First Time Buyer Mortgages | Leicester
As a first time buyer, arranging a mortgage can seem like a huge task. You will have a million and one questions about interest rates, deposits and terms to name a few. At Mortgages by Anna, based in Leicester, Anna will be on hand to answer all of your questions and personally guide you through the process from start to finish.
Last Updated: 20th July 2023
Understanding First-Time Buyer Mortgages
Becoming a homeowner is an exciting milestone, and as a first-time buyer, understanding the intricacies of mortgages is essential to making informed decisions. First-time buyer mortgages are tailored specifically for individuals who are stepping into the property market for the first time. These mortgages aim to assist aspiring homeowners in overcoming the initial hurdle of property ownership and turning their dreams of having a place to call their own into a reality.
How much deposit do you need for your first mortgage?
In the current market, a first time buyer has plenty of options available, especially when it comes to deposits. You may be able to obtain a 5% deposit mortgage, 10% or even 15% depending on your circumstances. As a ‘whole of market’ broker, Anna has the ability to provide unrestricted advice to source the best route to buy your first home.
When should you first see a broker when buying your first home?
If you’re already browsing Rightmove and saving properties, now is the perfect time to arrange a meeting with Anna. After your initial meeting, you will have a better understanding of your affordability and possibly come away with an agreement in principle.
What’s an agreement in principle?
An agreement in principle (AIP) is an indication from a particular lender that they are happy to lend a specific amount based on a basic income and expenditure calculation. We must stress that most lenders won’t credit check at the AIP stage and therefore it is not a guarantee that the lender will accept your mortgage application.
What is the process of a first time buyer mortgage?
It’s simple, just get in touch and arrange an initial consultation with Anna. This can be a phone call or a video call at a convenient time for all. This initial chat will allow Anna to find out as much as possible with regards to your current situation and your search for your first home. After the initial chat, Anna will put together a plan of action for you to proceed.
Anna prides herself on saving you time and money. You won’t have to wait weeks to arrange an appointment and you will have direct contact with a broker you can trust. If you’re looking for a mortgage broker who takes personal responsibility for the advice they provide and always acts with your best interests at the forefront of all they do, then look no further.
Let’s get started. Simply get in touch with Anna on 0116 3262610 or send an enquiry using the form below.
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