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 Essex
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.
Why Buyers Choose A Little Mortgage Advice
Purchasing your first home? It’s natural to be a little anxious about the process – but that’s where our expert mortgage advice for first time buyers in Essex comes in! We have years of experience when it comes to helping buyers just like you, and we’re here to help you through every stage. By working with us, you can make your dream of securing a mortgage that is perfect for you.
About First Time Buyer Mortgages in Essex
First time buyer mortgages have been put together with the needs of those getting on the property ladder for the first time. Lenders often provide special deals and incentives such as lower deposit requirements and favourable interest rates to help first time buyers make their first home purchase. We’re a leading first time buyer mortgage advisor in Essex, and we will be able to talk you through all of the options available to you.
What Types of First Time Buyer Mortgages Are There?
Fixed-Rate Mortgages
A fixed-rate mortgage ensures that your interest rate remains constant throughout a set period of time. This is most commonly 2,3, or 5 years, but some may go up to 10. This stable rate allows you to plan your finances in advance with ease. However, fixed-rate deals can sometimes be slightly higher than variable rates, and you could be subjected to early repayment charges if you decide to switch deals before the end of your term.
Variable-Rate Mortgages
Variable-rate mortgages have interest rates that can change. There are several types of variable-rate mortgages, including tracker mortgages which follow the Bank of England’s base rate plus a set percentage. As this base rate rises or falls, so will your interest rate.
Discount mortgages, on the other hand, offer a discount off the lender’s SVR for 2-5 years on average. The actual rate you pay may change, but it will start lower than the SVR.
Last but not least are capped rate mortgages: These have a variable rate but with an upper limit on how high the rate can go. This cap, which gives the mortgage its name, gives you some protection against big increases.
What a Mortgage Advisor for First Time Buyers in Essex Recommends
If you are looking to secure a favourable mortgage in Essex, you should begin by taking a close look at your finances and cutting any unnecessary expenditure. It’s also time to try and put together as much of a deposit as you can – with some first time buyers obtaining a cash gift from a loved one to help them on their way. Last of all, be sure to check your credit score and make payments on time.
Advice for a First Time Home Buyer in Essex
Navigating the mortgage market can be daunting, especially for first time buyers. That’s where we come in! We have access to all UK lenders, and after getting to know you will be able to point you in the right direction and help you through the process. So why not get in touch today?
FAQs
How can working with a mortgage broker improve my chances of getting approved?
Brokers have access to a wide range of lenders, which increases your options. We understand the specific criteria of each lender and can match you with the one most likely to approve your application. We will also guide you through the entire process, ensuring that your application is complete and accurate. This reduces the chances of being rejected due to errors or missing information.
Our team can also negotiate better terms on your behalf and advise on how to present your financial situation in the best possible light, both of which can improve your approval odds.
What can I do to improve my credit score?
Improving your credit score is crucial when applying for a mortgage. Start by checking your credit report for any errors or outdated information, and make sure these are corrected. Paying your bills on time is one of the most effective ways to boost your score. If you have outstanding debts, focus on reducing them, particularly credit card balances. It’s also wise to avoid applying for new credit in the months leading up to your mortgage application, as this can lower your score.
We can help assess your credit report and offer advice on how to improve it. We also specialise in bad credit mortgages for first time buyers.
Why is it important to save up enough for a deposit?
A larger deposit reduces the amount you need to borrow, which can lead to more favourable mortgage terms such as lower interest rates. It also shows lenders that you are financially responsible and capable of saving, which makes you much more attractive as a borrower.
Additionally, having a larger deposit can give you access to a wider range of mortgages, some of which may only be available to those with higher deposits. This can improve your chances of getting approved and save you money in the long run. Remember, every little bit you can save helps!