First Time Buyers
We have helped many many first time buyers get a step on the property ladder, you may want to buy your first home to live in or maybe even a property to rent out, there are so many options and so many things to consider, unless you work in the industry then how are you going to know the best thing for you?
The biggest mistake I see with first time buyers is when they come to see me when they have already found a property and had their offer accepted, your journey with your mortgage adviser should start long before this! We can help you plan for the whole process such as saving up for your deposit, how much you can borrow, how much it will cost, making offers on your new home, surveys and conveyancing, insurances and much more - and the best part is we will not charge you for any of this, all of our initial meetings are completely free with no obligation, just read some of our testimonials to see how we have helped others.
Did you know you can get help towards your deposit when saving?
With the governments Lifetime Isa you can save up to £4,000 per year and the government will boost this by 25% to use as your deposit when you come to buy your first home.
There are rules with the account for example you must open the account and make your first payment in before age 40 and you must buy the property at least 12 months after you make your first payment into the account. The property needs to be £450,000 or less and you must purchase with the aid of a mortgage - we can certainly help with that one!
If you withdraw the money before age 60 for any other reason then you will pay a 25% withdrawal charge which may mean you get back less than you put in to the account.
We recommend you take advice on the suitability of this plan.
Help to Buy
There are many solutions to help first time buyers, from shared ownership to government equity loans, many lenders have even brought out their own versions, see our Jargon Buster page for more information.