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First Time Buyer Mortgages

If this is your first time buying a property, the whole process can appear daunting, and it could be easy to be overwhelmed by the choice on offer. It can, therefore, be extremely beneficial to get first-time buyer mortgage advice from a professional who can assess your affordability and talk you through your options.

The definition of a first-time buyer isn’t as obvious as it might initially seem. As with many aspects of home buying, there are a few grey areas where first-time buyers are concerned, and the status of a first-time buyer can vary from lender to lender. What’s more, the government has its own ruling.

For example, if you’re buying your home as a couple, but one of you has previously purchased a property, or if you’ve owned commercial property in the past, you will not qualify as a first-time buyer.

There are plenty of rules and regulations when it comes to buying a home so, understandably, you might be confused about where to begin. If you get one mortgage offer from a mortgage provider, you might assume that this represents the kind of offer that you are likely to get from all lenders – but this isn’t necessarily the case.

Town & Country Mortgage Services offer a broker service that delivers expert advice and guidance during this daunting time – we have access to the vast mortgage market so you can be sure you’re getting the best deal.

What level of mortgage do you qualify for?

It can be extremely useful to receive first-time buyer mortgage advice from an expert in this field who can explain to you your status as a buyer and help you navigate this complex area.

Town & Country Mortgage Services has an online calculator which you can use to see how much lenders might be able to lend you, based on your salary. It can be a good idea to play around with this tool to see how much you can afford and how changes to your salary or deposit would affect your affordability.

You can also chat to a member of our team – Town & Country Mortgage Services are a reliable broker service that will be able to go into more depth based on your earnings and deposit to find you the best deal for your first home.

We can create, submit and manage your entire mortgage application for you too, so you don’t need to worry about chasing documents or wondering which stage of the process you’re at. We’ll keep you updated every step of the way for a hassle-free home buying experience.

How do Town & Country Mortgage Services work?

Town & Country Mortgage Services are an award-winning broker and FCA registered, so you can rest assured that your home buying experience will be in the hands of experienced professionals. We offer free advice for our mortgage and protection advice with a simple and convenient process to provide you with all the information you need as someone going through the home-buying process for the first time.

The first step in working with one of our brokers is to arrange a 30-minute telephone call to discuss your current circumstances and what you’re looking to buy. We’ll then run an affordability check with you to gauge your borrowing potential. This will help us in recommending potential mortgage lenders who you could work with. We’ll put together an Agreement in Principle which is an estimate that shows estate agents or vendors an indication of what you’re able to borrow.

With an Agreement in Principle in place, you can begin viewing properties within your budget and even make an offer if you find the right home for you. If your offer is agreed, Town & Country Mortgage Services can then begin making more specific recommendations on the right lenders and mortgage products for your needs, and take full responsibility for the management of your mortgage application going forward.

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