Mortgage Meadow / Mortgages / First Time Buyer mortgages

As a first-time buyer, it is very important that your first mortgage has both the right interest rate and mortgage term. At Mortgage Meadow our experts can search the whole mortgage market to ensure your first mortgage is the most suitable for your circumstances, so whether it is lthe lowest interest rate, the greatest flexibility or a combination of the two, our mortgage experts are here to ensure that we get the most suitable first time buyer mortgage  for you.

It is important as a first time buyer to be realistic when working out exactly how much you can afford to spend on your new house. This is in terms of both upfront and ongoing costs that are associated with home ownership. Most lenders will require you to put down a deposit and there are upfront fees that can include stamp duty, solicitor's fees and moving costs. Ongoing costs will include insurance, utilities such as gas and electricity, Council tax and a service charge if you have purchased a leasehold property. This all needs be to budgeted for.

In addition to the usual advice we give to all our customers, we would urge all first time buyers to consider the following:

When looking for any property, it is best to do your homework and research the local area that you intend to buy in. Ask yourself; what is the local transport like? What's the commute to work like? Commuting can be one of the biggest household expenses if property is more expensive nearer to your place of work, make sure you weigh up this additional expense, when compared to the costs and time of commuting.

Is the property in a high crime area, or in a flood risk area (both these points affect your insurance premiums or ability to obtain building insurance), is the property in the catchments area for good local schools? This may make the property more desirable upon re-sale. What are the local amenities? Are they what are important to you?

As buying a property is likely to be the biggest investment you are ever going to make we have created a very detailed help area to give you information on the whole house buying process including, what to consider, the process, the costs and the people Involved. We believe after reading our help area you will be in much more informed position of what to expect when buying your first home.

At Mortgage Meadow we have strong links with a large number of lenders putting you in a better position to secure a first time buyer mortgage than by you searching the market alone. We are experts so can find you the most suitable mortgage to fit your circumstances. We can talk through deals with the decision-makers in person and explain to them your situation. Having this relationship with lenders means that they can take an individual view on your particular circumstances and may be more likely to agree the loan as a result. For more information on first time buyer mortgages, please speak to one of our advisors now or use our online mortgage assistant to get a quote.

Your home may be repossessed if you do not keep up repayments on your mortgage.