First Time Buyer/Help to Buy

The prospect of buying your first home could be both daunting and confusing. We aim to guide you through the transaction from start to finish so that you understand exactly what the purchase entails and how much it will cost. We can recommend the services of local solicitors to assist in this process. This may be the largest financial transaction you are ever likely to make so it must be done with clarity.

There are some advantages to being a first–time buyer. Interest rates are currently very low, and first–time buyers are more appealing to sellers because they are not in a chain.

As we have access to many lenders, we are well placed to assist you. However, these days it is a necessity to provide a substantial deposit in order to get a mortgage (although there are a number of 95 per cent mortgage deals around). You may be eligible for further assistance from the Help to Buy Scheme.

Help to Buy:

In April 2013, the Government rolled out the first phase of a new Help to Buy Scheme, which offers equity loans to first–time buyers (as well as existing homeowners) by providing borrowers with a loan for 20% of the property value. This Scheme applies to new build properties only, and with the purchaser being required to put down as little as 5% as a deposit, a mortgage of only 75% would be needed from a lender.

This Scheme is available in England only until March 2021. Different variations to the Help to Buy scheme apply in Wales and Scotland.

Call us now or use our mortgage enquiry form, and we’ll be delighted to assist you.