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.
With over 90 five star reviews on Google and over 90 verified reviews on VouchedFor, we would love to work hard for you.
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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