Taking your first step onto the property ladder? Our expert advisers will guide you through the entire process, from deposit to completion.
Buying your first home can seem daunting, but we're here to guide you through each step of the process.
Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.
Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.
With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.
Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.
Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.
Buying your first home can seem daunting, but we're here to guide you through each step of the process.
Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.
Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.
Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.
Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.
With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.
With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.
Once your offer is accepted, we will research to find the best deal and submit your application to the lender. We will liaise with your solicitor to help you in the mortgage process.
Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.
Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.
Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.
There are several government-backed schemes designed to help first-time buyers get onto the property ladder.
If you're aged between 18 and 40, the government could add a 25% boost to your savings (up to a maximum boost of £1,000 per year) until you're 50.
However there are very small number of building societies and banks that offer this.
This scheme gives tenants who rent from a council or local housing association the chance to buy the home they live in.
Significant discounts may be available based on how long you've been a tenant.
Available to people under 40 years old, this scheme aims to offer first-time buyers one of around 200,000 new homes priced 20% less than their market value.
These homes are built on brownfield sites specifically for first-time buyers.
Allows you to co-own a property with a landlord (typically a council or housing association).
You can buy between 25% and 75% of the property and pay rent on the remainder.
Lenders determine your borrowing capacity using income multiples, typically offering around 4-4.5 times your annual income (or joint income for couples). Beyond this initial calculation, they'll conduct a detailed affordability assessment reviewing:
A deposit serves two crucial purposes: demonstrating your financial discipline and reducing the lender's risk. Larger deposits typically secure more favourable interest rates.
Minimum requirements:
For the most advantageous mortgage terms, aim to save at least 10-15% of the property value.
Friends Capital have existing relationships with first time buyer mortgage lenders. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that is most appropriate to your personal circumstance. We can:
Our experienced mortgage advisers understand the challenges first-time buyers face and are dedicated to making your journey onto the property ladder as smooth as possible. We'll be with you every step of the way.
Our expert advisers are ready to guide you through the entire process, from saving for a deposit to getting the keys to your first home.
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