Mortgages for first time home buyers

First time home buyer mortgages are for people who are new to the housing market. As a first time home buyer, this might seem like a fairly complicated process but The Mortgage Shop is here to help you. We help first-time home buyers select which mortgage is best for them.

Helping every step of the way

Completing your move

Finding the ideal solicitors and licensed conveyancers

At The Mortgage Shop, we are here to help you, explain and guide you through the process. We are completely independent of any lender so we will look at the whole market and find the best first time home buyer deal which suits your needs.

When you apply for a mortgage, lenders look at a number of things to work out how much you can borrow including earnings, outgoings, the value of the property you want to buy, your deposit and your credit history. We will help you through this, working through a budget planner to find you the best available deal that is right for you.

Once you have found the perfect home and had an offer accepted you will need to think about two things. An independent property survey is always a recommended step to make, and you will also need to contact a solicitor or licensed conveyancer to complete a property purchase.

You will need a solicitor to carry out the conveyancing on the property you want to buy. At The Mortgage Shop in Devon, we can assist you with selecting a reputable solicitor that will understand your requirements. They will confirm the legal costs and fees involved with your purchase.

On your behalf a solicitor will:

+ Exchange contracts

+ Request mortgage funds from your lender

+ Pay the remaining sum to purchase your new property

The solicitor will check the legal aspects of the purchase, which includes confirming the seller is the legal owner of the property and has the right to sell. Your solicitor will also normally proceed with the work required, at the same time as the arrangements for your mortgage.

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