First time buyers have not benefited from building up equity from previous home ownership, so they tend to require higher loan to value ratios. Lenders like low loan to value ratios (less risk), so first time buyers may experience difficulty obtaining a mortgage and unless they have a 30% deposit are unlikely to benefit from the cheapest mortgage deals.
Knowledge of mortgages, how they work and the application process is new to many first time buyers, so mortgage advice really is of the utmost importance. This site offers lots of information but the quickest way to get answers to questions is to call, call us on 0800 0337802 for a free mortgage appraisal.
If you’re not ready call, well that’s fine – please continue to browse, we’ll be here when you’re ready to find out more.