Experts In First Time Buyer Mortgages
We understand that first time buyers need a little bit extra hand holding throughout the mortgage process so that’s exactly what we will do for you.
First Time Buyer Mortgages in London
Are you a first time buyer looking for a mortgage?
For a broader overview of how we support first-time buyers and to explore all available options, visit our first time buyer mortgages page.
Our first time buyer mortgage advisor is here to help.
01268 387898
Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it
First Time Buyers
Whether you have a 5% or 20% deposit we can help you find the right mortgage. As a first time buyer it can be daunting to know who to turn to. Our advisor will take into account your personal circumstances and search the market to find the right mortgage product.
We can answer any questions you may have and we will take care of the whole process from start to finish.
If you have bad credit we have lenders who have specific eligibility criteria which may suit your circumstances.
How We Can Help
As a specialist independent mortgage advisor we work with lenders from across the whole market, including those who specialise in offering mortgages to first time buyers or those with low deposits.
Buying a home is stressful, especially if you are a first time buyer, dealing with lawyers, arranging the move, and of course finding a mortgage. A Little Mortgage Advice are here to reduce that stress and help you find the perfect mortgage for your first home.
We will hold your hand throughout the whole process
Our Great Customer Reviews
Why Choose A Little Mortgage Advice?
Specialist Advisor
We’re a specialist independent mortgage broker with access to all U.K. mortgage lenders, meaning that we search the whole of the market to find you the best mortgage product to suit your individual circumstances. A Little Mortgage Advice Brokers really do go that extra mile for our customers.
Personalised Service
As a small, independent mortgage advice brokerage, you will have a dedicated mortgage advisor who will stay with you throughout the mortgage process. We dedicate the same amount of time to each customer, never leaving you waiting, responding quickly and answering all of your questions so you feel comfortable and confident that you are in safe hands.
Five-Star Reviews
Every customer interaction, email, and phone call is important to us. We pride ourselves on offering a five-star service at all times, our reviews speak volumes and so do the awards that we have won for outstanding service.
No Obligation Quote
We offer a free no-obligation quote and helpful advice throughout the process. So, finding out if we’re the right fit for you won’t cost you a penny. It’s as easy as picking up the phone and giving us a call, you have nothing to lose and a lot to gain because our mortgage adviser is qualified and experienced.
Get Your Credit Report
Obtaining a credit report to help give you the best chance of getting the right mortgage. At A Little Mortgage Advice, we recommend checkmyfile because of their reliability and accuracy of reporting.
Click the link below to start your 7 day no obligation free trial.
*A Little Mortgage Advice receives a small fee from checkmyfile. Monthly fee of £14.99 applies after your free 7-day trial. You may cancel at any time without charge by Freephone, Secure Message, email or online. The free 7-day trial applies only to new customers aged 18 years or more who are living in the UK. The 7-day free trial period starts when you register.
What Are First Time Buyer Mortgages in London?
As the name suggests, first time buyer mortgages are designed for individuals purchasing their first home. You may see perks such as lower deposit requirements and favourable interest rates on these kinds of mortgage products. To qualify as a first-time buyer, you’ll need to have not owned property before. There are a wide range of options out there, which we will cover next.
Essential Mortgage Advice for a First Time Home
Buyer in London
Securing a mortgage does mean jumping through hoops and meeting certain criteria, but you can make the process a lot easier for both you and the lender if you do the following before you apply:
- Set out your maximum budget
- Check your credit score
- Improve your credit as much as possible
- Save as big a deposit as you can
- Get an agreement in principle
What Kinds of First-Time Buyer Mortgages Are
There?
There are lots of different first time buyer mortgages out there, and the choice can feel overwhelming. Usually, they fall into one of two categories, which are:
Fixed-Rate Mortgage
A fixed-rate mortgage locks in your interest rate for an agreed period, which is most commonly between two and five years. This means that your monthly repayments will remain the same, which can make it easier to budget and keeps any surprise rises at bay.
Variable-Rate Mortgage
If you choose a variable-rate mortgage, your interest rate will be dictated by changes to the Bank of England’s base rate. This means your monthly repayments can rise or fall, but these types of mortgages often begin with lower starting rates. The most common kinds of tracker mortgages are standard variable rate mortgages, discounted variable rate mortgages, and tracker variable rate mortgages.
FAQs
How do I improve my credit score quickly?
Having bad credit isn’t ideal when you are looking for a mortgage, as it can limit your options somewhat. That’s why improving your credit score as much as you can is a great idea. It’s important to remember that building good credit – especially if you are looking to make a significant improvement – takes time. It then requires care to maintain it.
Here are some of the most effective ways to improve your credit score:
Pay off existing debts
Spend sensibly
Make sure you’re on the electoral roll
Check for inaccuracies
Don’t move home too regularly
What is a mortgage broker and how much do they charge?
We’re often asked what it is that we exactly do – so let us explain. We are here to act as an intermediary between you and any potential lenders. We will help you to find mortgage products suited to your specific financial situation and assist you at every stage of the application process.
In terms of cost, our rates are some of the most competitive offered by a mortgage advisor for first time buyers in London. Most impressively, we guarantee that if we are unable to find you a mortgage, you will not have to pay us a penny. Yes, you heard that right!
What type of first time buyer mortgage is right for me?
More and more people are struggling with bad credit, and it can feel like an impossible hole to dig yourself out of. Your This is an entirely personal choice, but one that we are here to give you all the necessary information to make. Those who value certainty may be more suited to a fixed-rate mortgage, as they will know exactly how much they will have to pay every month. If you are willing to be more flexible and would like to pay less each month if interest rates allow, a variable-rate mortgage would be a good choice.
We’ll closely analyse your financial situation, and then take a look at the current financial landscape too. We’ll then point you in the direction of mortgages that are a good fit for you – but the final choice is always yours!