First Time Buyers
Buying your first home is a big step.
​Taking professional advice will not only ensure you end up with the most suitable mortgage but also maximise your chances of success.

If you're thinking of buying your first home with a mortgage, the information below may be of help
Call Us
02920 009 479
>
Rather just talk to someone?
Taking your first mortgage often seems rather daunting, but it needn't be. We will assess your financial situation in depth, go through your options with you and liaise with providers on your behalf. Before we make any application we'll have a very good idea of the outcome, which will reduce the risk of having to apply to multiple lenders as multiple searches on your credit record can reduce your credit score.

Your ability to take mortgage broadly boils down to your credit-worthiness (as measured in the main by your credit record), your ability to afford the mortgage and your ability to fund the deposit.
Am I eligible for my first mortgage?
What will I need to apply?
Requirements vary from lender to lender, but generally you'll need;
Proof of income. If you're employed this could be your last three payslips. If you're self employed this is usually the average of the last two years income as declared to HMRC.

A deposit... but not always. You should ideally be able to put down 10-20% of the house value as a minimum, however sometimes it's possible to mortgage without a deposit.
​
​A good or reasonable credit history. This varies dramatically from lender to lender.
>
>
>
Should I buy a house now?
Should you buy or rent? Is the housing market going to go up or down? ​Many of these issues are simply impossible to predict, but we will help you understand the factors involved and assess your ability to afford and service a mortgage long term.
​
Buying a house with a mortgage is a long term commitment. If you do decide to proceed, our advice will ensure you get the most suitable mortgage available to you on the whole of the market. We will only recommend a mortgage if it is truly affordable and we will also assess whether taking the mortgage will render other potential goals unaffordable - for example funding your retirement or your children's education.
Are you protected?
Most people accept that life insurance is important to protect your family when taking a mortgage. However, few contemplate whether their family will actually be able to run the home if they're gone.
>
>
Would your partner be able to support the household expenses when you're gone, even with the mortgage paid? If not (as is often the case) it may be possible to insure an income for the survivor, allowing them to become a full time single parent in financial security.

Would you be able to afford the mortgage if one or both of you was seriously ill long term? Critical illness insurance can pay off your mortgage in the event of heart attack, cancer and other "critical" conditions, but it can't replace the income of the ill partner. Income protection insurance could replace your income long term if you were seriously ill, but would it be sufficient to pay the mortgage?
Very often a single policy is not sufficient to protect a family. Your adviser will help you review your existing policies, identify the liabilities you face and make recommendations accordingly. We'd always advise that this is carried out when reviewing such an important long term solution as a mortgage, though of course this is strictly optional.