Mortgage Types

First Time Buyer

Getting a mortgage for first-time buyers was quite difficult when the house prices where rising sharply. The recent credit crunch crisis has made things even worse. These days first time buyers find it extremely difficult to secure a mortgage.

The mortgages deals that are available on the market currently require a decent deposit. Also the mortgage lenders have tightened their lending criteria. In these uncertain times it is highly recommended that you get advice from an established mortgage broker, who can not only help you secure a mortgage but will be able to get you the best mortgage deal available in the market based on your circumstances.

Here are few tips:

• Work out your monthly affordability i.e. mortgage payment per month that you can afford.
• Arrange a large deposit, as much as you can. Can your parents help?
• Get independent advice from an FSA authorised advisor. We can help you find a trusted and regulated advisor.
• Avoid making multiple applications to lenders as this affect your credit rating each time they do a credit search.
• Resist the temptation of going for any incentives like low initial repayments. Assess the cost of the mortgage on a longer term basis.

There are few other options available to you includes sharing a mortgage, guarantor mortgages and even government schemes for key workers or first time buyers struggling to afford a mortgage.

Whatever your circumstances, let us help you find the best mortgage deal in the market. Start your search using our online form and get a free quote now!