First Time Buyer Mortgage Advice in Peterborough

If you’ve never purchased a property before, then you are a first time buyer in Peterborough. Likewise, if you are living with a friend or partner who is classified as one, then you should be able to purchase a home as a joint partner.

We understand that buying a house for the first time can be daunting. That is why our mortgage advisors in Peterborough will explain the process to you in simple, easy-to-understand terms. They will guide you through the process of securing a mortgage and help you find the most suitable mortgage deal for your needs.

When it comes to your deposit, we typically find that most high street lenders require a minimum of 5% of the property purchase price. However, if you are able to put down a larger deposit, such as between 10-25% of the purchase price, you may be able to access a wider range of favourable mortgage options.

We will take the time to explain the different mortgage options available to you and help you compare the different interest rates, fees and repayment plans. We can also talk you through the various government schemes that are in place to help first time buyers.

If you are a first time buyer in Peterborough looking for a mortgage, we are here to help. Get in touch today to start the process of finding the right mortgage for you.

For first time buyers, there are many advantages to seeking help from a mortgage broker in Peterborough. Our experienced team can search through thousands of deals to find a mortgage that is suitable for your financial situation. This is something that a bank is unable to do, as they will only provide you with their own products.

In the past, approaching a bank was the more popular route for first time buyers, now this isn’t the case as these buyers are becoming more aware of brokers and that they can help them find the most appropriate mortgage product, often saving them time and money..

Our process is designed to make the mortgage application process quick and easy, and also aims to save you money. We are proud to work with a wide panel of mortgage lenders to provide the tailored, personal service that is needed when finding a first time buyer mortgage product for you.

As a mortgage broker in Peterborough, we understand how daunting it can be for first time buyers to navigate the mortgage market. If you are a first time buyer in Peterborough and are struggling to save for a mortgage deposit, we would recommend taking a look over the available government schemes. These can help buyers like yourself get a foot onto the property ladder.

The Right to Buy Scheme is an especially helpful option for those who are renting their homes. This scheme gives you the right to purchase your rental property at a discounted price from your landlord. To be eligible, you must contact your local council and confirm that you qualify.

If you are a first time buyer in Peterborough with a low deposit, you may be eligible for the Shared Ownership scheme, which allows you to purchase a share of a property and pay rent on the remaining share.

There are many more government schemes available to you as a first time buyer in Peterborough; to take a look at the complete list, look at OwnYourHome.gov.uk.