First-Time Buyers


Protect what matters most: your family and your income

First Time Buyers

Buying your first home is a daunting prospect, and hopefully a pleasant lifelong decision. There can be many things to think about when you are buying your first home; mortgage products, rates and lenders to choose from.

The loans available to first time buyers are changing constantly and its difficult to find a suitable lender without using relevant software and having a detailed knowledge of the market. You could buy the tools, the Haynes Manual and service your own car; most people take their car to the garage. So why source your own mortgage when you don’t have the tools, the experience or the time available? 

The rates you will find on the internet advertised by lenders ignore their idiosyncratic criteria and could lead to wasted time and effort. For example, the Green Mortgage which requires A/B on the EPC. Great rate but you never get it. You will end up with the same the lender who advertised it on a different rate because you have wasted too much time on a wild goose chase because you didn’t know the EPC rating when you applied for the Decision in Principle. A/B is impossible for 99% of houses in the UK.  Brokers use sourcing tools and separate tools to check lender’s criteria. 

Your home may be repossessed if you do not keep up repayments on your mortgage

Mortgages for Parents to Assist Offspring

The hurdles facing young adults in the purchase or a property are significant. The deposit, insecure income, unreliable income due to contracting, insufficient track record. This is excruciating when the rent is more than the level of mortgage payments.

Lenders are aware of the difficulties facing young adults; many of them having children themselves. The choice is limited but one solutions is ideal for the parent offering a helping hand.

The “Joint Borrower Sole Proprietor” mortgage is when the parent’s income is considered with the son or daughter’s income (including their partners). The mortgage is portable. which means when the son or daughter’s income has increased, the loan is easily and painlessly transferred to the son or daughter. The son or daughter owns the property as the sole proprietor.

This is a beautiful solution which solves the problem of property purchase for young professionals. It works like a temporary guarantee from the parent. The term could be fixed for five years and the parent can exit as soon as the young professional has the income to support the loan. It works for B2L properties and is therefore a clever inheritance tax planning measure which could save 40% in inheritance tax on a deposit provided by the parent after seven years (financial advice essential if this is of interest).

Your home may be repossessed if you do not keep up repayments on your mortgage.

Portrait of a happy young man relaxing and spending time with his father at home


Protect what matters most: your family and your income

remortgage


Protect what matters most: your family and your income

Remortgage

A remortgage is when you switch your existing mortgage, sometimes to another lender without moving property.  Re-mortgaging is beneficial for you, if you would like to:  

  • Refinance at the end of a fixed rate
  • Access lower rates of interest
  • Benefit from a longer fixed rate period
  • Reduce the monthly repayment 
  • Release equity 
  • Consolidate debt 

Lenders always make contact before the end of a fixed rate period with a their renewal proposals but not usually the best deal. Its is never beneficial to accept a blind offer from a salesman or woman! Your mortgage broker will find a better rate and more suitable mortgage, or at least a shortlist and you are free to decide which is best.

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage

Buy to Let Mortgages

These are mortgages advanced to private landlords and property investors to purchase investment properties.

Buy to Let mortgages are considered as business investments and are typically higher risk, therefore they are at higher interest rates. 

The range of lenders in the buy to let space is extensive and many are not high street names, they rely on brokers as their sales force and do not have a branch network. The broker plays a key role as the mediator between the buy-to-let borrower and lenders. If you are in trouble with renewing the finance on your buy-to-let investment or portfolio, have arrears, or in difficulties due to vacant properties, your best friend is the mortgage broker who can sort it all our for you!

Some buy to let mortgages are not regulated by the Financial Conduct Authority.

Flexible Mortgages

Flexible mortgages are standard mortgages with additional features built-in.

These mortgages are for homeowners who want more control over their mortgages; overpayments, underpayments, porting, offset against savings are flexible features. Family support mortgages where a parent provides additional security, acts as guarantor or a joint borrower are popular for assisting a younger family member purchase the first property.  

Need a flexible mortgage? 

Speak to one of our brokers for expert financial advice. 

Your home may be repossessed if you do not keep up repayments on your mortgage.

Self-Build Mortgages

A self-build mortgage is when the construction project is funded by the mortgage and the money is released by the lender over the life of the project. The mortgage is released in stages during the construction process.

You will need professional support from architects and surveyors for the planning applications and supervision of work. You also need a broker who has direct access to the few lenders who will entertain a self build project.

Your home may be repossessed if you do not keep up repayments on your mortgage.

self-build mortgages


Protect what matters most: your family and your income

Scroll to Top