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First Time Buyer Mortgage
Advice in London

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First Time Buyer Mortgage
Advice in London

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in London.

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Helping first time buyers in London.

Mortgages are considered to be pretty massive financial commitments. Because of this, if you are a first time buyer in London, getting the process started can be daunting. As we provide expert mortgage advice in London, it’s our job to reduce your stress levels and support you throughout your mortgage process.

It’s about more than just the mortgage; it’s about the journey you took to get there. We will do our best to simplify the process, keeping you informed at all times. You will have a mortgage advisor in London by your side, from the beginning until the end.

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First Time Buyer Mortgage <br>Advice in London

How much deposit do I need for a first time buyer mortgage in London?

This is dependant on how your credit score is looking, as well as how low you want your monthly mortgage payments to be.

As a mortgage broker in London, tend to find that first time buyers in London who have a good credit score, have access to much better rates and can put down a lower deposit, such as 5%.

On the flip side, if you happen to be a first time buyer in London with a lower credit score, you may only be able to access lower rates and be required to put down a higher deposit, perhaps around 10-15%.

You may also want to put down a higher deposit if you wish to lower your monthly repayments. The less you need to borrow, the less you need to pay back overall.

The amount of deposit you put down will also depend on the value of the property you buy. If you require a larger mortgage for a more expensive property, you will have to put down more deposit.

What type of first time buyer mortgages can I get in London?

There are a variety of first time buyer mortgages in London that may be available, each different from the rest. The most popular first time buyer mortgage is a fixed-rate mortgage, where you fix in your interest rates for a long time, to protect yourself against any interest rate hikes.

There is also a tracker mortgage. If the Bank of England the base rate goes up, so do your interest rates. If the rate drops, it will also do that. Discounted variable rates are a cheaper option, although if a lender’s SVR changes, your interest rates will change also.

Finally, there is an offset mortgage. This gives you an interest-free, flexible savings account to compensate for the balance of the mortgage. The greater your savings are, the less interest you pay on your mortgage.

To learn more about the different types of mortgages at your disposal and find out which one is best, please book online your free mortgage appoint to speak with one of our mortgage advisor in London today.

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Common FAQs From First Time Buyers in London

Are there ways to help me get onto the property ladder in London?

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If you are unable to save up for the minimum deposit required, there are some government mortgage schemes that could help. They were brought in as a means of helping first time buyers to get onto the property ladder.

These schemes include the Help to Buy Shared Ownership Scheme, Mortgage Guarantee Scheme, the First Home Scheme and a handful of others. Of course, you’ll have to qualify for each of these schemes first. This is where an experienced mortgage broker in London can help.

For additional first time buyer mortgage advice in London and to discuss any of the government mortgage schemes if you need them, book your free mortgage appointment and speak to a mortgage advisor in London today.

What are the costs involved with first time buyer mortgages in London?

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As well as the deposit you saved, the other costs involved are conveyancing and solicitors costs, property surveys, broker fees, and mortgage arrangement fees.

You may also have a stamp duty to consider, as well as any insurance (to protect your home, content or financial security) that you can take out.

Your dedicated mortgage advisor in London will be able to discuss further with you in more detail all the additional costs during your free initial mortgage appointment.

What do I need to buy my first home in London?

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To be eligible to buy your first home, you must first have saved enough for a 5% deposit or more to be eligible to take out a first time buyer mortgage in London. You will also need to appoint a conveyancing solicitor to carry out the legal proceedings that come with purchasing any property.

As a mortgage broker who helps first time buyers in London, we are here to help you, every step of the way. Our mortgage advisors in London can help you check your eligibility and get you the most suitable first time buyer mortgage in London.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Whatever you are looking to achieve, we always recommend discussing your current situation and options with an open and honest mortgage advisor in London.

During your free initial appointment, your mortgage advisor in London will take key information surrounding your income and expenditure to work out the maximum amount you can borrow for a first time buyer mortgage in London.

We Can Search 1000s of Mortgage Deals

Step 2

Here at Londonmoneyman, we search 1000’s of first time buyer mortgage products to find the most suitable deal for you!

After 24 hours of your free initial appointment, we aim to get your mortgage agreement in principle, which can be a great tool to support all the offers you want to make in London.

Submit Your Mortgage Application

Step 3

Once your offer has been accepted, your mortgage advisor in London will submit your full mortgage application and forward all documentation to the lender.

During this process, your dedicated case manager will keep you up to date throughout the process until you receive your official mortgage offer and complete your purchase.

Protecting You and Your Mortgage

Step 4

We like to go the extra mile. As well as securing you the most suitable mortgage deal, we will also recommend relevant insurance to keep you and your loved ones safe.

We will also contact you when your mortgage is due for renewal to ensure you are always on the best deal.

Reasons to Choose us

Free Mortgage Appointment

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We have some fantastic customer reviews from other first time buyers in London who came to us for mortgage advice in London, and they are a great representation of the levels of service we provide. While booking your free mortgage appointment, take a look to see what our customers said and to see how we may be able to help you too!

1000s of Deals

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As an open and honest mortgage broker in London, we are able to search through many competitive mortgage products on your behalf. We have a large panel of lenders and will be able to find the best one for you and your mortgage needs!

Our Service

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Over the years we have helped thousands of first time buyers in London to achieve their mortgage goals. Throughout that time, we’ve encountered various similar mortgage situations, as well as some unique. In any case, we’ll do whatever we can to help you as a first time buyer in London.

It is our job to provide fast and friendly mortgage advice in London. We will try and find the most suitable mortgage product for you. Book yourself in online for your free mortgage appointment using our online booking feature. It’s clear and simple, just like our mortgage advice service.

7 days a Week

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Our team are available 7 days a week, including bank holidays and weekends. This means that as a first time buyer in London, you can book in your own appointment with a mortgage advisor in London at a convenient time, including out of hours!

Malcolm and Amy Davidson - Mortgage Advice in London

We Search 1000s of First Time Buyer Mortgages in London

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Common First Time Buyer Mortgage Scenarios

How much can you borrow for a mortgage in London?

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If you are struggling to figure out how much you can borrow, you can either use our affordability calculator or speak with one of our mortgage advisors in London. Speaking to a real person will be able to give you a better example of what that figure might be.

Depending on specific factors, such as your income and how much you earn, the amount that you are able to borrow will change. Once we have carried out a free affordability assessment, we will be able to better advise on that amount.

Ready to make an offer on a property?

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Once you have a property that you are ready to make an offer on, you now need to get started on the mortgage side of things. At this point, you can book yourself in for a free mortgage appointment online with one of our brilliant mortgage advisors in London. Appointments are subject to availability, but if you’re lucky, you might get one for the same day!

Has your offer already been accepted?

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If your offer has been accepted, that means you need to get your mortgage sorted! By enlisting the help of a mortgage broker in London, the mortgage process can be done quicker.

Looking for an agreement in principle ahead of your mortgage?

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An agreement in principle, or AIP for short, is essential for your mortgage journey. This helps you through the majority of the process. An agreement in principle tells the seller that you are ready to go, once you provide evidence to support your application. We can normally get this document for you within 24 hours of your initial call.

Struggling to get accepted for a mortgage?

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If you are finding it difficult as a first time buyer in London, you should seek the help of a mortgage specialist. Let us take your hand and guide you through your mortgage process.

Book your free mortgage appointment and speak with a mortgage advisor in London today.

Mortgage Guides & Londonmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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