Mortgages for First time buyers
Buying your first home is something you are unlikely to forget, and it can be exciting and daunting all at the same time. At Derbyshire Mortgages and Protection, we want to make it as exciting and enjoyable as possible as this is something you have been working towards for a long time. You will only ever be a first-time buyer once in your like and the decisions you make now will decide a lot when it comes to your medium and long-term future.
See how much you can borrow
WE’RE READY TO HELP YOU BUY YOUR FIRST HOME
At Derbyshire Mortgages & Protection Ltd, we are here to support you in making informed decisions with clear advice and industry knowledge. We aim to reduce the stress so you can enjoy this important milestone.
Our team will guide you through what first-time buyers need to know and help you become “buyer ready”, putting you in a strong position when making offers.
We offer an initial consultation to understand your circumstances and provide advice that will not affect your credit score.
By submitting your details, you confirm that you have read and agree to our Privacy Policy.
FAQ
A first-time buyer mortgage is a home loan designed for people purchasing their first property. These mortgages may offer incentives such as lower deposit requirements or access to government schemes, but interest rates vary based on individual circumstances.
The deposit requirement can vary, but it’s typically around 5-20% of the property’s purchase price. Government schemes like Help to Buy can assist with smaller deposits.
There are several schemes, such as Help to Buy, Shared Ownership, and the First Homes scheme, aimed at helping First Time Buyers get on the property ladder. A mortgage advisor can explain these options.
Your credit score is crucial. A higher score can help you secure a better mortgage deal. If you have a low credit score, a mortgage advisor can offer advice on improving it.
Fixed-rate mortgages have a constant interest rate, while variable-rate mortgages can fluctuate. Mortgage advisors can help you choose the most suitable option based on your circumstances.