Mortgages for First Time Buyers

Mortgages tailored for individuals entering the housing market for the first time are known as first-time buyer mortgages. Certain firms may provide enticements, like cashback offers, to encourage you to choose their mortgage products. In addition, they might extend mortgages by 95% or 100%.

First Time Buyer

Here are some top tips for first-time buyers:

Calculate what you can genuinely afford, including furnishings and potential renovations, in addition to the purchase price, conveyancing fees, and stamp duty. Be sure to create a budget.

If you’re used to living with your parents, account for new costs like utility bills, council tax, boiler servicing, and maintenance.

Even if you don’t have kids, homes in the catchment area of good schools are more accessible to sell. However, this can also affect the purchase price.

List the local amenities that matter to you, such as shops, restaurants, sports centres, parks, and entertainment venues. Explore the neighbourhood to locate these critical facilities.

Ensure your new location offers reliable broadband or high-speed internet, especially if you’re an avid internet user.

If you have access to the postcode of your potential new property, use it to check websites like JustEat and Deliveroo to see what options you have for when don’t want to cook!