A person is generally classed as a first time buyer if they have not owned or part owned a property in the UK or abroad before. Buying your first home can be daunting, applying for a mortgage, dealing with estate agents and solicitors whilst usually working at the same time!

One of the most important things for a first time buyer is to ensure the mortgage is affordable and that life doesn’t have to stop because you are now a homeowner. We will always make sure we have thoroughly looked at your budget and made allowances for not just the mortgage payment but all the new bills you may need to pay, such as council tax, water, gas and electricity.

We will also go through the upfront costs such as solicitors, stamp duty, moving costs and mortgage fees. You will usually need a deposit of at least 5% of the purchase price although the bigger deposit you have the more access to better products you will have. You will also need to have sufficient funds to cover upfront costs.

There are many different reasons you may be moving home. You may wish to buy a larger home to accommodate your expanding family, you may be downsizing as you no longer need so much room, you could also be relocating with your work or just want to move to a different area.

Whatever the reason, it is always a good idea to seek advice on the best way to do this. especially if you are still in a penalty period with your current lender, this means that if you pay the mortgage off there may be a large charge. There are hundreds of different lenders and thousands of different products to choose from, and it could be some time since you last moved,

Although most mortgage products can be moved over to another home, is it cheaper to pay the penalty and take out a new mortgage product? What about any increased borrowing? Will your current lender help with the new amount you are looking for? What are the other costs involved?

When you take out a new mortgage you generally get an introductory deal. This usually lasts between two and five years. Once the introductory rate expires your mortgage will automatically be changed to the standard variable rate. This is usually much higher than the initial rate and you will see your mortgage payments increase, sometimes quite dramatically.

You should seek advice around three months before your current rate is due to expire to make sure you avoid the payments increasing too dramatically. The new product you choose will very much be dependent on the current rates and products on offer at the time. You will need advice on which product will best suit your current circumstances.

You may also want to raise further capital at the same time . The main reasons are usually home improvements, debt consolidation or even raising funds to help your children on to the housing ladder or pay for a wedding!

Shared Ownership is another government scheme under Help to Buy. This scheme is aimed at helping people who, based on their current affordability, are struggling to get a mortgage for the full amount they need to purchase a suitable home.

The scheme allows you to purchase a share between 25% and 75% of the homes value and pay rent on the remainder through a Housing Association. The scheme usually allows you to purchase further shares as your affordability increases. You can purchase a newly built home or an existing shared ownership being re-sold.

You will need to apply to the Housing Association and meet their criteria as well as apply for a mortgage, of course, we will help you with both applications.

Buy to Let mortgages are for first time landlords or experienced landlords wanting to purchase a property to let out. There is a wide range of lenders that will help with a Buy to Let mortgage, the specialist Buy to Let lenders usually require your application to come through a broker.

I can help you by researching the market for the best product for your needs and help you with your application to the lender.

In addition to straight forward buy to let mortgages I can also help with HMO mortgages (houses of multiple occupation) and Limited Company mortgages.