Mortgages For First Time Buyers
Buying your first home can be one of the most exciting things you’ll ever do – but it can be daunting and confusing too!
At The Financial Guys we have experienced experts who specialise in helping first time buyers secure their first home, helping you at every stage of the buying process – we’ll even help you decide what you should offer on a property, using our local knowledge!
Our team can help you pick the ideal mortgage product for your circumstances depending on what is important to you – such as a lower deposit, keeping fees low or the option to overpay.
How Can We Help?
Expert Guidance
Our team of mortgage experts understands the complexities of first time buyer mortgages – making sure we help you get the most suitable product to meet your financial goals.
Extensive Panel of Lenders
We’re not tied to any particular lender, so we’re only interested in getting you the most suitable product for your circumstances – not sales targets!
Modern & Streamlined Process
We know you’re busy so our process makes securing a mortgage as quick and easy as possible, using the latest technology and evening/weekend appointments to suit you.
What Do People Say About Us?
The Financial Guys Process
First time Buyer mortgages can be an effective way to get onto the property ladder. However, it’s essential to understand the specific requirements, benefits, and risks associated with first time buyer mortgages. With the right preparation and guidance, the process can be smooth and efficient. We put the essential steps in place for you to obtain a first time buyer mortgage, tailored to your specific needs.
Initial Chat
We’ll book you in for a completely free, no obligation chat with our mortgage team to allow us to quickly assess what options might be available to you and to answer any questions you have.
Decision In Principle
After the intial chat, we’ll ask for the information and documentation we require to get you a decision in principle – this will give us an indication of how much a mortgage provider is willing to lend you for your rental property.
Find A Property
This is the fun part where you go and find a property that fits your budget. With our expert knowledge of the local area, we can help make sure that you don’t pay too much for a property and that you one you pick will help you achieve your financial goals.
Full Application
Once you’ve chosen the property and had an offer accepted, we get the ball rolling with a full application – and you’ll have the keys in your hand before you know it! We’re there every step of the way, to keep you fully up to date with the process and answering any questions you have on the way.
We Hold Your Hand Every Step Of The Way
Navigating the home-buying process can be daunting, but with our comprehensive financial service, you’re never alone. We hold your hand every step of the way, providing expert guidance and support until you get your keys.
Start Today – Book A No Obligation Chat
Our 15 minute initial chat allows us to assess the best way to help you and to answer any questions you have about buy to let mortgages.
About Us
At The Financial Guys, our mission is to help you achieve financial security and peace of mind. We understand that every client’s financial situation is different, and we pride ourselves on offering personalised advice that aligns with your individual goals and circumstances.
As a family-run business, we infuse our family values into every decision we make. This approach ensures that our clients remain at the heart of everything we do, enabling us to consistently deliver outstanding customer experience. Together, we strive to achieve the best possible outcomes for each and every one of our clients. In essence, we’re one big family working together to support and uplift our clients.
Disclaimer
Frequently Asked Questions
What are the benefits of being a first-time homebuyer?
- Lower Deposit: Many programs offer down payment requirements as low as 2%.
- Educational Resources: We offer a road map, no matter where you are in your journey, we’re there to support you each step of the way.
How can I improve my chances of getting approved for a mortgage?
- Improve Your Credit Score: Pay down debts, make timely payments, and avoid new credit inquiries.
- Save for a Down Payment: The larger your down payment, the more favorable your loan terms may be.
- Get Pre-Approved: A pre-approval letter shows sellers you are a serious buyer and know how much you can afford.
- Reduce Debt: Lowering your debt-to-income ratio can make you a more attractive borrower.
- Stable Employment: Having a steady job and income helps demonstrate your ability to repay the loan.
Are there any grants or assistance programs for first-time homebuyers?
Yes, there are various programs that offer grants and assistance for first-time homebuyers. These can include down payment assistance, closing cost assistance, and favorable loan terms.
Should I get a fixed-rate, discounted or variable rate mortgage?
- Fixed-Rate Mortgage: The interest rate remains the same for the life of the loan, providing predictable monthly payments. Ideal for buyers planning to stay in their home for a long time.
- Discounted:
- Variable Mortgage: The interest rate can change periodically, typically offering lower initial rates.
We will advise on the best route for your personal circumstances.
I have debts, will I still get a mortgage?
Potentially, yes. If you have debt but can afford to keep up the repayments and aren’t in financial hardship, lenders will grant mortgages after affordability checks
What are the interest rates for first time buyers
First-time buyers interest rates can vary based on the lender, the type of mortgage, and the borrower’s credit profile. As of mid-2024, typical rates for first-time buyers range from 4% to 6% for fixed-rate mortgages, but it’s essential to check with individual lenders for the most current rates.
The Financial Guys is a trading name of Platinum Financial Limited which is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.
The Financial Conduct Authority does not regulate some forms of Buy to Let. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Contact
- 0333 012 4574
- hello@thefinancialguys.co.uk
Opening Hours
Evening and weekend appointments available.
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Registered Address: 30 Benton Road, High Heaton, Newcastle upon Tyne, NE7 7DU