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First Time Buyer

Being new to the mortgage market can be daunting, especially if you are a first time home buyer. As you take on the biggest financial commitment you will ever undertake, ensuring that you find the best mortgage deal for you is crucial.

Over the past few years, the property market has been moving very fast and has led to significant increases in property prices. This has made it very difficult for many people to afford to buy a home. This is a problem particularly faced by first time buyers, as although they may be able to raise a mortgage, this will often fall far short of the cost of a property. This process has reversed recently with property prices falling steadily. This is a good warning that you cannot rely on your property rising in value

Getting on the ladder

It is, however, still possible for first time buyers to get onto the property ladder and there are actually some advantages to being a first time buyer:

  • interest rates are at their lowest for more than 30 years
  • first time buyers are more appealing to sellers because they are not in a chain (that is they are not part of a long list of people all dependent on each sale in a chain going through on time)
  • first time buyers are much sought after by mortgage lenders.


Next Time Buyer

If you are thinking of moving home, it is not just a matter of finding the right property, you need to consider your mortgage arrangements and what type of mortgage would be the best for you in your new home.




VouchedFor rating and reviews for Colin Warburton, IFA BRIGHTON