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 Chelmsford
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 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. Its 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 advisors are 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 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.
Introducing A Little Mortgage Advice
Mortgages. They’re daunting at the best of times, but even more so for first time buyers. Fortunately, we are here to help you every step of the way. We are A Little Mortgage Advice, a leading first time buyer mortgage advisor in Chelmsford. If you’re looking to take your first steps on to the property ladder but don’t know where to begin, you have come to the right place.
What is a First Time Buyer Mortgage?
First-time buyer mortgages, as the name suggests, are just for those who are purchasing their first home. They often come with added incentives such as lower interest rates and smaller deposits to help ease the financial burden of buying your first property. To qualify, it goes without saying that you have to have never owned property before. Our mortgage advice for first time buyers in Chelmsford is invaluable if you want to choose the best deal for you.
What Types of First Time Buyer Mortgages in
Chelmsford Are There?
There are many kinds of first time buyer mortgages out there, but to make things simpler we’ll just focus on fixed and variable rate ones. Here’s some more information on them and how they differ:
Fixed-Rate Mortgage
If you opt for a fixed-rate mortgage, your interest rate will stay the same for a set period. This is most commonly between two and five years. As your monthly payments will stay the same, you may find it easier to budget. After that fixed term ends, you’ll usually move to the lender’s standard variable rate (SVR).
Variable-Rate Mortgage
A variable rate mortgage means that your interest rate can change over time. There are different types of variable rate mortgages out there, with the three main kinds being:
- Standard variable rate mortgages: This is the basic interest rate your lender uses, and will vary depending on who your lender is
- Discounted variable rate: These rates are a percentage discount of your lender’s society’s standard variable rate for a set period of time.
- Tracker mortgages: These track the Bank of England base rate. So, if the base rate rises, so will your mortgage payments, and vice versa.
Our Advice for a First Time Buyer in Chelmsford
Some things are out of your hands when trying to get approved for a mortgage, but there are a few things you can do to maximise your chances of securing the best mortgage for you:
- Save more for a larger deposit
- Understand the total costs of buying a home and budget accordingly
- Check your credit score and correct any inaccuracies
- Get a mortgage agreement in principle
Why Buyers Use a Mortgage Advisor for First Time
Buyers in Chelmsford
When you choose A Little Mortgage Advice, you can benefit from access to every lender in the UK. We will do all the comparisons for you, so you can be sure you are applying to lenders who are suited to you. We get to know every one of our clients and will provide expert advice and support at every stage of the process.
Talk to Us Today
If you want to find out more about us and how we can help you, please get in touch today. Remember, if we can’t find you a mortgage, you do not have to pay us a penny! That sounds like a great deal to us.
FAQs
What can have a negative impact on my credit
score?
When you apply for a mortgage, you’ll notice that your credit score comes under a lot of scrutiny. While there are options for those with bad credit, it makes sense to try and avoid things that will have a negative impact on your credit score. These include:
- Frequently setting up new bank accounts
- Maxing out your credit card or using your entire overdraft
- Applying for credit too often.
- Missing payments
- Borrowing more than you can afford
Remember, having little to no credit history can also work against you when applying for a mortgage, as lenders will have no proof that you are a responsible borrower. So, make sure to build a solid credit history if that applies to you!
What information do I have to give you?
We will ask you for a lot of information, and this isn’t us just being nosy! The more detailed a picture we can build of your financial situation, the higher the chances of us finding the right mortgage for you. So, give us as much detail as you can about your income and your monthly outgoings. This includes household bills, loans, and credit card payments.
We will also need to know how much you have managed to save for a deposit, along with your credit history and any debts that you are in the process of paying off. We’re not here to judge, so you can be totally transparent with us.
Should I work with a mortgage broker or go it
alone?
It can be tempting to keep costs to a minimum and go everything yourself. After all, buying a home for the first time is the biggest purchase you will have made in your life so far, and there are lots of costs that come with it.
However, it can really pay off to use our services. You have a much higher chance of getting approved when you choose us, and you will be matched with a lender who is able to work with your circumstances. Plus, if we aren’t successful you don’t have to pay us a thing!