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First Time Buyers
Buying your first house or flat is an exciting proposition. Whether you're
moving out of the family home for the first time, or out of rented
accommodation, it's likely to be your first opportunity to do things
exactly as you want. However, for the majority of first-time buyers there
is one last hurdle to get over before you can relax in your new home -
finding a first time buyer mortgage.
Before you start looking in the estate agents' windows you need to get an
idea of how much you have to spend, the buying process and the associated
purchasing costs. Arrange an appointment with one of our mortgage advisers
and we will explore your options, researching the products throughout the
whole of market to find the deal which best services your current
situation.
If you have found the property you want to buy, we could apply for an
‘agreement in principle’ on your behalf. This is an agreement given by a
lender which sets out the provisional amount you could borrow based on
your personal circumstances, although the final amount offered may be less
than that appearing in the agreement. While not an actual mortgage offer,
it is an indication that you will be able to get a mortgage, provided of
course that the lender is satisfied with a) the choice of property you
finally make, and b) your status as prospective borrower(s).
Having this agreement in principle before you go house hunting could be an
advantage – a seller may be more likely to accept your offer if you have
already obtained evidence relating to the amount you could borrow.
During the review process, our mortgage adviser will clearly explain all
associated purchasing costs and the implications associated with owning
your own home, such as the potential increase in monthly expenditure. Due
to our years of experience within the industry, we could also help you
through the various stages of the buying process.
Apart from your mortgage adviser, we have a team of qualified support
staff based at our Newport Office who are there to help you. Whenever
our office is open, we guarantee that there will always be someone to
speak to you, to help with any queries or concerns. We know from
experience how many mortgage and property related queries may crop up on
the road to completion of a mortgage!
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