Top tips for first-time buyers

As an independent mortgage adviser, we understand that the whole mortgage process can be a little daunting, especially for first-time buyers. That’s why at Mosaic Mortgages, we will do what it takes to source you the best first time buyer mortgage, whilst advising you throughout the whole process.

We’ve listed a few steps on how to go about applying for a first time buyer mortgage.

Firstly, find out how much money you can actually borrow. Use our mortgage calculator and then our mortgage sourcing tool to get a general idea as to whether you will be able to afford the monthly mortgage payments.

The next step is to consider getting some expert help so that you can secure the best deal. Independent mortgage advice is the best way of finding a mortgage to suit your particular circumstances. All of your details and requirements can be taken into consideration before sourcing the entire mortgage market in search of a product that’s right for you.

Now that you know much you can borrow, you can decide on the area you would like to live according to your budget. Figure out what you really need in a property; are there sufficient amenities nearby? Is there a school? Is there access to main road networks?

Once you’ve figured out your wants and needs, you can begin the hunt for your perfect home. You should take this opportunity to view as many properties as you like so that you have plenty of choice.

If the property you’ve got your eye on reaches your budget then make ensure the properly isn’t in need of refurbishment, otherwise this will cost you even more money in the long run.

Once you’ve picked your perfect property and you’re certain you would like to make an offer, Mosaic Mortgages can obtain an ‘Agreement in Principle’ from a lender so that you can show the estate agent that you are able to obtain a mortgage.

Now it’s time to make an offer – View our top tips on how to make an offer and secure the home of your dreams.

If your offer is accepted then you’ll need a solicitor to take care of all of the legal work. Contact Mosaic Mortgages for a detailed quotation for the legal work involved.

Once the mortgage lender has all of the requested documentation and you’ve exchanged contracts, you can move in.

View our moving home tips for information on to prepare for a stress-free, money-saving move.