First Time Buyer 

 

Firstly, it can be extremely daunting. I remember what it was like and this is one of the main reasons I became an adviser. However, do not worry I am here to help you through the whole process.

Ultimately, you will just want to know how much you can borrow, what deposit you need and what is it going to cost each month, so that is where I start.

 

You will require at least a 5% deposit of the overall cost of the property you wish to purchase, this can be gifted by a relative.

What you can borrow and what it costs each month will depend on your individual circumstances.  

 

I offer a no obligation complimentary initial consultation with you at a day/time that is convenient e.g. evening or weekend. The first chat is just to find out an idea of your income and monthly commitments, from this I can give you an idea of what you can borrow, how much it will cost and will also be able to answer any questions that you have.

 

This provides you with a great starting point of your new home budget. I will then be able to guide you through the rest of the process to ensure a smooth and hassle free experience.

I can provide a Decision in Principle (DIP)/Agreement in Principle (AIP) however, you may not need this to make an offer on a property.

 

Application to completion takes around 8 -12 weeks.

 

I deal with your Estate Agent, Solicitor and Accountant to help ensure a smooth process.

 

The deposit is only needed at exchange of contracts not when you apply for the mortgage. Although, you may need to provide proof at the application stage. 

At exchange of contracts the lender will require you to have buildings insurance in place, as at this point you legally own and are responsible for the property.

 

Top tip

 

Take a note pad when viewing properties to write down the pros and cons of each property, the reason is they all merge into one when you have viewed a few in one day!