First Time Buyer Mortgages
Rising house prices? Huge deposits? Rising Interest Rates? Affordability?
There are always obstacles to obtaining your first mortgage and buying your first home. The press would certainly have you believe obtaining your first mortgage is a near impossibility!
The truth is most banks have a first time buyer offering and they all differ depending on which bank or building society you are talking to. Whilst income and deposits play a part it is still very achievable for a first time buyer to get on the property ladder, the key as always is to have the right advice and see what options are open to you.
Government schemes such as HELP TO BUY 5% mortgage guarantee scheme can help you get on the ladder. There are also schemes such as share ownership.
Of course hesitation is not always about the money or cost. We understand that buying your first home can be a very daunting time with lots to consider not just the price of the house and how much deposit you need. This is why we will help you every step of the way, this may be speaking to the estate agent to help you put forward an offer, or guiding you towards a reputable solicitors. Get In touch today and let us being your home buying journey.
At Wyke Financial we see first time buyers as a core part of our client base and will give you the extra help and support you need to guide you through.
Explanation of the entire buying process
we will explain to you the process from start to finish with an indication of timescale and also the role of all parties, ourselves, the lender, the surveyor, the estate agent and the solicitor
Estimated Cost breakdown
Mortgage cost is a huge consideration but the other areas you need to factor in are solicitor fees, stamp duty, moving costs.
What to watch out for?
Depending on where and what you are buying we will use our experience to give you the heads up on any bumps that may appear in the road such as survey issues, contraction type, down valuations…
A MORTGAGE IS A LOAN SECURED AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED AGAINST IT.