First time buyer mortgages - Mortgage Sorted

FIRST TIME
BUYER
MORTGAGES

First Time Buyer? We’ll help you get your mortgage sorted. We’re specialist mortgage advisors to make sure you don’t miss out on mortgage savings.

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Here’s everything you need to know about getting a first-time buyer . Get in touch if there’s something specific you’d like to ask. you can get in touch by getting started or submitting a question to an expert mortgage advisor.

Understand your budget with a Decision in Principle

A decision in principle is also called an “agreement” or “mortgage” in principle. They all refer to the same thing which is an initial yes from a mortgage lender. This is here to give you an idea of what you can expect to borrow. This will help you can understand your budget for buying your first home. This is the best place to start as a first-time buyer.

A decision in principle will also allow you to see what mortgage rates you are eligible for. This helps you can understand your potential mortgage monthly repayments. This will help you understand your finances for any home you buy.

Many estate agents will ask to see a decision in principle if you would like to place an offer on a property. This acts as a way of showing the agent you can likely afford to purchase the property and that you are a serious buyer. Remember, you can use any mortgage advisor you like, even if they suggest otherwise.

Need a Decision in Principle?

We’re here to help get you started on your first-time buyer mortgage journey

Homebuying, simplified

A quick overview to help you understand the process of buying your first home.

1 Decision in Principle

A decision in principle is your starting point. This helps you understand your budget for buying your home.

2 Make an offer

Once you have your budget set, you can then make an offer once you find the right home.

3 Legal work

Once your offer is accepted we can submit your mortgage application and instruct your solicitors to begin the legal work.

How much deposit will I need?

This will depend on several things such as:

Your credit history
Your income
The property you are looking at buying

We’re here to help you understand exactly how much deposit you can expect to need. This can help you budget with clarity for your first home. This can help understand how much you can keep back for furniture etc.

Minimal Advice Fees

We believe in minimal advice fees to help you save on your mortgage. There may be a fee for arranging a mortgage however, the precise amount will depend upon your circumstances and this will not exceed £195. The fee may be waived subject to the terms of the fee waiver agreement and will be confirmed within the initial meeting.

Do I need solicitors to buy my first home?

You’ll need solicitors to help complete the legal work of the home-buying process. We are on hand to help to recommend solicitors that we have worked with and delivered to a high standard.

Do I need a survey?

A survey is a really good idea when buying your first home. Your home is likely to be one of the largest purchases in life. A survey allows you to understand what you are buying, in more detail. It’s easy to confuse the mortgage valuation for a survey. The mortgage valuation is only for the mortgage lender’s purposes. A survey, is specifically for you, the buyer.

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