First Time Buyer

Agreement in Principle (AIP) Defined: 

• AIP, also called a decision in principle, is a conditional mortgage offer you get before applying for a mortgage.

Not Mandatory, but Highly Beneficial: 

• While not obligatory, having an AIP can significantly benefit first-time buyers.

Boosts Offer Credibility: 

• An AIP can increase the likelihood that your offer will be taken seriously by the seller.

Strong Position for First-Time Buyers: 

• First-time buyers have an advantage because they don't need to sell a property before buying, making them more appealing to sellers.

AIP Ensures Standing Out: 

• An AIP helps your offer stand out in a competitive market.

Peace of Mind: 

• With an AIP, you can be confident that your offer can progress smoothly to completion
• Avoid disappointments later in the buying process.

• Your status as a first-time buyer doesn't solely determine your loan amount; it's based on your financial situation and credit score, just like any other applicant.
• Mortgage offers can differ among lenders, each having their unique criteria.
• To estimate your potential borrowing amount, you can use free online mortgage calculators. However, their accuracy depends on the information you provide. For precise results, we recommend consulting one of our Mortgage Brokers.
• Our Mortgage Brokers can not only ensure accuracy but also help you assess affordability with various lenders at the touch of a button, saving you time and effort. They also verify lending criteria requirements for you.

Elevating your credit score can open doors to better mortgage rates, lower monthly payments, and increased loan approval odds, saving you money and making your homeownership dreams a reality.

How to improve your credit score:

Check Your Credit Report: 

• Regularly review your credit report for accuracy.
• Our Mortgage Advisors can help you understand and address any issues found.

Pay Bills on Time:

• Timely payments are crucial. Set up reminders to avoid late payments.

Use Credit Responsibly:

• Keep credit card balances low and avoid overextending your credit.

Establish Credit History:

•  If you have no credit history, consider credit-building options. 
• Our Mortgage Advisors can recommend suitable credit products.

Consult with Us:

• Our Mortgage Advisors offer expert advice on improving your credit score.
• We can provide tailored strategies to enhance your creditworthiness.

Focusing on these key actions, along with the assistance of our Mortgage Advisors, will simplify the process of improving your credit score and getting ready for your mortgage application.

Deposits Vary Among Lenders:

•  Different lenders may have varying deposit requirements for first-time buyers.

Typical Deposit Range:

•  For a standard residential mortgage, a down payment of typically falls within the range of 10% to 20% of the property's purchase price.

Challenges for Low Income Individuals:

•  Raising a substantial deposit can be challenging if you have limited disposable income.

Government Assistance Programs:

• There are government schemes designed to assist first-time buyers by offering more flexible deposit requirements.
• These schemes can make homeownership more accessible, even with a lower deposi 

We can absolutely help you understand and manage the overhead costs in buying your first property and make it easy for you:

Deposit: 

• The upfront payment to secure your new home. 
• Remember, you will need to pay some deposit upfront to acquire a mortgage
• We can look at possibilities to mat home to your needs.

Valuation Fees: 

• These fees will vary depending on the lender chosen And we help you chose the right one

Mortgage Fees:  

• Costs related to your mortgage, which we'll help you navigate.

Legal Fees: 

• Expenses for legal assistance, expertly managed by us.

Stamp Duty:

•  A tax that varies based on the property; we'll guide you through this.

Tailored Mortgage Advice: 

• We provide personalized mortgage advice based on your unique financial situation and goals.

Access to Lender Options: 

• We have extensive knowledge of various lenders and their specific criteria, ensuring you find the best mortgage deal.

Credit Score Improvement: 

• We offer guidance on improving your credit score to enhance your eligibility for favorable mortgage terms.

Government Schemes: 

• We can help you explore government schemes designed to assist first-time buyers with more flexible requirements.

Cost Clarification: 

• We'll explain the costs involved in buying a home and help you manage them effectively.

Legal Assistance: 

• Our team can connect you with trusted solicitors or conveyancers to streamline the legal aspects of your purchase.

Ongoing Support: 

• We're here throughout your journey, from mortgage application to closing, offering continuous assistance and advice.

Simplified Process: 

• We make the complex home buying process simpler, ensuring you understand every step and decision.