Don't forget your initial consultation is free and completely non obligatory. If you'd like make an appointment to speak to our advisor. Please contact us.
Buying your first home is exciting but the path to owning your own front door can be paved with disappointment and frustration if you’re not supported by the right professionals. Ask About Mortgages care about first time buyers, we want your first home to be a happy one. We’ll help ensure your investment is a sound one, that your mortgage repayments are manageable and that you’re left with enough money at the end of the month to have a life and a home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
How much you can borrow is no longer solely dependent on how much you earn but on how much each individual lender believes you can afford, when taking into account both your lifestyle and expenditure.
Every single lender that we work with (banks, building societies and specialist lenders) will only lend you what they believe you can afford to pay back every month by way of mortgage repayments. Different lenders will assess ‘affordability’ differently – our advisors will help you to work-out what each lender would lend you by accounting for your monthly outgoings against your monthly income. We’ll need evidence of what you earn, so wage slips and any other regular income documents, we’ll then go through your outgoings with you, loans and credit card payments, bills etc. Once we’ve gone through all of this we can work with the lenders to see how much each of them would be prepared to lend you.
The amount of deposit that you will need is at least 5% but generally the larger your deposit the better the deal that you will get. So if you put down 10% rather than 5% you are likely to get a lower interest rate on the money that you borrow – meaning that your monthly repayments will be lower. The amount that you repay every month can vary hugely dependent on what rate you borrow at.
Please make an appointment and we’ll go through everything with you – we’ll work out what you can borrow and what your monthly repayments will be based on the deposit that you have. We’ll give you our very best advice and help you to decide whether to go ahead with the deposit that you have or wait and save more.
A thoroughly professional service. Matt knew the market well in respect to our needs. Would thoroughly recommend.
We were really happy with the assistance Matthew gave us. He explained everything thoroughly and made the process as stress free as possible.
My advisor went above and beyond my expectations, leaving me feeling supported. Especially important as a first time buyer. He responded to my questions promptly and where required dealt with external agencies. Superb. Thank you
If you'd like Mortgage Advice to explore some mortgage options, have any questions about your suitability for a mortgage or would like to know how much you could borrow please make an appointment and we'll be happy chat through things with you. All initial mortgage consultations are free and there's absolutely no obligation to proceed. You can meet us here in Romsey or we can arrange to visit you at your home if that's more convenient.