Mortgage advice for First Time Buyers
Mortgage advice for First Time Buyers
My advice will help get you on to the property ladder, here’s how:
1. As a first-time buyer, you will no doubt want to discuss what a mortgage is, how the process works and who does what and why. In our initial conversation I can also work out your budget based on your earnings and outgoings, add in the deposit you have and give you a clear idea of what sort of price range you can look at. We will discuss your credit history, the pros and cons of houses versus flats, what type of valuation to book, and what to look for when choosing a solicitor and conveyancer.
2. Paperwork assistance. Once you have a clear understanding of the process I usually request things like proof of income, bank statements, a copy of your credit report so that I can provide you with a detailed overview of what the mortgage options look like and what they will cost. At MK Mortgages each client is treated as an individual and no client is pushed down a sales process that doesn’t suit them.
3. You can start your property search. As you now have a better idea of the costs and your budget you can commence viewing properties within your price range. I will arm you with a decision in principle at this stage so that the agents know you are serious and in a strong position to move forward with making your offer. I can also offer help with estate agent negotiations, leveraging my experience and knowledge of how the process works to get you a great deal on your home.
4. Now you have secured your property I will fully submit the application to the lender and secure your mortgage At this stage we can instruct the surveyor’s valuation and your solicitors.
5. Advice and introduction to mortgage insurance and protection
6. As a first-time buyer many things will seem unfamiliar, and you will have questions that need answers. I am always on hand to help you. Just get in touch for a no-fee conversation at any stage, and we can go over anything that you are unsure of.
How much will I be able to borrow?
The way a lender determines how much you can borrow on your first time buyer mortgage depends on a number of things:
There is now more focus on affordability and expenditure. The process to working out how much you can afford is very different to the traditional approach of simply multiplying your annual personal (or rental) income by a pre-set multiple to obtain a maximum lending amount.
What I do
I pride myself on being up to date with regulation, legislation and the economic market. I work to understand your needs, match that to the requirements of lenders, and protect you and your dependants once you have bought your property.
This way, I can help you save time and money in the new world of mortgage advice.
Contact MK Mortgages
Please use the contact form to get in touch. The earlier you start the process the better.
Marc Kavanagh is a non-fee charging, whole of market mortgage adviser, providing advice purely for your benefit.
I cannot recommend Marc and his team highly enough. They helped and supported me throughout the whole process of buying my first home and were always kind and professional.
Marc and Sooz made everything as simple as possible and went above and beyond to help. They were always there for guidance and to answer any questions, which was amazing as I was embarking on a process I had very limited knowledge about. I’m not sure I would have been able to do it without them!
E Brooks
Fantastic experience – Marc and Sooz have been outstanding from start to finish in helping guide me through the complex process of finding a suitable mortgage for a first-time buyer. Marc even helped guide me on what best/worst attributes to look out for when house hunting, and what kind of offers should be pitched to the vendors in the current market.
Other additional services such as mortgage cover were offered, but never pushed – which I appreciated.
Very easy to deal with and get in contact with when needed, professional at all times – Highly recommend MK Mortgages.
C Richards
Mortgage in Principle – Frequently Asked Questions
I’ve noticed a lot of people are asking some great questions about a Mortgage in Principle, so I thought I’d put them all in one place, to make it easier
First-time buyers are asking, ‘Should I wait until after the election to get a mortgage?’
In my experience impending general elections always throw a spanner in the works when it comes to deciding whether it’s the right time to buy a property. And buying your
