We are whole-of-market brokers which means we have access to 100s of products and lenders. This means we can explore a wider range of deals that may be better suited to you and result in you saving money. If you go with your bank, you will be restricted to the products they have on offer. We shop around for you to help you get the best deal.

A deposit is a down payment you put towards the cost of a property you want to purchase. The higher your deposit, the less you will need to borrow. A larger deposit can also allow you to access better deals and have lower monthly repayments.

For example, if you wanted to buy a house for £300,000 and had a deposit of £30,000 (10%) your mortgage provider will lend you the remaining £270,000 (90%) of the purchase price. This is known as the Loan-to-Value (LTV). The remaining figure of £270,000 is the amount you will pay back across monthly instalments, until it is paid off in full.

The amount of mortgage you can get depends on your income. As a rough guide, a typical multiple is four times your income. This figure could be higher or lower depending upon your individual circumstances and different lenders’ criteria. Some lenders do not use income multiples at all and will lend based on affordability.

Once you add to this the amount that you can afford to pay as a deposit, you have the amount you can pay for your first property. Some lenders offer very good deals for first time buyers, so it always worth asking us to research the market on your behalf.

Consultation with adviser: We will assess your circumstances to find the right mortgage for you.
Protection conversation: An essential not an extra, to ensure you are covered in the event of death, critical illness, or loss of income.
Decision/Agreement in principle: Following documentation checks, basic personal details will be submitted to the lender to see if you meet their criteria. A European Standardised Information Sheet or Key Facts Illustration will be provided detailing everything you need to know about a particular product.
Credit searches/application: The mortgage application can now be submitted to the lender who will undertake their own checks before approving the mortgage lending.
Valuation: You will need to pay for a valuation which enables the lender to check the value of the property. You should also consider appointing your own surveyor for a more in-depth survey to satisfy yourself that you are comfortable with the condition of the property.
Offer: Provided the lender is satisfied with the valuation, they will then issue a mortgage offer.
Legal work: The solicitor/conveyancer will then complete the searches and other aspects of legal work required in order to exchange contracts on the property purchase.
Exchange of contracts: At this point you will pay the agreed deposit and you are now legally committed to purchasing the property.
Payments: The solicitor will finalise all mortgage arrangements and agree a completion date. Other costs to be taken into consideration alongside the cost of the legal work undertaken will be land registry fees and potential stamp duty fees.
Completion: Funds are transferred by the mortgage lender to the solicitor and the purchase is completed. It’s now time to pick up the keys!

Stamp duty: Charged on UK land and property transactions. Stamp duty is calculated at different rates, with thresholds for different property types and transaction values. There are different rules if you are buying your first home. You can access stamp duty relief which means you pay less or no tax.

Legal Fees: For any purchase you will need a solicitor to complete all the legal work. The fee for this service can vary, but generally costs between £500 - £1200 +VAT.

Survey / Valuation Fee: All lenders will insist that a valuation is carried out on a property. The applicant pays for this but it is only for the benefit of the lender to check the property is suitable security for the amount they are lending. Valuation fees typically cost between £400 and £600 and will be confirmed by the lender.

Even if you aren't planning on moving forward today, laying the groundwork with our team can be a helpful preliminary step to answer any questions you have and to advise you on your next moves. It can be very helpful to obtain a mortgage in principle, for example, before going to view houses as this will show the seller that you have the funds to purchase and are a serious candidate.

Our First Home Pack will help you answer every question you have about purchasing your first home. The First Time Buyer Guide, written by Kevin, offers a comprehensive overview of moving onto the property ladder. You will also secure a free consultation call with Kevin, where you will be able to get expert guidance on how to move forward with your mortgage.