £299 is payable on submission of a full mortgage application.

The Mortgage Store (Ian Wilson) limited is authorised and regulated by the Financial Conduct Authority. Financial Services Registered number for The Mortgage Store (Ian Wilson) limited is 784801.  The Mortgage Store (Ian Wilson) limited is registered in England and Wales No: 9447172. Registered and trading address is 64 Gold Street, Kettering NN16 8JB.The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. If you contact us by e-mail, we may store your name and address to facilitate communications.

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Complaints

If you wish to register a complaint, please write to Ian Wilson, The Mortgage Store, 64 Gold Street, Kettering, NN16 8JB or telephone 01536 310220. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.