Mortgages for First Time Buyer

Looking for a first-time buyer mortgage? Look no further than Helen Ferneyhough Associates! We’re here to take the stress out of your home-buying journey, no matter where you’re located in the UK. We’ll even arrange your Mortgage in Principle so you can prove to estate agents that you’re a serious buyer.

Contact us today by phone, email, or contact form to schedule an initial consultation in person at our Wigan office or virtually. 

From answering your mortgage questions to recommending protection, we’re here every step of the way. Choose Helen Ferneyhough Associates for the best possible start to your journey as a homeowner!

Our mortgage advisers can search for the right mortgage for your individual needs, reviewing products and lenders on our comprehensive panel. When buying a house for the first time, several documents are required. These documents include bank statements, proof of identity and residency, credit checks, and payslips. 

Speak to our Mortgage Advisers

Complete the form below with your contact details and we’ll get back to you as soon as possible or call 01942 311555.

Our advisers will guide you through all the costs of purchasing a property, such as lender charges, solicitors fees, and government taxes. Trust us to break down all of these costs and help you calculate borrowing amounts and monthly costs.

Your details will only be used to answer your query and they will not be stored for marketing purposes.

How our Mortgage Advisers can help you



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What our clients say...

First Time Buyer FAQs

The amount of deposit required for a first-time buyer mortgage can vary depending on the lender and the type of mortgage product. However, most first-time buyer mortgages require a deposit of at least 5% of the property’s purchase price. The larger the deposit you can provide, the better the mortgage deal you can secure.

There are several types of first-time buyer mortgages available, including fixed-rate mortgages, variable-rate mortgages, and government-backed schemes such as Help to Buy. Each type of mortgage has its own benefits and drawbacks, and it’s essential to consider your personal circumstances when choosing the right option for you.

A mortgage in principle, also known as a decision in principle or an agreement in principle, is a written estimate from a mortgage lender that states how much money they would be willing to lend you if you were to apply for a mortgage. It is not a formal mortgage offer but rather an indication of the maximum amount you can borrow based on your income, credit score, and other financial details.

There are several government-backed schemes designed to help first-time buyers, such as Help to Buy. These schemes can provide financial assistance with your deposit or reduce your mortgage repayments.

Lenders generally want to see at least six months of positive credit history before approving a loan or credit application. This allows them to assess your financial habits and determine whether you are a responsible borrower. However, some lenders may require longer periods of positive credit history, such as 12 months or more, depending on their specific lending criteria. It’s important to maintain a good credit history by paying your bills on time, keeping your credit utilisation low, and avoiding applying for multiple loans or credit products within a short period of time.

You don’t need a solicitor just yet! When you are buying a property, it’s recommended that you first find a mortgage lender and secure a mortgage in principle before hiring a solicitor.

Having a mortgage, in principle, will give you a clear idea of how much money you can borrow and what kind of properties you can realistically afford. Once you have your mortgage offer, you can then move forward with finding a solicitor or conveyancer to handle the legal aspects of the purchase.

However, it’s important to note that you can start researching solicitors or conveyancers early in the process to ensure you find one that suits your needs and budget. You can seek recommendations from friends or family members who have recently purchased a property or search for qualified professionals online. It’s important to choose a solicitor or conveyancer who is experienced in property law and can handle the legal aspects of your purchase efficiently.