Buying your first home is both an exciting and daunting experience. Here at Key Mortgages we will help you as a first time buyer to take your first step on the housing ladder by providing you with a local mortgage adviser and a dedicated client manager to guide you through every step of your home buying journey. Your mortgage adviser will help you calculate how much you can borrow, how much it will cost and walk you through the home buying process from your initial consultation right through to mortgage application. Your dedicated client manager will then be available every step of the way to completion and beyond. We even help fill in all the paperwork to ensure you have the best chance of being accepted and your application runs smoothly.
Key Mortgages first time buyer mortgage service is flexible, which gives you the power to choose how and when you deal with us. On email, phone, Zoom and Microsoft Teams, at our local Mapperley, Nottingham office or at our new branch at The Sparkhouse in Lincoln we are here to help and make the process as stress free as possible for you.
We will help you calculate exactly how much you can afford to borrow for your first home and ensure you can really afford it. We can also advise you on first home schemes which may be of interest and work out the affordability of a mortgage based on your individual circumstances.
Fixed or variable, repayment or interest-only, joint or single application - we can explain the different types of mortgage available to you and help identify what suits you best.
Key Mortgages will run you through all the costs of purchasing your first home so you won’t be hit by any hidden fees.
For a first time buyer mortgage you will typically need to provide proof of income, 3 months of bank statements, Your latest P60 tax form, proof of deposit and an SA302 tax form if you are self employed.
Individual factors will help you decide the length of your mortgage. For example, this could be based on your age at the end of the term, as most lenders will not allow you to go into your retirement period.
Yes, this is the minimum needed to get a first time buyer’s mortgage. However a bigger deposit will benefit your interest rates and monthly repayments. Your mortgage adviser will discuss in more detail and can then advise you of your options.