First Time Buyer Mortgage Experts
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
Are you a first time buyer looking for a mortgage?
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. We work with a network of lenders and search the whole of the market to find you a mortgage product to suit your individual circumstances.
Personalised Service
As a small, independent company, you’ll be speaking directly to a mortgage advisor. We dedicate the same amount of time to each customer, so you can be sure that you’ll be 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.
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 a penny.
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 30 day no obligation free trial.
*A Little Mortgage Advice receives a small fee from checkmyfile. Monthly fee of £14.99 applies after your free 30-day trial. You may cancel at any time without charge by Freephone, Secure Message, email or online. The free 30-day trial applies only to new customers aged 18 years or more who are living in the UK. The 30-day free trial period starts when you register.
Essex’s First Time Buyer Mortgage Specialists
WE DON’T JUST COVER ESSEX, WE COVER THE WHOLE OF THE UK MORTGAGE MARKET, WE STARTED OUT IN ESSEX AND OUR OFFICES ARE BASED IN ESSEX SO HAVE GREAT LOCAL KNOWLEDGE AND CONNECTIONS TO SHARE WITH YOU.
Welcome to A Little Mortgage Advice
Purchasing your first home is a significant milestone and we are here to simplify the process and help you navigate the complexities of first time buyer mortgages. Our expert support and advice for a first time home buyer will help you make informed decisions on your journey to homeownership. So, let’s get started.
What is a First Time Buyer Mortgage?
A first time buyer mortgage, as the name suggests, is for individuals who are purchasing their first property. Lenders often provide special deals and incentives to first time buyers to help them get on the property ladder. These may include lower deposit requirements and favourable interest rates. As a leading first time buyer mortgage advisor, we’re here to break down the choices available to you and guide you towards the mortgage that is most suitable for your needs.
Types of First Time Buyer Mortgages
Fixed-Rate Mortgages
A fixed-rate mortgage ensures that your interest rate remains constant throughout a set period – typically 2, 3, 5, or even 10 years. This stability allows you to plan your finances without worrying about fluctuations in monthly payments. However, fixed-rate deals can sometimes be slightly higher than variable rates, and early repayment charges may apply if you decide to switch deals before the term ends.
Variable-Rate Mortgages
Variable-rate mortgages have interest rates that can change over time, influenced by the Bank of England’s base rate or the lender’s own standard variable rate (SVR). Types of variable-rate mortgages include:
- Tracker Mortgages: These follow the Bank of England’s base rate, plus a set percentage. If the base rate rises or falls, so will your mortgage rate.
- Discount Mortgages: These offer a discount off the lender’s SVR for a certain period, typically 2 to 5 years. The actual rate you pay can still change, but it starts lower than the SVR.
- Capped Rate Mortgages: These have a variable rate but with an upper limit (cap) on how high the rate can go, providing some protection against significant increases.
Mortgage Advice for First Time Buyers
For those looking for a first time buyer mortgage, we advise them to focus on the following:
- Assessing your finances and cutting expenses where you can
- Saving for as large a deposit as possible
- Checking your credit score and making payments on time
Seeking Professional Advice
Navigating the mortgage market can be daunting, especially for first time buyers. This is where A Little Mortgage Advice can make a difference. As an experienced mortgage advisor for first time buyers, we can help you understand the various mortgage options, find the best deals, and guide you through the entire application process. We offer personalised advice tailored to your specific circumstances, ensuring that you make informed decisions every step of the way.
Talk to Us
Entering the property market as a first time buyer can be daunting, but we’re here to help you! Get in touch with us today, and we’ll help to get your journey to buying a home started.
FAQs
What will your first time buyer mortgage advisor ask you?
We will ask you for your credit report so we can assess your credit history. Don’t worry if you don’t have very much history, as lenders are aware that most people buying their first home will not have a long financial history. We will also talk to you about the following:
- What you do for work and how long you have been in your role
- How much deposit do you have, and whether this is savings or cash a loved one has gifted you
- Your address history over the past three years
- If you have any outstanding debt
- Whether you have children
- If you are hoping to purchase a flat or a house
What additional costs might I need to pay?
There are a number of costs that you might need to factor into your budget. These include:
- Solicitors Costs
- Stamp Duty
- Valuation Fees
We will provide a full breakdown of any extra costs, so you know exactly what you are being charged. When it comes to what you pay us, we price our services based on your credit history. Our initial advice is always free, we will let you know what fee is going to be payable once we assess your credit file. Remember, we cannot find you a mortgage, you won’t have to pay us a penny!
What if I am a first time buyer with bad credit?
It is still possible to get a mortgage as a first time buyer with bad credit, but you might need a larger deposit. When we assess your credit report, we will be able to tell you if you have any bad credit recorded against you and talk you through our findings. This is a great opportunity for you to check that everything looks correct and amend any discrepancies.
Here at A Little Mortgage Advice, we have a whole team of bad credit mortgage brokers that are experts in getting mortgages for first time buyers with bad credit. So, you have come to the right place!