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First Time Buyer Mortgage Advisors

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Mortgage360 are here to help you make the right choice.

Here at Mortgage360 we pride ourselves on offering tailored advice, coupled with great service. We are mortgage experts, so you can rest assured that you are in safe hands when searching for your new mortgage, whatever your situation may be.

Key Benefits

We are committed to guiding you through one of life's most significant financial decisions.

When it comes to securing the right mortgage, our expert team is here to ensure that you make informed choices tailored to your unique needs.

As well as mainstream mortgages, we also look at Shared Ownership Mortgages, Family Assist Mortgages and Joint Borrower, Sole Proprietor Mortgages to give you a few other options.
We can help you through every stage of the house buying process, from mortgages and insurance to surveys and solicitors.
We are a specialist mortgage adviser – we understand the individual requirements of our first time buyer clients.

Making the decision to own your own home is both a challenging move and a dream for people entering the property market for the first time. As a first time buyer, there are lots of obstacles to overcome when getting a mortgage, from affordability checks through to building a suitable deposit size and rising house prices.

At Mortgage360 in our capacity as first time buyer mortgage advisor, we’ll be with you every step of the way of your home-buying journey, guiding you through the process.

We’ll make sure you know what lenders look for when they’re making credit decisions, and help you understand how potential lenders will assess you. We know the processes and the pitfalls, and we’ll be by your side throughout the journey.

Why do I need a mortgage broker?

First time buyers have most to gain from professional mortgage advice, as your first application for a mortgage is almost always more challenging, and it’s all new to you. Choosing an impartial mortgage advisor is an important step, as they can access a comprehensive range of lenders, which is representative of the whole of the market, rather than a ‘tied’ advisor who will be restricted to certain lenders.

By using an impartial broker, you will have access to unbiased advice to ensure that your needs are prioritised over the lenders’ profits.

Mortgage brokers will understand the different types of first time buyer mortgages available through different lenders. They can search the market on your behalf and find the best deals to suit your individual circumstances. At Mortgage360, we get to know your preferences and help you save time and money, working to ensure that the deal we secure is the best value and the right one for you.

What can Mortgage360 do for me?

We’re dedicated mortgage specialists. We can increase your chances of securing a mortgage, alongside ensuring we find precisely the right deal for you. We’ll take time to explain what the different types of mortgages are to make sure you make the right decisions.

We’ll help you to understand how much you will be able to borrow for a first time buyer mortgage, and help you to prepare for your mortgage application early to optimise your chances of success. We aim to save you money and ensure that the mortgage application is successful.

Once you have found a property you would like to buy, we will help you from start to finish, liaising with estate agents, solicitors, and surveyors as required to make sure the entire process is streamlined and hassle-free for you.

How does the house buying process work?

We always recommend first time buyers get a Mortgage Agreement in Principle first – even before they start looking at houses. This puts you in a prime position when you find your home and already have your finances in place. So we’ll work with you to get the Mortgage Agreement in Principle, and we won’t charge you anything at all for getting you to this point.

Then the steps are as follows:

  • Find your new home
  • Make an offer and get this agreed
  • Finalise your mortgage application
  • Instruct a conveyancer (the legal process to transfer property ownership)
  • Organise surveys/valuations
  • Pay your deposit
  • Exchange contracts
  • Agree on a completion date
  • Complete your purchase

Mortgage360 will help you through every stage of the process.

How does the mortgage application process work?

It’s always best to make sure you’re credit-ready. Lenders will look at your credit rating and financial situation. They will look closely at what you earn and your outgoings to check if you can afford the monthly repayments.

  • Pre-Application stage – make sure you are in the right financial position to apply for a mortgage
  • Initial Application – get all your documents together for your mortgage appointment to simplify the process.
  • Affordability Checks – evidence that you can cover your monthly mortgage repayments alongside other bills and outgoings
  • Valuation – usually arranged by your lender, to check the property is suitable security for the mortgage you’ve applied for
  • Formal mortgage offer
  • Completion

Mortgage Fees for First Time Buyers

Common mortgage costs include product fees, which are the amount you pay for setting up your mortgage deal with your lender. This sum, which will vary from lender to lender, can sometimes be included as part of the total amount borrowed.

You may also pay a valuation fee to cover the cost of valuing the property you’re buying (mortgage valuation) to ensure it represents adequate security for the loan. This is a major investment, and you will almost certainly want to arrange a professional property survey to check on the condition of the property. Typical survey fees range from £300 to £1,500, dependent upon the detail of the survey and value of the property.

You will pay a fee to your advisor or mortgage broker, which will usually be a flat fee. You will also pay the conveyancer who handles the legal transfer of property ownership and all the legal paperwork. The good news on Stamp Duty – if you’re a first time buyer in England and Northern Ireland, you don’t have to pay Stamp Duty on the first £425,000 of a property’s purchase price. You will also pay a Land Registry Fee to change legal ownership of the house to your name on the Land Registry record.

Do Mortgage360 get exclusive rates from mortgage lenders for First Time Buyers?

We know the market, and we’re always aware of mortgage rates, special offers, benefits and the better mortgage deals that are available from time to time. We’re committed to securing the right deal for you. This covers repayment mortgages, interest only mortgages and fixed rate mortgages.

What kind of mortgage deposit does a First Time Buyer need?

Generally speaking, you’ll need a deposit of at least 5% for a mortgage in the UK, with most lenders. So you’ll pay 5% of the property’s value, and your mortgage lender will loan you the remaining 95%. The government’s Mortgage Guarantee Scheme, which helps people with 5% deposits onto the property ladder, has now been extended to December 2023. Under this scheme, the government offers lenders financial guarantees to provide mortgages that cover the other 95%. It is subject to the usual affordability checks regarding monthly payments.

It is possible to find a 100% mortgage as a first time buyer, but this will usually be a different type of product, such as a guarantor mortgage or a family deposit mortgage, requiring support from a family member.

100% mortgages for First Time Buyers

The market is now seeing new products arriving for first time buyers from high street banks in the shape of no deposit mortgages or track record mortgages. This means you initially have no equity and own none of the property’s value. These mortgages are subject to the usual affordability criteria, credit history and credit checks.

As a new product on the market, the offer is expected to develop further over the next year. At Mortgage360, we’re keeping a close eye on how lenders respond to the new challenges to identify the best opportunities for our clients.

How much will a First Time Buyer be able to borrow?

Lenders will usually agree to lend between 4 and 4.5 times your annual salary. Some offer a multiple of 5 to 6 times, subject to overall affordability checks. The important thing is to be confident you can cover your monthly mortgage payments. Loan To Value (LTV) ratio also comes in here. As an example, if you have a £180,000 mortgage on a £200,000 house, your LTV ratio is 90%.

What do I do next?

Just give us a call, drop us an email or complete the form to get the home buying conversation and the mortgage process going!

First Time Buyer Mortgage Advisors

Here at Mortgage360, we can provide expert advice on all your mortgage and insurance needs.

Whether you’re ready to get started on your journey now, or you’d just like a no obligation consultation, we’d love to hear from you…

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There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, however we estimate this to be between £200 and £600.


See what our clients are saying....

Zoe Cameron
September 28, 2023

Great service from Mortgage360, following a recommendation from my financial advisor. They efficiently went through our criteria and found the best mortgage to suit our needs. Their comms are great, they kept me fully informed throughout. Thank you Gavin and Matt.

Barnaby Fox
September 14, 2023

Gavin/the team was extremely efficient and communicative through the whole process, resulting in getting a mortgage at a great rate.

Richard Fryer
June 30, 2023

After working with Matt from Mortgage 360 previously on our first mortgage he shows excellent customer service and caters for the needs of the client. Couldn’t be happier working with Mortgage 360 especially in the current climate as the business answers all the questions asked and takes the customers best interests into account.

Samia Umarq
May 15, 2023

Gav arranged my mortgage he was great throughout the process keeping informed, very friendly and knowledgeable highly recommend him.

R Virk
R Virk
May 10, 2023

Excellent service from Gavin Watson

I contacted Gavin Watson, as I was needing to remortgage my property quickly, as my previous fixed arrangement was due to end within weeks. Therefore, there was a sense of urgency on my part. I need not have worried as Gavin was very supportive and professional from the first contact to the completion of the new mortgage arrangement. He took the time to listen and explain all the options I had and guidance on the best option for my particular circumstance. Gavin ensured the remortgage was completed effectively and efficiently, not to mention, well within the timescale. If you are looking for a professional, who has the best interests at heart for his clients, then look no further. I highly recommend Gavin Watson, if you are in the market for a mortgage. Thank you so much Gavin for such an excellent service.

Angela Holder
Angela Holder
May 6, 2023

Great service from Matt for the second…

Great service from Matt for the second time. He was fast to give advice and extremely efficient in obtaining the best possible mortgage. The whole process was smooth and stress free.

Aiden palmer
Aiden palmer
May 4, 2023

Brilliant service!

Brilliant service!! Gavin has helped us so much to get our mortgage and we couldn’t have done it without him. We will definitely use him again in the future. Thankyou so much!

GALE Boyes
April 21, 2023

Absolutely amazing service from Matt can't thank him enough for securing our mortgage for our forever home considering our past credit history. Thankyou again Matt at pulsar. 100% recommend.

Jamie Chan
Jamie Chan
April 4, 2023

Matt continues to provide exceptional…

Matt continues to provide exceptional client services, and is very diligent in searching the market for the best deal. Highly recommended. Thanks, Jamie

Sue Alexander
Sue Alexander
March 16, 2023

I recommend Pulsar to everyone

I would recommend Pulsar to everyone. Gavin has been amazing helping me to buy my council house. As this is my first home purchase and I’m not young!! He made everything easy to understand and made the mortgage mind field easier to navigate, getting me the best deal. I know that ongoing support is there if and when I need it. Thank you Gavin x

David Ian
David Ian
March 3, 2023

Great service, friendly, prompt and professional personal recommendation led us to…

A personal recommendation led us to Pulsar F. S. Matthew Illingsworth was very helpful, prompt and supportive through the process of obtaining a bridging loan to purchase. The documentation explained our options and laid out the process clearly. Would full recommend to others.

Amanda Underhill
Amanda Underhill
February 27, 2023

Remortgage recommendation

Gavin has been absolutely amazing dealing with my remortgage. Professional but personable from the start, he has been able to secure the right mortgage for me and supported me through the process giving impartial advice and a range of options for me to consider. He’s provided timely support, and has been contactable to answer questions as needed - this has been exactly what I needed during a stressful time remortgaging during divorce negotiations. I’d highly recommend Pulsar Financial Services!

Affordability Calculator

Empower your mortgage decisions with ease. Utilise our versatile calculator to discover your borrowing potential and take the next step to secure your ideal home.

Stamp Duty Calculator

Take the guesswork out of your UK property purchase. Use our user-friendly calculator to instantly calculate your stamp duty costs and make informed financial decisions today!

Repayment Calculator

Plan your mortgage payments effortlessly. Access our efficient calculator to calculate your monthly mortgage repayments accurately and stay financially prepared for homeownership.