First Time Buyers

Buying your first home can seem stressful and even overwhelming. There is so much much information coming your way.

We can make the process of getting a mortgage hassle-free and support and guide you through your entire journey from making an initial enquiry to getting your mortgage approved to collecting the keys to your first home.

Here are some key areas we can help you:

  • Accurately establishing how much you could borrow.

  • Getting a suitable agreement in principle in place for you.

  • Accurately establishing your realistic purchase price budget.

  • Establishing a suitable deposit amount.

  • Getting an indicative idea of what your monthly mortgage repayments will be. 

  • Clearly and concisely talking you through the step by step process of buying your home.

  • Finding the most suitable interest rate for you from the whole of market.

Call us on 07907976127
Email us on david.b@ballardassociates.co.uk

Roadmap to buying your first home

1) Speak to a mortgage adviser as early as possible.

Before you start browsing properties, it’s important to understand key information such as :

  • Whether you can get a mortgage

  • How much you can borrow -

    get an agreement in principle (AIP) in place

  • What your monthly repayments might look like

This information gives you clarity and prevents you from the disappointment of looking at homes that may be outside your realistic budget.

2) Once you understand your borrowing capacity, you can begin taking practical steps towards your goal of owning your own home. This includes:

  • Building your deposit

  • Reviewing your credit profile

  • Understanding additional costs such as stamp

    duty, legal fees and surveys

The earlier you do this, the better position you’ll be in when the right property comes along.

3) With your target deposit saved and your AIP in place you are now ready to start viewing properties. When you find a property you love and your offer is accepted, the process moves forward quickly. At this stage, you will typically:

  • Formalise your mortgage application with your

    mortgage adviser

  • Provide documentation

  • such as payslips and bank statements to support your mortgage application

  • Find a solicitor to begin the legal work involved in buying a property

4) With your mortgage application now submitted and your solicitors working in the background you are on the lat stretch to owning your own home:

  • Wait for your mortgage application to be

    approved and receive your mortgage offer

  • This may be a sensible time to discuss your

    protection needs with your mortgage adviser

    such as life and critical illness cover and home insurance

  • Your solicitors will discuss with you an exchange and completion date to work towards

  • You reach your completion date and collect the keys to your own home……..congratulations you’ve made it!