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First Time Buyer Mortgages

If you want to get on the property ladder, there are many ways to do so. If you have never had a mortgage before, you might wish to get a first time buyer mortgage. There are many things that you need to know about this type of loan. First, you will need to save for your home deposit. You usually need to pay around 5-10% of the value of the home. You should decide how much you want to pay for a home and start to save for the right amount. Once you have it, it's time to apply for a mortgage. Here's everything you need to know.

What is a first time buyer mortgage?
A first time buyer mortgage is a loan that will help you cover the cost of your home. You borrow a lump sum from a lender and pay them back in monthly instalments. You should be aware that these payments are not optional. You will need to pay them every month, and so you should ensure that you can afford them. The lender will check your credit history to see whether you are a reliable person. They may also check your stress levels to see how you can cope with pressure. That means that if you lose your job, they can see whether you will thrive (and pay the mortgage) or freak out. Not all lenders will do as thorough initial background tests, so if you feel it will be an issue, you may still be able to get a loan. Similarly, if you have a bad credit history and have been rejected in the past, it does not mean you will not be able to get a loan now. If you contact one of our friendly team members they will be able to advise you of the various options.

It should not take all that long to see whether you can afford a mortgage or not. If you know how much you can spare each month, this sum will be a good way of seeing how much you can afford in repayments.

How can you apply for one?
The application process is easier than you might imagine. You can just enter your details on a simple form and submit it and one of our advisers will contact you.

What is the criteria?
As we mentioned before, most mainstream companies will do a thorough check when you first apply. If you have found that many businesses have rejected you in the past, it might still be worth applying, or contacting our team for advice. We will help you work out how much you can afford to borrow and supply you with a mortgage details.

First Time Buyer Mortgages

A Happy Couple
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Borrow £25,000 to £500,000
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Property Purchase and Re-mortgages
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CCJ's, Defaults and Missed Payments
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Mortgage Arrears
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No Initial Credit Check
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Before submitting your details please tick the box confirming that you want to be contacted by The Money Hub and that you have read and agree with our Initial Disclosure Document, Data Protection Policy and Privacy Policy. We will never pass your details to 3rd parties.

How We Work

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To start with please either call us or complete the above online application form.
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One of our mortgage consultants will be in touch with you to discuss your application.
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After we have your details, we will search the market for the best schemes to suit you.
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We will then forward the ESIS to you and talk you through the details of your mortgage.
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