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First Time Buyer Mortgages in Southampton

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First time buyers in Southampton can typically get exclusive mortgages not available to other borrowers.

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.

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Don't forget to secure an Agreement in Principle prior to viewing houses in Southampton.

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.

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Popular First Time Buyer Mortgage FAQs in Southampton

Do I count as a first time buyer in Southampton?

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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.

What do I need to buy my first home in Southampton?

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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.

How much deposit do you need for a first time buyer mortgage in Southampton?

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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.

Is it better to get a mortgage from a bank or a mortgage broker in Southampton?

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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.

Are there any schemes to help first time buyers in Southampton get onto the property ladder?

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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.

8 Reasons to Choose Us For Mortgage Advice in Southampton

First time buyer mortgage advice in Southampton, 7 days a week.

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.

Yes, it's a free appointment with a mortgage advisor in Southampton!

No upfront fees, no-nonsense; give our team in Southampton a call today.

You'll work alongside your dedicated mortgage advisor and case manager in Southampton.

From start to finish, your case manager and mortgage advisor will be on hand to answer questions that you have along the way.

Customer service is at the heart of our company.

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.

Providing specialist insurance advice in Southampton.

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.

1000s of first time buyer mortgage deals you can access.

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.

Using all of our experience and knowledge to help you through your mortgage journey.

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!

As your mortgage broker in Southampton, we are here from start to finish.

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.

Our Customers Love Us

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We search 1000s of mortgage deals for first time buyers in Southampton

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