Starting out isn’t easy. Let’s make it stress free.
Buying your first home is an exciting and significant step, but it can also sometimes be a complex and overwhelming experience. At ABP Mortgage Solutions, I will be there to support you at every step of buying your very first home! I will provide you with personal advice given your own circumstances and unravel and explain any technical terminology to make the process as simple as I can. To save you the worry and stress, I will use our access to a large pool of lenders to obtain the best competitive mortgage product for your needs and manage the whole process right the way through. I will explain the costs and mortgage process and I will assist you at every stage; from your initial enquiry until you get the keys to your new home.
You find the house; I will do the rest!
Throughout the process, I will keep in close contact to keep you updated on the application process and support with arranging all the necessary documents and details to make the whole mortgage process as simple and straight-forward as I can for you.
In addition, I will be able to support you and offer guidance about other mortgage schemes available, such as the Shared Ownership and Help to Buy schemes.
Apart from your monthly mortgage payments, there are other costs when buying a home which you will need to consider.
These include:
As a first-time home buyer, the most important thing to bear in mind is whether you can really afford to take this step. It is important to put together a budget before you start looking for a property.
There are strict checks when you apply for a mortgage.
Lenders will check you can afford the mortgage and also ‘stress test’ your ability to make your payments if interest rates were to rise or if your circumstances changed, such as a planned retirement date or if you started a family.
As part of the mortgage application process you will need to show the lender evidence of any outgoings you have and prove your income.
Whatever your situation we understand that you need a mortgage which suits your own individual needs and circumstances, and I will give you tailored advice which best suits your financial needs.
A person is generally classified as a first time buyer if they’re purchasing their only or main residence and have never owned a freehold or have a leasehold interest in a residential property in the UK or abroad.
Before looking at properties, you need to save for a deposit.
Generally, you need to try to save at least 5% to 20% of the cost of the home you would like.
For example, if you want to buy a home costing £150,000, you’ll need to save at least £7,500 (5%).
“ Your home may be repossessed if you do not keep up repayments on your mortgage”
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