Money Outlet

Buying your first home is one of the most important and likewise stressful decisions you’ll have to make. Getting a foothold on the property ladder is an exciting time and there are a few important steps you need to take first.

Get your Free, No Obligation first time buyer mortgage by comparing 1,000s of mortgage products and lenders throughout the UK. It takes less than 2 minutes to be on your way to finding the perfect deal. Apply Now.

Over the past few years property prices have sky-rocketed leaving many Britons simply unable to cope with finding a mortgage, coming up with a deposit, locating an affordable home, budgeting for the expenses associated with a new mortgage and so on. However, there is still plenty of hope.

For your free quote simply fill in your requirements above and we’ll search the Whole of Market for the best First Time Buyer Mortgages to suit your needs. You’ll receive free advice from a qualified mortgage broker who will scan the ‘Whole of Market’ based on your circumstances and provide you with a key-facts illustration to get you on track as quickly as possible. Apply Now

A quick guide for First Time Buyers

• Deposit: Most lenders require a deposit from first time buyers. This is usually between 5 and 10% of the purchase price. There are lenders who offer 100% mortgages, which require no deposit, however they may charge you a higher lending fee for this type of mortgage.
• Surveyor’s Fee: Lender’s require a survey from a qualified surveyor. They often times appoint their own and you will need to factor in this fee.
• Stamp Duty: This fee ranges from 1 to 4% percent depending on the property value. Any property over £125,000 (except in certain situations) will require a 1% Stamp Duty Tax.
• Legal Fees: You will have to pay a solicitor or conveyancer for any legal fees, land registry fees, local authority searches, etc. Speak with your solicitor to discuss all that’s involved including costs.
• Monthly Costs: You will need to budget for your basic costs on a monthly basis such as mortgage payments, life insurance, building and contents insurance, council tax, utility bills, telephone, television license, etc.

It can feel intimidating when you first begin the process of buying your first home however, many of these fees are only required once, unless you remortgage in the future. It’s recommended to seek out the advice of an FSA registered mortgage broker to help guide you with these important steps. In addition, a broker can access the Whole of Market and as intermediaries are often able to find deals not available directly to the public.

Here at the MoneyOutlet we work with a vast network of FSA regulated mortgage brokers with special access to banks, building societies, and adverse credit lenders. Worried about having bad credit? Self employed with no accounts? We can help! We cater to all credit types and will connect you with CeMAP certified brokers eager to help you find the best mortgages available. You safely and securely provide your requirements in the form above and we immediately begin searching over 8,000 low rate mortgages. You’ll receive your free, no obligation quote without a credit check (important!).

Why not see how we can help you today? Use www.moneyoutlet.co.uk to search and compare online and help find you the best available mortgage loans in today’s market no matter your credit status.