First Time Buyer Mortgage
First Time Buyer Mortgage
Let’s make your homeownership journey smooth, smart, and successful.
We charge a fee for our services. Your home may be repossessed if you do not keep up repayments on your mortgage.
First-Time Buyers: Making Your First Move Simple
Buying your first home is an exciting milestone—but it can also feel overwhelming, especially when it comes to choosing the right mortgage. With so many options and factors to consider, it’s not always easy to know where to start.
At First4Mortgages in Essex, we’re here to guide you through every step of the journey. From helping you understand how much you can borrow, right through to the moment you pick up the keys to your new home, we’re by your side to make the process smooth and stress-free.
We’ll break everything down clearly, answer your questions, and provide tailored advice that works for your circumstances—so you can move forward with confidence.
Key Steps to Buying Your First Home:
Step 1. Work out how much you can afford.
The amount of mortgage you can get depends on your income. Most lenders will assess what level of monthly payments you can afford after taking into account various personal and living expenses, also other factors such as existing loans and other credit commitments. This is called an affordability assessment. Exclusive products for First Time Buyers with increased borrowing capacity are available subject to meeting eligibility requirements. For a detailed analysis of how much you can borrow call us on 01702 340500 or use the call back request form provided.
Step 2. Obtain a Mortgage in Principle
Obtaining a mortgage agreement in principle means that you have your finances in place before you find a property you wish to buy. This will give you an accurate indication on the amount you can borrow and implies you are a more serious purchaser to the vendor. Contact our team who will be happy to obtain this for you. Terms apply.
Step 3. Choose your Home and Suitable Mortgage Product
This can be the hardest stage, but the most exciting. Once the price has been agreed, we will finalise your mortgage arrangements quickly as this will show your commitment to the vendor. Furthermore, we will discuss your insurance requirements at this stage to ensure these are all set up ready to protect you on completion of your mortgage.
Step 4. Instruct a Conveyancer
You will need to instruct a conveyancer who will act for you. Using someone who has been recommended to you is normally a good idea. If you need any guidance in finding a solicitor we will be pleased to help.
Step 5. Obtain Mortgage Offer
We will arrange for a valuation to be carried out at your property. The lender will assess this and underwrite your application. Once completed the lender will issue a formal mortgage offer and a copy sent to your conveyancer.
Step 6. Exchange of Contracts / Completion
Exchange of contracts is when you fully commit to your purchase and normally part with any deposit monies to secure the transaction. Completion will follow shortly after and you will enter your new home!
Calculators
Your home may be repossessed if you do not keep up repayments on your mortgage
The use of this calculator is intended for information purposes only and should not be taken as advice