As a first time buyer in Southampton, you should expect to put down a minimum of a 5% deposit. Although this can vary depending on your credit score, affordability, etc. When you are buying your first home, you are avoiding being caught in a property chain (where a buyer is waiting for the seller to move out too). This can sometimes speed up your moving in process as you can use it as a bargaining tool whilst negotiating with the seller. For first time buyer mortgage advice in Southampton, feel free to 'get started' and book your free appointment online today.Get Started
An Agreement in Principle shows the seller that you are in a position to advance As an expert mortgage broker in Southampton, we have been able to help and support 1000's of first time buyers in getting the keys to their dream home. Book your free mortgage appointment online today to see how a mortgage advisor in Southampton can help you with your home-owning dreams.Apply Now
If you have never owned a home previously, you count as a first time buyer. Typically, the demographic for these types of mortgages are younger applicants. On the other hand, it is very normal for older applicants to still count as first time buyers. If you are a current homeowner that lives with their partner who qualifies as a first time buyer, you may be able to apply for a joint purchase under the first time buyer classification, Unusually, some lenders may put you into the first time buyer category if you haven't been in the market for a long time.
When purchasing your first home or any property in the future, you will need some sort of deposit. The deposit total that you will need is entirely dependent on the price of the property. For example, £210,000 property with 5% deposit = £10,500 deposit. We'll measure your affordability and eligibility in order to try and find you the perfect mortgage deal. We will also help you select a conveyancing solicitor to carry out the legal proceedings that come with buying a home.
If you are a first time buyer in Southampton with good credit, you would expect to be asked for a minimum of a 5% deposit. If you have bad credit, you may be asked to provide 10%-15%. If you are fortunate enough to receive a gifted deposit from your family members or friends, you could put that towards your deposit. A gifted deposit is simply a lump sum of cash gifted to the buyer to use towards a deposit. This is strictly a gift and not a loan that will need paying back. If you have good credit, putting down a higher deposit than suggested could open you up to more favourable interest rates. Your own deposit combined with a gifted deposit could stretch your deposit over the 10% mark.
As a mortgage broker in Southampton, we are not limited to our own in-house products like banks and building societies. Our team are able to search the market to try and find the best deal for you. Our large panel of lenders hold many high street and specialist deals that you may be able to access. Our mortgage advisors in Southampton are knowledgable and experienced in working with first time buyers in Southampton, they will be more than happy to help you through your journey too. We love first time buyers! Our service only benefits new and returning customers and helps them through their home buying process.
The government have many different schemes in place to help first time buyers get their foot on the property ladder. As a mortgage broker in Southampton, we have found that the most popular schemes are the Help to Buy Equity Loan and Shared Ownership. Our team can see whether you qualify for any of these schemes and whether they are the best option for you to take. Like the traditional mortgage process, we will measure your affordability, look at your income and ask for evidential documents to support your application. There are more schemes to discover by visiting the OwnYourHome website.
We work to fit your schedule. Book your first time buyer mortgage appointment at a date and time that best suits your personal and working life.
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From start to finish, your case manager and mortgage advisor will be on hand to answer questions that you have along the way.
We love the fact that we are able to help so many applicants achieve their home buying dreams. Take a look at our reviews to find out how others have valued their experience with us.
So that you and your family are covered, your mortgage advisor in Southampton will make sure that you have the correct insurance and protection in place.
As your first time buyer mortgage broker in Southampton, we will try and find you the perfect product that matches your personal and financial situation.
It's rare to find a situation that we haven't come across. Don't hesitate to get in touch, our mortgage team in Southampton are here to help!
We may encounter some hurdles along the way, but we love a good challenge! We will try our best to get you through the mortgage process, no matter what situation you are in as a first time buyer in Southampton.
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Excellent communication from start to finish. Highly recommend.
Very friendly and provided all the information I needed.
Very pleased with Allen’s professionalism , he was able to answer all my questions to my satisfaction
Excellent experience all around, used for two mortgages and will use again
Absolutely brilliant both Matt & Stacey. Really clear with us what our options were. Will use again when i need to find another mortgage.
Chloe and Tom were very helpful and informative throughout and very knowledgeable we would recommend UK moneyman to any first time buyers
I can’t thank or recommend these guys enough. Highly professional, helpful and friendly from the outset - very knowledgeable and great customer service.
Great company to work with, very helpful and always prompt to answer any queries.
Great service! Quick and trustworthy!
Excellent service from both Leo and Meghan who we feel went above and beyond to help us get our first mortgage, even when faced with some very unforeseen changes! They made the whole process extremely easy and understandable. We have already...
Excellent service from the team, were very informative throughout the process even when we had to swap the house we were purchasing resulting in a new mortgage application.
Excellent service from Wayne and Stacey. Wayne took time to explain everything and reran mortgage calc a number of times as my property search went on which was much appreciated. Stacey was also extremely helpful, informative and quick to respond to...
Incredibly helpful from start to finish, gave me all the information I needed and made the whole process much easier
Megan and Wayne have been great throughout. Both really easy to work with and on top of things at every step of the process. Thanks a lot.
Excellent service by Malcolm, Paula & Meghan. We completed our purchase last week in what was supposed to be a very difficult case due to my bad credit and limited trading history as a director of LTD company. UKmoneyman dug out a lender that...
Very good service received. Wayne is very knowledgeable and helpful especially with me been a first time buyer. Also very accommodating with timings and I was able to have chats later on a night to fit my schedule. Very supportive all the way...
So far so good ! The first point of contact was lovely, made me feel at ease and very knowledgeable.
Absolutely fantastic service from the start, in helping getting a mortgage. Charlie always replied to my messages as quickly as possible and was very clear, thorough and calming through the whole process, cutting out a lot of worries had I not used...
Great help from the team, helped find exactly what we were after, and was an easy straight forward process. Being self employed it can be tricky however there were no problems with the help and advice we received.