First Time Buyer Mortgage Advice
Open from 8am to 10pm
Our journey starts here
Being a First Time Buyer and starting on to the property ladder can be an exciting time but can also seem a little daunting. The team of Mortgage Experts on hand at UK Moneyman hold both knowledge and experience, partnered with the latest technology to make the whole process as stress free as possible for a First Time Buyer and offer the best Mortgage Advice available. When you use UK Moneyman, your delegated Mortgage Advisor will be on hand every step of the way, offering clear and simple Mortgage Advice, from your initial call to getting the keys to your dream first home and beyond. You'll be in safe hands with us!
Meet Matt, one of my first time buyer mortgage experts
"I've helped many first-time buyers achieve their goals in home ownership and my job doesn’t just stop at securing you a mortgage offer.
I'm here to answer all of your questions by phone or email, no matter how small. Also, support you through every step of the process, from putting offers forward to estate agents, obtaining quotes from conveyancing solicitors to advising on what property survey to choose and much more.
Having previously worked at a high street bank, I found turning long standing customers away for reasons such as being self-employed, having poor credit, paying child care costs etc very hard and often undeserved.
Now, here at UK Moneyman, I've got access to a very large number of mortgage lenders with some being very specialist. I'm now able to be a 'human' and use my own knowledge and experience to help more customers on to the property ladder.
This is the most rewarding part of the job!"
Your dedicated mortgage advisor will discuss the different mortgage types available to you and find the best option suited to your individual circumstances.
Fixed Rate Mortgage
Fixed rate mortgages offer you financial stability. Your interest rate will be fixed for a set period of time, meaning your monthly mortgage repayments will remain the same.
Variable rate mortgage
A variable rate mortgage is opposite a fixed rate. Your interest rate will go up or down in relation to the Bank of England base rate or your lenders standard variable rate (SVR).
Tracker mortgage
A tracker mortgage is a type of variable rate mortgage where your interest rate tracks the Bank of England base rate at a set margin, for example 1.5% above or below it.
Offset mortgage
With an offset mortgage you have a bank account which is linked to the mortgage. The bank account doesn’t attract any interest but whatever you deposit “offsets” against your mortgage balance. So, if you have a £100,000 mortgage and £15,000 in your savings pot you only pay interest on £85,000.
-
Fixed Rate Mortgage
Fixed rate mortgages offer you financial stability. Your interest rate will be fixed for a set period of time, meaning your monthly mortgage repayments will remain the same.
-
Variable rate mortgage
A variable rate mortgage is opposite a fixed rate. Your interest rate will go up or down in relation to the Bank of England base rate or your lenders standard variable rate (SVR).
-
Tracker mortgage
A tracker mortgage is a type of variable rate mortgage where your interest rate tracks the Bank of England base rate at a set margin, for example 1.5% above or below it.
-
Offset mortgage
With an offset mortgage you have a bank account which is linked to the mortgage. The bank account doesn’t attract any interest but whatever you deposit “offsets” against your mortgage balance. So, if you have a £100,000 mortgage and £15,000 in your savings pot you only pay interest on £85,000..
A minimum of 5% of purchase price is usually required as a deposit for a first time buyer. The more deposit you have available the more competitive the mortgage deals are. Your deposit can be made up from a mixture of the below:
Bank of mum and dad
It's very popular for parents and grandparents to help first time buyers out with their first home purchase. Usually, this is in the form of a gift.
Your savings
This can be a mixture of sole, joint or multiple savings accounts. Whether this is in your own bank, your partners, savings accounts, or ISAs.
Buying under value
Buying a house from a family member, local council, friend or your current landlord at below market price can usually count towards your deposit.
Help to buy
You'll still need a minimum of 5% of purchase price deposit if you're buy a new build property using the help to buy scheme. If you are successfully meet criteria, the government will also lend you up to 20% as an interest free loan.
-
Bank of mum and dad
It's very popular for parents and grandparents to help first time buyers out with their first home purchase. Usually, this is in the form of a gift.
-
Your savings
This can be a mixture of sole, joint or multiple savings accounts. Whether this is in your own bank, your partners, savings accounts, or ISAs.
-
Buying under value
Buying a house from a family member, local council, friend or your current landlord at below market price can usually count towards your deposit.
-
Help to buy
You'll still need a minimum of 5% of purchase price deposit if you're buy a new build property using the help to buy scheme. If you are successfully meet criteria, the government will also lend you up to 20% as an interest free loan.
Work patterns are becoming more complex, and unlike most high street banks, here at my moneyman we are able to adapt. As long as you are able to prove your income in the form of tax calculations (SA302s) and tax overviews, you'll be in a great position to buy a property with my moneyman.
Sole trader/partnership
Usually with a minimum trading of 1 year we are able to help. Most lenders calculate sole trader income based on an average of the last 3 years, some are happy with the last 2, and others are happy with the latest tax return.
Limited company owner
Whether you are receiving income in the form of dividends, salary, a mixture, retaining your profit in your business and/or pension contributions, your my moneyman advisor will prove invaluable. With our experience and knowledge, you'll be in safe hands with us.
Freelancers
Weekly rate multiplied by 48 weeks is the usually maximum income we can work from to calculate your maximum borrowing. Lender criteria varies significantly here and it's our job to recommend the best mortgage deal for you.
Contractor
The great thing here is you could be treated as both self-employed or employed depending on lenders policy, it's our job to know our lending criteria here. Even if it's your first year, it may be possible to help depending on how many months you have left on your contract.
-
Sole trader/partnership
Usually with a minimum trading of 1 year we are able to help. Most lenders calculate sole trader income based on an average of the last 3 years, some are happy with the last 2, and others are happy with the latest tax return.
-
Limited company owner
Whether you are receiving income in the form of dividends, salary, a mixture, retaining your profit in your business and/or pension contributions, your my moneyman advisor will prove invaluable. With our experience and knowledge, you'll be in safe hands with us.
-
Freelancers
Weekly rate multiplied by 48 weeks is the usually maximum income we can work from to calculate your maximum borrowing. Lender criteria varies significantly here and it's our job to recommend the best mortgage deal for you. .
-
Contractor
The great thing here is you could be treated as both self-employed or employed depending on lenders policy, it's our job to know our lending criteria here. Even if it's your first year, it may be possible to help depending on how many months you have left on your contract.
Most often, the answer is yes. We're able to utilise our knowledge and experience to recommend the most suitable lender for you. Customers with bad credit really need the level of help and support that our my moneyman mortgage advice team will provide.
Specialist lenders
Just because you have been turned down by your high street bank doesn’t necessarily mean the end of the road. We work with some specialist mortgage providers who all have different lending criteria.
Your credit report
If you are aware that you have had some problems in the past, then obtaining an up to date copy of your credit report will prove invaluable for your mortgage advisor.
Our knowledge
Armed with your up to date credit report and our vast knowledge of lending criteria, we will be able to advise you on the best possible mortgage for your individual circumstances.
Bad credit types
We have experience helping customers with CCJ's, missed payments, defaults, arrears, debt management plans, and ex-bankrupts.
-
Specialist lenders
Just because you have been turned down by your high street bank doesn’t necessarily mean the end of the road. We work with some specialist mortgage providers who all have different lending criteria.
-
Your credit report
If you are aware that you have had some problems in the past then obtaining an up to date copy of your credit report will prove invaluable for your mortgage advisor.
-
Our knowledge
Armed with your up to date credit report and our vast knowledge of lending criteria, we will be able to advise you on the best possible mortgage for your individual circumstances.
-
Bad credit typess
We have experience helping customers with CCJ's, missed payments, defaults, arrears, debt management plans, and ex-bankrupts.
Why use UK Moneyman?
Unlike most mortgage brokers, we are not partnered with any estate agents, bank or builder and have your sole interests at heart. Our mortgage advisers are available 7 days a week 8am – 10pm to help and guide you throughout the whole process.
Your my moneyman dedicated first time buyer mortgage advisor will search and compare 1000's of deals to find you the best mortgage tailor made to your individual circumstances.
We pride ourselves on the level of service we offer to our customers. Don’t take our word for it though, read our genuine customer reviews.
We offer all of our customers a free no-obligation mortgage consultation. Out of hours mortgage advice isn't a problem. We appreciate the busy schedules of day to day life, this is why UK Moneyman mortgage advice is available 7 days a week 8am – 10pm.
Why use UK Moneyman?
We work for you
Unlike most mortgage brokers, we are not partnered with any estate agents, bank or builder and have your sole interests at heart. Our mortgage advisers are available 7 days a week 8am – 10pm to help and guide you throughout the whole process.
We search 1000's of mortgage deals
Your my moneyman dedicated first time buyer mortgage advisor will search and compare 1000's of deals to find you the best mortgage tailor made to your individual circumstances.
Five star service
We pride ourselves on the level of service we offer to our customers. Don’t take our word for it though, read our genuine customer reviews.
Free mortgage consultations
We offer all of our customers a free no-obligation mortgage consultation. Out of hours mortgage advice isn't a problem. We appreciate the busy schedules of day to day life, this is why UK Moneyman mortgage advice is available 7 days a week 8am – 10pm.
Don't take our word for it
Here's what our customers have to say
Malcolm's First time buyer guides
Let’s get mortgaging!
Call free 8am to 10pm