Mortgages for First Time Buyers

We pride ourselves in being able to unravel the complexities associated with House Purchase, and make the entire process as simple as possible.

When looking for a mortgage there are several factors that will determine how much a lender will be prepared to lend, such as:

Income

Outgoings

Occupation

Deposit

Bank Loans

Credit History

“Just wanted to say thank you for all your hard work and support. I know that without you, I would not have got that mortgage and I am so grateful to you. The relief is amazing.”
‍
L DRUMMOND, STONEHAVEN

FAQs

I'm not sure if I qualify for a mortgage, can you help?

By sitting down with a financial advisor, we'll be able to guide you through your options. Common reasons why lenders reject mortgage applicants are unpaid phone contracts, pay day loans, or if you have been self employed for less than 3 years.

What other costs should I expect?

The most common additional costs for first time buyers are solicitor fees, arrangement fees, and moving fees.

Is there a way to improve my chances of being accepted for a mortgage?

By managing your debt well. We highly recommend that you do not take out any pay day loans, and when you terminate a phone contract early, you should personally ensure that you have paid off any outstanding balance. Other factors lenders will look at is if you consistently use a gambling app (even if it's for £10 bets or less), and if you have applied for credit in the run up to your mortgage application.

Can I get a mortgage if I’m self employed?

Yes, but depending on the lender and the product you're looking for, different criteria will apply. As a rule of thumb, most lenders will require 3 years of accounts however there are occasions where 1 years accounts and a reference from an accountant confirming that business is steady, can be enough.

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We’re really easy to deal with and have helped 1000’s of people all over Scotland get a better deal.

Mortgages for first time buyers

Find the perfect Mortgage tailored to fit your individual circumstances.

We pride ourselves in being able to unravel the complexities associated with House Purchase, and make the entire process as simple as possible.

FAQs

I'm not sure if I qualify for a mortgage, can you help?

What other costs should I expect?

Is there a way to improve my chances of being accepted for a mortgage?

Can I get a mortgage if I’m self employed?

Get in touch to see how we can help

or call us now