Whether you have a deposit or not, we can help you through the mortgage maze for the first time!

First Time Buyers may be offerred exclusive packages which may include:

Free Valuations
Cashbacks
No Arrangement fees
100% Mortgages

"I am buying for the first time, do I need a deposit?"

No. 100% (and 100% plus) mortgages can be arranged for you. This means that you do not require to pay a deposit of any kind. Furthermore, many lenders will allow you to add legal fees and stamp duty to your loan. You should always remember that by adding monies to your loan, you are increasing the loan you have to repay. However, 100% loans offer home pucrhase to those who would rather use their savings for home improvments or to repay debts, for example.

" I have a deposit to put down, what difference does this make?"

The bigger deposit, the lower amount you need to borrow, and quite often the lower the interest rate you wil pay. There are four key levels for deposit:

1. 0% - no deposit, as above

2. The minimum level of 5% (sometimes 3%). Normally, this will incur a Mortgage Indemnity Fee (this is a one-off charge levied by the lender, with which they purchase an insurance policy in case you default on the loan), which can be added to you loan.

3. At 10%, the Mortgage Indemnity Fee is normally waived (although it is still levied, most lenders pay this for you). Also, the interest rate charge can be lower than at 95%.

4. A 25% deposit normally means that you get a better rate still, and there is normally no Mortgage Indemnity Fee payable.

Interested?

Why not complete the enquiry form to obtain a NO OBLIGATION personalised quote?