Buying your first home can be a daunting time, but don’t make it more stressful than it needs to be. Stricter lending criteria and the misunderstanding surrounding payment structures for independent professionals means securing a First Time Buyer Mortgage in your situation can often feel impossible.
At CMME, we believe taking your first step on the property ladder should be an exciting and joyous time, which is why one of our experienced mortgage consultants will provide you with straightforward, clear advice that will help you understand the entire home buying process, to ensure you understand everything before moving forward.
For the majority, buying your first home will most likely be the largest financial commitment you will ever make. Naturally, you’re going to have a hundred questions, how much can you borrow, what deposit do you need, what type of mortgage should you get? And we have answers. We’ve asked our experts everything you might want to know.
Deposits can range from as little as 5% but it is worth noting the more you can put down, the lower your interest rate is expected to be. Once you have saved your required deposit you can use our calculators to see how much lenders will be willing to lend, and an indication of how much your monthly repayments will be. It is important to assess these calculations and decide whether borrowing this amount is realistic and if you will be able to make your repayments comfortably.
CMME want to ensure that getting your first mortgage and your first home to be as easy and accessible as possible, check out our Jargon Buster for a glossary of mortgage terms you might need to know.