Specialist mortgage articles to help you navigate the minefield of getting a mortgage to buy a home or to remortgage your existing home either a residential or a buy to let.

At SAM Conveyancing we give you all the information you need to know and write it in a way that makes it easy to understand. We also have a panel of mortgage brokers to help you find the best mortgage rate in the whole of the market and to complete the paperwork for your mortgage application.

Please click, read and enjoy. If you get stuck or need any help then call us and speak to a friendly member of the SAM Conveyancing team - 0333 344 3234 (local call charges).

First Time Buyer Mortgage Advice

29/05/2020

Get First Time Buyer Mortgage Advice from Independent Mortgage Brokers

Our first time buyer mortgage advisors can help you get the right mortgage for your first home purchase and are fully experienced in the Help to Buy and shared ownership schemes. The initial call is free. We're rated Excellent on Trustpilot. Book your free telephone consultation today.



best mortgage advisors for first time buyers
mortgage tips for first time buyers
Green Tick
first time mortgage tips
mortgage tips for first time buyers
First Time Buyer Specialist
Free Mortgage Consultation*
We handle the whole Mortgage Process
Bespoke Mortgage Rates**
Available 8am to 7pm

* Terms and Conditions apply
** Not available when applying direct with the mortgage lender

First time buyer mortgage advice is essential if you're looking to get the best possible mortgage for your first home purchase.

There are a bewildering number of mortgages on the market and the best mortgage advisors for first time buyers can ensure that find the best suited home loan for your needs and equally have the greatest chance of success in your application.


What are the different types for mortgages for first-time buyers?
There are a wide array of mortgages to support getting your foot on the housing ladder including some which bridge the gap between your deposit, the mortgage you can afford and the actual price of the property.

    1
    Help to Buy
Help to Buy is a Government scheme targeted at helping first time buyers and existing home owners buy a property by offering a loan to reduce the amount of deposit and mortgage you need. The scheme has successfully helped 214,064 first time buyers so far and is set to run until March 2023, however the end date has been extended before due to the popularity and need for an affordable housing scheme.

The property must be new build, cost no more than £600,000 and you need to pass the eligibility criteria. The Government loan (also known as an equity loan) is interest free for the first 5 years and can be up to 20% or 40% (if in London) of the total price of the property. With a minimum of a 5% deposit required, here is an example of how Help to Buy works:

Outside of London: £258,000 property in outside of London. Help to Buy Loan of 20% is £51,600, your mortgage is 75% at £193,500 and your deposit is the balancing 5% at £12,900.
London: £400,000 property in London. Help to Buy Loan of 40% is £160,000, your mortgage is 55% at £200,000 and your deposit is the balancing 5% at £20,000.



Why do you need first time buyer mortgage advice?

When you're looking to get your foot on the first rung of the property ladder, you'll be seeking any number of home buying tips for first time buyers. And most often you'll be buying using a mortgage, so you'll want first time mortgage tips from the best sources.

A first time buyer mortgage advisor can guide you towards the best mortgage, whether you're looking for a gifted deposit mortgage or a help to buy mortgage , from 1000s of mortgages on the market. Because our mortgage advisors are all independent, that means they can find mortgages from the whole of the market too and aren't tied to any particular lender or lenders.

Your initial telephone consultation with a first time buyer mortgage advisor is completely free with no obligation and an opportunity to pick up excellent first time mortgage tips in general.


Conveyancing Process
FREE Online Conveyancing Process for Buyers

Includes online checklists, videos, downloads and tips - plus it is completely free to use from start to finish and saves your progress along the way.


Proud of our Reviews
SAM Conveyancing Reviews
 
Free Appointment
Book a free mortgage consultation with our panel mortgage broker today and see what the best mortgage rates are for you.
Agree to Terms & Privacy
 
 
 
Frequently Asked Questions

What are the best mortgage tips for first time buyers?


First Time Buyer Mortgage Advice UK
    1
    Check your credit score
The first thing a lender normally consults when you apply for a first time buyer mortgage is your credit score.

You can find out what this is and normally get a full credit report for free online from companies such as Experian and TransUnion (formerly CallCredit).

You should check the report carefully and ensure there are no mistakes which lower your score. If the score is lower than expected, you might need to postpone your mortgage application.

    2
    Check your spending and bank statements
The mortgage application process is rigorous and involves drilling down into your spending habits. Ideally you should avoid using overdrafts - particularly unauthorised ones - and you should be living 'within your means'.


    3
    Consult a first time buyer mortgage advisor
The best first time buyer mortgage advice you can get comes from using specialist independent first time buyer mortgage advisors: they give you the best chance of your application meeting success.

Can you get first time buy to let advice?

If you're looking to get first time buy to let advice as a budding landlord, it's equally your best bet to consult a mortgage advisor. They can best guide you through potential pitfalls to get the best mortgage for you.

What is Martin Lewis first time buyer advice?

When it comes to first time mortgage advice, we're happy to say that Money Saving Expert's Martin Lewis also refers to the use of mortgage advisors and brokers as a positive step towards securing that all-important first mortgage alongside careful consideration of your affordability.

What is first time buyer stamp duty?

Use our first time buyer stamp duty calculator to find out how much stamp duty you're likely to pay given your circumstances.

Get First Time Buyer Mortgage Advice from Independent Mortgage Brokers

Our first time buyer mortgage advisors can help you get the right mortgage for your first home purchase and are fully experienced in the Help to Buy and shared ownership schemes. The initial call is free. We're rated Excellent on Trustpilot. Book your free telephone consultation today.



Related Articles
Buying a house for the first time - First time buyer guide
10/05/2020
Gifted Deposit Mortgage for First Time Buyers
06/09/2018