First time buyers
Make purchasing your first home easy with Wise mortgage advice
Why speak to a professional mortgage consultant when preparing to buy your first home?
You are probably here because you want to take the exciting first step on the housing ladder, and feel the freedom of owning your own home for the first time!
Finding a reputable company to give you advice on your first time buyer mortgage should be at the top of your list of priorities, but you might be wondering how to prepare for the conversation and what questions to ask.
Let’s dive into it!
Frequently Asked Questions
Here are some common questions we have been asked by first-time buyers many hundreds of times:
Earlier in the process is advisable, even if you don’t yet have a deposit, because it is not always essential you have a deposit to buy your first home. We recommend you do have some money saved for necessary professional fees, including for your mortgage adviser and solicitor/conveyancer, however, there are options out there for someone who doesn’t yet have a 5% or 10% deposit, even including a no deposit mortgage.
Very straightforward! A mortgage broker is a mortgage advisor, but some mortgage advisors can only offer solutions from one provider, like someone who works directly for a high street bank. Mortgage brokers can often have access dozens of lenders. They’re useful people to know, to get the ins and outs and tips on how to get ready for making an offer on your first property!
Firstly, the conversation is about you, so if you have any burning questions, there is no harm in booking a call with a broker to ask the questions you want the answers to the most. They will want to know more about you and your plans, so they can suggest sensible steps to prepare you for your first mortgage. Importantly, the broker will want to give you the confidence to go and view some properties, and make sure you can borrow enough based on your income and expenditure.
No, not a penny. They want to be helpful and provide valuable mortgage advice, so that you feel comfortable returning when the time is right, and once you have found the one you want to buy!
Absolutely, but be careful, because it’s worth ensuring you know all of your options and limitations before you fall in love with your first home, which unfortunately could be out of reach for your very first purchase.
Usually, a mortgage broker will be more than happy to give you 30-45 minutes, but if your income and situation are very straightforward, you might only need 20 minutes with them to get the green light to go house hunting and begin your mortgage experience!
This is the perfect place to start when viewing properties for the first time because you can show the agreement in principle certificate to the estate agent. They will then let the seller know you are serious about buying and will take any offers you make seriously! Most estate agents want you to have a certificate to hand before they agree to take you to any viewing!
Find out how Wise can help you get on the property ladder
If you would like to have a fee-free no-obligation chat with us, contact Wise, and a friendly adviser will ensure you are ready to go and start looking at properties, with all the necessary information and confidence you need.
