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First Time Mortgages.

Check your eligibility in minutes, without affecting your credit score.

First Time Buyer. FAQ.

Researching, sourcing, and deciding which is the best first mortgage can be tricky. We’ve got experienced advisors waiting to chat. Below are a few questions that might help.

As much as you can. As a general rule, the more you can save towards a deposit, the better your first time buyer mortgage rate will probably be.

Aim to put down at least 5-10% of your chosen property’s value. So if you’re looking to buy a £100,000 house, try to save at least £5,000-10,000 as your deposit.

Yes, there are. As well as your mortgage and deposit, there are a few extra fees to pay when you buy your first home.

  • Legal fees – These fees cover Land Registry costs and conveyancing during the process of the sale.
  • Surveyor’s/valuation fees – make sure that you choose the most suitable type of survey for the house you’re buying. A newer build will need a less comprehensive survey than a home built 100 years ago. Don’t leave it to chance… you don’t want any nasty surprises further down the line.
  • Stamp duty – Good news. Following the introduction of new legislation, homes costing up to £300,000 are now exempt from stamp duty land tax for first time buyers. However, if you’re buying a house worth more than this, you’ll need to pay stamp duty upon completion. Remember that this cost cannot be added to your mortgage.
  • Moving costs – remember to set some cash aside to pay for things like removals, furniture and home insurance.

You will be pleased to know that our advisors can carry out a “Cost of Moving” calculation for you, which will give you an idea of how much money to set aside for these fees.

The good news is that as a first time buyer you’re already pretty attractive to sellers. Nobody likes a chain, and first time buyers may be able to obtain a property with a lower offer if they are not weighed down with a complicated chain behind them.

But how can you make the banks want to lend to you? All they want is evidence that you will be able to keep up with your mortgage repayments. Here are some things you can do to put them at ease.

  • Pay off things like your credit cards, phone contracts and utility bills on time.
  • Show them that you can cope with fixed costs like childcare, as this may have an impact on how much they are prepared to lend.
  • Try not to make any new credit applications in the six months before you apply for a mortgage.
  • Thanks to new affordability criteria, lenders will now scrutinise not only your salary but your spending. Now might be a good time to cut back on those weekly treats (or that dusty old gym membership).

For a more in-depth look into some common types of first-time buyer mortgages, check out our following guides:

Hot off the press.

We’re often asked to comment on the latest hot topics from across the property industry,
From mortgage top tips, to the best colours to paint your walls, some of our friends below:

Complete our 10 minute fact find online and we’ll be able to search our 100+ lenders quicker and call to talk you through it at a time that suits you.

Meet Jamie, our Insurance Guru.

Jamie is a specialist for all things insurance. Whether it’s life, income protection, critical illness or buildings and contents… Jamie is the guru.

Apply. Easy as 1, 2, 3.

Applying for a mortgage with mortgageable is easy. You can give us most of the information we need up front via out ‘fact find’. You can book a time for an advisor to call you… or you can start with a quick chat online.

Complete our quick online ‘Fact Find’ and we’ll match you to an Advisor.

Your advisor will scower over 100 lenders to find you the best deal.

Easy application via our online portal & dedicated admin support.

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