First Time Buyer Mortages

There are two parts to the process of getting a mortgage for buying your first home – the advice part and the application part. Get the advice part right and the application will be much easier.

The advice part involves discussing:

• How much you can borrow
• Calculating a realistic purchase budget
• Understanding your requirements
• Calculating how much you can afford each month
• Collating the documents required
• Understanding what lenders are looking for
• Making sure your credit history is OK
• Finding a suitable mortgage

At Alexandra Hamilton we are happy to help you through the advice process via e-mail, phone and in person. Often it is easier to start off with a phone call or e-mail and then find a good time to talk in person – at home, at the office or in a coffee bar.

Once we have answered your questions and collated everything necessary to make a mortgage application, then the application process should be much easier. We research the market for you based on your circumstances and requirements, and present you with one or more mortgage illustrations for the most suitable mortgage. Then we can make the application for you and deal direct with the lender on your behalf through to getting a mortgage offer and onto completing on your home purchase.

We are happy to take the time to answer all your questions. We pride ourselves in making sure you can make fully informed decisions about your mortgage and your property purchase. There’s a lot to deal with, but we aim to handle as much of the process as possible for you, so that you can get the mortgage you need to buy the home you want.

We look forward to providing you with a friendly and professional service.

Property Survey

If you are arranging a mortgage to purchase your new property the lender will instruct a surveyor to carry out a valuation to confirm the property will be acceptable as suitable security. This can typically cost between £250 – £450 but this figure may be higher – lower or free of charge depending on your purchase price, mortgage lender and the mortgage product chosen.

Your home /property may be repossessed if you do not keep up repayments on your mortgage.