If you’re buying a house for the first time, you might be wondering whether you need to use a mortgage broker. Or simply go it alone. To help you make your decision, we have produced our latest article – 6 reasons to use a mortgage broker as a First Time Buyer. We understand that placing that first foot on the property ladder can be difficult. But, Your Mortgage Expert is there to help you every step along the way with your First Time Buyer Mortgage. If after reading our guide you would like to chat, we are here to help you.
1. A mortgage broker should save you money
A broker like Your Mortgage Expert has access to thousands of mortgage products from multiple lenders to recommend the most appropriate deal for you. Some of the deals may not be available directly to you on the market. We will work out which deal will save you money based on your circumstances. We will do all the sums and break down all the figures for you.
2. A mortgage broker will put you in control
As a First Time Buyer it’s vital you understand the whole process so you can make decisions and be in control. We will take the time to break down all the information for you and demystify and jargon. We will explain the different type of mortgages available from fixed rate to tracker. We will help to ensure you have all the information you need to put you in control.
3. A mortgage broker will save you time
We will look at all the deals available to you meaning you won’t have to trawl the internet or ring a variety of lenders. We will also complete paperwork for you, liaise between Estate Agents and Conveyancers. We will work hard for you to ensure you save time and stress.
4. A mortgage broker understands lender criteria
A good mortgage broker deals with different lenders on a day to day basis. We understand which lenders are more likely to accept applicants like you. And, what information they need to see in order to improve your chances of your application being accepted. We also know when lenders increase rates and decrease rates. We will change deals for you if a more appropriate deal comes available.
5. A mortgage broker understands Government schemes to help with affordability
The Help to Buy scheme has now ended. But there are other schemes available that can help you to buy a house. These include the Mortgage Guarantee Scheme, Deposit Unlock, the Shared Ownership scheme and the Forces Help to Buy Scheme. We understand how these schemes work and can help see whether you would be eligible and whether they will save you money.
6. A mortgage broker is by your side until completion
A good mortgage broker will liaise between you and the lender, the estate agent and the solicitor. We can help push the process along and to make everything much smoother. We will be your side to help with any questions until completion and beyond.
We hope our top 6 reasons to use a Mortgage Broker as a First Time Buyer have helped. If you need any further advice, we would love to chat. Not only do we have access to the current deals on the market, some of which are not available to First Time Buyers directly. We also have extensive knowledge of all the current Government schemes designed to give you a helping hand.
Interested in Shared Ownership? We can help. Only have a small deposit? We can advise you on that as well.
By speaking to Your Mortgage Expert, you’ll get access to expert first time buyer mortgage advice. We can help you work out how much you can afford to borrow, what your repayments would be and what type of mortgage is most suitable for your personal circumstances. And, if you need it, we can break down all the jargon so you understand whether to opt for a tracker mortgage, fixed rate mortgage or something more flexible.
We aren’t like other brokers. Our small, friendly team has over 80 years of experience in the mortgage and protection industry.
To speak to a member of the mortgage advice team about your First Time Buyer mortgage ring Your Mortgage Expert now on 01722 322683. Or complete a contact form using the link below.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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“This was knight in shining armour stuff. Our conscientious mortgage broker was a delight to deal with from the off and the key to our dream home.”
Max and Martha, First Time Buyer customers from Cardiff
“Being in the Armed Forces I am away a lot, meaning it can be hard to attend meetings, answer emails and especially hard to fill in forms. Adam and his team were extremely helpful and understanding of our situation and provided help wherever they could. After our initial meeting where we provided our required details, we actually did very little of the hard work, apart from signing a couple of papers.”
Callum and Verena, First Time Buyer Armed Forces Mortgage Customer from Salisbury
“I expect my circumstances were fairly rare, but the help and guidance I received from you was invaluable. I feel that the personal touch you provide offers something that appeals to the soldier in me. During my service I always liked to have a point of contact, someone who was the “go to” specialist in their field. This provides a degree of assurance about a situation and it was refreshing to find that same degree of certainty transitioning to civilian life, particularly with something as important as a mortgage and buying our family home.”
Andrew and Helen, Armed Forces Mortgage Customers from Salisbury
“Even though we were used to having a mortgage on the rental property, paying a mortgage on your own home was still a bit of a shock after years of having married quarter rental deducted from your pay at source. But, at every step along the way, we felt reassured, understood and that we really mattered to Adam. Trust is an important concept for military families and we trusted Adam.”
Fiona and Graham, Armed Forces Mortgage Customers from Wilton
“As a contractor, it was difficult for me to obtain a mortgage through normal channels so it was great to find a mortgage adviser that specialised in contractor remortgages and understood the challenges. In addition, I had fairly tight timescales, so wanted someone who could make the process quick and hassle free.”
Andrea, Contractor Mortgage Customer from Warminster
“I am a contractor, therefore require specialist mortgage advice. Adam has now concluded two mortgages for us (new mortgage then a contractor remortgage), and is currently arranging a buy-to-let mortgage for us. He also arranged our life insurance for us. We keep returning to him for some great reasons – he is always available, and ready to help. He provides great advice, and always ensures that he meets our requirements exactly. He is prepared to explain things in such a way that even a lummox like me can understand, and his level of service has remained consistently good over the last three years.”
Matt, Contractor Mortgage Customer from Southampton
“Adam’s advice on the different types of critical illness and life insurance were really useful. He also worked with us to decide the best combination of policies that would work with our existing policies to cover our needs. When doing this he happily tweaked quotes for us until we came out with an arrangement that was both affordable and would provide us with the level of cover we thought appropriate.”
Hannah and Steve, Protection Insurance Customers from Stamford
“Adam provided us with factual advice and also with options of which we were unaware. The advice on gifted equity was something we hadn’t heard about and this assisted us hugely to ensure repayments worked within our affordability. He provided us with a very personal service that made the journey from initial call, to mortgage offer and completion hassle free. We have already recommended Adam to someone and will continue to recommend his services in the future.”
Saul and Laura, Home Mover Mortgage Customers from Salisbury
“Mike and I collected the keys to our flat this weekend and we couldn’t be happier. It’s been a long time coming but we got there! We just wanted to say a MASSIVE thank you for everything you have done for us so far. We’ve really appreciated all the help, advice and reassurance you’ve given us all the way through this process. It’s really nice to have a friendly voice on the other end of the phone.”
Mike and Bethan, First Time Buyer Mortgage Customers from London
“Without question Adam found me a deal the estate agent’s broker couldn’t. He was very easy to contact whenever I needed him and he took time to explain the ins and outs of the Help to Buy equity loan scheme mortgage that he found me. I would rate him five out of five and will be back to use him when the time comes to remortgage or move.”
Chris, Help to Buy Mortgage Customer from Southampton