First Time Buyer Mortgages
Take the first step on the property ladder with us.
Buying a home is one of the most important purchases you will make and buying for the first time will be an even more daunting prospect. Add to this the vast array of mortgage products available and you could be left with a stressful and confusing decision.
Kerr & Watson have access to the whole market so can help you with making the right mortgage decision.
Am I a first time buyer?
Most lenders consider a first time buyer to be a person who has not previously owned a UK property. However, some lenders consider a first time buyer to be a person who has not had a mortgage for a certain period of time, e.g. 3 years.
How much deposit do I need as a first time buyer?
Generally, on a standard residential mortgage a first time buyer will need a minimum of 5% of the purchase price as a deposit. Having a larger deposit will usually result in a more competitive interest rate and achieve larger income multiples.
As a First Time Buyer, would I get a better product?
It’s not uncommon for a lender to offer incentives on certain First Time Buyer products. These may be by way of a lower interest rate or cashback on completion. Lenders regularly change their products so the most suitable one for you will be recommended by your adviser.
Mortgage Calculator
Calculate your borrowing potential with our affordability calculator.
Identify what your monthly repayments would be with our repayment calculator.
Confirm your Stamp Duty costs with our Stamp Duty calculator.
Your Mortgage In 3 Easy Steps…
Conversation
Schedule a call to talk to a mortgage advisor about your goals, challenges and vision for your mortgage.
Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.
Research
We will take the information gained on the call and carry out some research before sending you a bespoke recommendation.
If you would like an agreement in principle, we’ll also arrange this for you.
Application
We will submit the full application to the mortgage lender, sending them the documents and liaising with the underwriters until the mortgage has been fully offered on the new interest rate.
We will also communicate with you at every stage, from application to completion.
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