First Time Buyer Mortgages

Do you want to know how much you can borrow and what your mortgage payments would be? Not sure where to start? We’ll be able to answer all your questions and help you buy your first home.
We give open and honest advice to best suit your needs.
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We provide advice in a way that is easy to understand.
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Are you a first time buyer - we can help you

When you buy your new home there are quite a few people who need to get involved. There is usually yourself, an estate agent (developers for new builds), a mortgage lender, your solicitor and a mortgage broker. The communications between all these parties can become quite complex and we thrive in helping you throughout the whole process until you own your new home.

Since Covid began in early 2020, mortgages for first time buyers with small deposits have become more and more difficult to secure. At The Mortgage Broker Dorset, we constantly refresh our knowledge of mortgage lenders offerings in order that we match you to the best possible mortgage product.

We understand that deposits are extremely difficult to save and can give advice on deposits being used from Help to Buy ISA’s and Lifetime ISA’s. Additionally, we can help you with deposits gifted from friends or family.
As your local mortgage adviser, we can also help you through the Government Help to Buy (HTB) scheme for new build properties. For new build properties which qualify for the scheme, it is possible to secure a mortgage to buy a new property with as little as a 5% deposit. If you qualify for the HTB scheme, the government will lend you 20% of the property purchase price as a 5-year interest free loan. These schemes are an excellent way for first time buyers to get on to the housing ladder. By using your own 5% deposit, along with the Government 20% you will only require 75% loan to value mortgage and will therefore attract very competitive interest rates and payments.

Shared ownership properties are also an excellent way for first time buyers to secure their first home. These types of purchases can be useful for people with low incomes and who are not currently able to borrow high amounts on their first mortgage. As a local mortgage broker company in Dorset, we would look forward to helping you with this type of purchase.

When thinking of buying your first home, it is advisable to obtain a decision in principle (DIP) early on in your home buying process. Before any estate agent would take your offer seriously on a property, they would expect to see a DIP in place. With access to a comprehensive range of mortgages, we would look to obtain a DIP for you with the most attractive mortgage product available to you. Getting a decision in principle in place will let you know how much you can borrow and what your monthly payments would be before you start to look for your first home.

We offer the following for first time buyers:

  • We take all your initial details and let you know how much you can borrow
  • We will assess the market to find the best mortgage to match your requirements
  • Let you know what your monthly payments would be
  • Free appointments by phone, video call or face to face
  • Obtain a decision in principle for you once we have all your details
  • Communicate with you regularly until you own your new home
  • We will always look for free valuations and any cash-back offers available to you
  • If you have any missed payments or bad credit, we will analyse your credit file for you and let you know exactly what it means
  • We help all our clients throughout the whole purchase process until they own the keys to their front door

Call 01305 360886

Specialising in first time buyer mortgages, we’ll search the UK market and find the best product available for you.

Contact us today on 01305 360886.

Let’s start a conversation

Simply get in touch! We will help you arrange the most cost effective mortgage and protection product for you. Why not schedule a FREE chat? You might well be very surprised!