This is my first time applying for a mortgage and Clarke has been extremely helpful in every step of the process. He is always responsive, incredibly patient, and very clear in explaining the process. I would definitely recommend and would definitely work with Clarke again for my next mortgage!
At Wiser Mortgage Advice, we are passionate about helping you secure your first home while ensuring that your family and finances are protected. Contact us today to speak with one of our team members.
Buying your first property is a big step, which is why at Wiser Mortgage Advice, we are here to help and guide you through the process. Our team of mortgage advisors are dedicated to finding the most suitable products for first-time buyers.
We will walk you through all the costs involved in buying a property, including solicitor fees, surveys, and mortgage arrangement fees. As your mortgage advisor, we will provide an agreement in principle to verify your financial position, Additionally, we will compare an extensive range of mortgage lenders to ensure you get the most suitable product.
We have vast experience in dealing with affordable housing schemes such as Help to Buy and Shared Ownership. Our team will go through a monthly budget planner with you to ensure that the mortgage, protection, and household expenses are affordable.
Your goals are individual, we believe financial advice should be too
With you every step of the way
Frequently Asked Questions
Here are some of the most common questions when it comes to being a first-time buyer and purchasing your first home with a mortgage.
A first-time buyer is someone who has not purchased or owned a property before. You may have rented previously, lived with friends or family, or lived in social housing.
Importantly, if you were ever gifted or inherited a property, even if you didn’t purchase it, you would not be considered a first-time buyer.
The higher your deposit is, the higher the price of the property you can purchase. Having a higher deposit also means you may be eligible for more mortgage options as well, as lenders will look at you favourably.
A lot of mortgages require a minimum of 5% as a deposit amount, but having 10-20% can lower your monthly mortgage costs and make you eligible with more lenders.
It will depend on how much money you have saved for a deposit, and what that percentage is in relation to the full property price.
For example, let’s say you have £5000 saved up. This could be a 5% deposit for a £100,000 property, or a £10 deposit for a £50,000 property.
It is unlikely you’d be able to purchase anything higher than £100,00, as most lenders only offer mortgages at 5% or higher.
If you want to know what the maximum you could spend is, then you should arrange to get a mortgage in principle.
A mortgage in principle states how much you’ll be able to borrow through a certain lender. Mortgage advisors are very useful for arranging a mortgage in principle, also known as an agreement in principle, as they can shop around various lenders to find a maximum mortgage price, that still fits the monthly repayments you wish to make.
It is highly advised to have an agreement in principle before you start looking at properties, so you have a good idea of what you can afford and therefore narrow down your search better.
The First Homes scheme, Shared Ownership and Mortgage Guarantee Schemes are all available to first-time buyers.
Each scheme has their own eligibility criteria and properties they apply to, but your mortgage advisor can still help you finance your property purchase.
Get First-Time Buyer Mortgage Advice
Fill in the form below to speak with one of our expert mortgage advisors. We’ll let you know how much you could reasonably borrow.
Marcus has been unbelievably helpful and reliable in advising me with my mortgage. He has been able to find me the best deals for nearly two years now and I would not go with anyone but him!
Marcus has been a great help in my house-buying process; he is very knowledgeable and has advised me well with both the mortgage application process and also dealing with solicitors and insurance. He has always been quick to respond both over email and phone. I would fully recommend his services to anyone in the property market!
Kayleigh was very supportive and helped us find the best deal in the market! would highly recommend.
I find the entire mortgage process confusing and long winded. Dean explains and handles things in a very simplistic way, meaning that the hard work is done for me. He is personable and always available no matter how many times I need to contact him to ask annoying questions!
I have used Dean’s Services for several years now, and I am looking forward to working with him again in the future.
Dean sorted out our mortgage, home and life insurance for us and couldn’t fault him. Quick to respond and worked around us. Found us the best deals and rates. Took the stress of us and arranged everything for us and also was there anytime to contact sorb any questions. Lovely guy and made us laugh and had some banter. Will 100% recommend and will be using Dean again in the future for all our other re mortgages to come and any questions. Also must add very affordable. Thanks so much!
Clarke has been fantastic at helping me secure my first mortgage. I may have required some slight hand-holding but she was more than happy to walk me through the application and for this I must thank-you for all of your time and efforts Clarke, I will be highly recommending your services!
Would highly recommend Dean as a mortgage advisor. Explained everything really well, made sure we were happy with our choice and sorted out our insurances as well. The whole process and application was straightforward and easy with his help.