Applying for your first mortgage and buying a house in London as a first-time buyer can get intimidating, but don’t you worry; we will guide you through the process in full detail. We have covered all the important mortgage advice for first-time buyers.
First-time Buyer Mortgage Advice
Our advice to first-time buyers is to make an appointment and meet us before viewing properties. This way, you will be better equipped with the know-how of:
- How much you can borrow
- The amount of deposit you will need
- Other fees that you may have to pay
- Different mortgage opinions
- Which insurances do you need
- How much the repayment will be
As we are not licensed mortgage advisors, we will first go through your profile and introduce you to our external mortgage advisory partners, who will design you the best plans that suit your profile. Following your meeting with the mortgage advisor, we will move ahead to arrange for a Decision in Principle (DIP) to be completed. This will show estate agents and vendors that you are capable of buying a property and that your mortgage application has been accepted.
As a first time buyer in London, having a DIP will also put you in a more solid position when negotiating the price for your first home.
Once you agree on the purchase price, our mortgage advisors will go ahead and complete the mortgage application, recommend a solicitor(if you do not have one) and move the purchase towards completion and assist you till the day you collect the keys for your new home.
If you wish to use the government’s Help to Buy scheme, our mortgage advisor can help you with that too. Our expert mortgage advisers have helped many first-time buyers in London understand the application process and meet the specialist criteria lenders look for.
Why Choose Us as a First Time Home Buyer Advisor London?
We work with independent mortgage advisors, meaning we can access the whole of the intermediary market and recommend lenders.
Our mortgage advisors have experience with mortgages, walking you through the full home buying process in depth and detail.
Locally, we will work hard and keep track of the progress with our mortgage advisor on your behalf to help you buy your first ever dream home.