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FIRST TIME BUYERS
Start the journey to buying your first home
Buying your first home is an exciting time and likely to involve some of the most important financial decisions you will ever make. Such a large commitment can seem daunting, especially if you don’t know the process of buying your first home.
Aspire Mortgages are a mortgage brokerage, that specialise in finding the most suitable first-time buyer mortgage product for your individual circumstances.
From the moment you contact us right through to accepting the keys of your first home, we will help and guide you through the first time buying process. Cutting through the jargon, we make you feel at ease and keep you in control, ever step of the way.
We offer expert guidance as to which kind of first-time buyer mortgage product might suit your individual circumstances, take you through the mortgage application process helping you a successful completion. Of course, we are on hand after you have moved into your first home to answer any questions and review your circumstances regularly.
We guide you through the process of buying your first home with care and understanding.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Frequently Asked Questions:
What type of clients do you deal with?
- Members of the Armed Forces, some who use the Forces Help to Buy Scheme with regards to their deposit
- Shared Ownership
- Concessionary Purchase (where a family member owns the property being purchased and is selling at a reduced price)
- Help to buy Scheme
- Right to Buy
- Gifted Deposit
- Credit issues
- All age groups
How much can I borrow?
What Deposit will I need?
The deposit required can also depend on your financial situation, for example, should you have had previous credit issues a lender may require a higher deposit.
Can I afford it?
You will also be issued with a document called a Key Facts Illustration prior to the Mortgage Application being submitted which details all the figures relating to the recommended mortgage product, so you can ensure you are happy to proceed.
What type of mortgage do I want?
For example, you wouldn’t want to tie yourself in to a five-year initial deal period if you had plans to sell in three years’ time.
Will I get a mortgage?
What are the costs involved?
You need to be prepared for the costs involved in purchasing a property and not just providing your deposit. There are Solicitors costs for dealing with the property purchase, as well as the lender will require a Valuation Report to be carried out on the property. You may require a more in-depth Valuation than just a Standard Valuation should the property be an older property for example which will increase the cost.
Stamp Duty is no longer applicable for First Timer Buyers for the first £425,000. Following this there is 5% on the portion from £425,001 to £625,000. If the price is over £625,000, you cannot claim the relief. We do charge a fee, which is payable upon issue of the Mortgage Offer. Should we be unable to secure you a Mortgage Offer no fee is applicable.
All costs are discussed with you fully prior to a Mortgage Application being submitted. We can provide you with Solicitors Quotes and all other figures are detailed within a document called a Key Facts Illustration.
We can answer all your questions, offering you the most appropriate guidance and advice for YOU.
Contact us or pop in to the office for an informal chat