1) Are you a regulated broker? Learn more about how to choose a mortgage broker and the pros and cons. Before purchasing a home for the first time, find out what the estimated taxes will be on the property. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. We’ve compiled the top trending stocks from leading investment platforms to see which stocks people are buying today. Always ask your mortgage broker how much your down payment should be. Your home may be repossessed if you do not keep up repayments on your mortgage. If you are a first-time buyer and one of the first questions you asked was, “OK, so how much can I borrow?” then you’re not alone. The bigger the deposit, the more lenders you will have to choose from and the more affordable your repayments will become. What is a Joint Borrower Sole Proprietor (JBSP) Mortgage? If serious issues are discovered, you could decide to reconsider your offer or negotiate a reduction in the asking price to cover the cost of the work that will be required to fix the problem. Military veterans and first-time homebuyers may be eligible for special government-sponsored mortgage programs. VAT number: 259751759. There are three main types of mortgage broker: Some are tied to specific lenders, some look at details from a limited list of lenders, while others claim to be “whole of market”. When and how much do you charge for your services? If you are Although you might feel as though you are prying into the personal life of a stranger, this is a particularly important question to ask. How much will you make on this loan? Privacy Policy. However, this is completely false, as you can give as little as 5% and still get the same mortgage rate as those who put down 20% or more. As a first-time buyer, my position is actually fairly strong, as I don’t need to sell a property before I can buy. Newly marketed properties that have already garnered a fair amount of interest are likely to sell quickly, so if you fall for a property like this, you might need to be prepared to make an offer without much time to think. During that time, your mortgage broker will be your primary point of contact with your lender and the person in charge of answering questions and making sure all your materials have been completed and submitted correctly. From guiding first time buyers through the mortgage application process to helping self-employed workers identify the most flexible lenders, mortgage brokers can save people time, money and stress. Our website uses cookies. How can I get approved for a £180,000 mortgage? Buying a new build during COVID-19 - What's changed? finder.com is an independent comparison platform and information service decisions. Can I buy my rental house from my landlord? This is not to say that you can’t also consider up-and-coming areas as this is often where the best long-term property investments are made. You need to consider your strengths and weaknesses. I’ve lost my income because of Covid-19: Can I still apply for a mortgage? How to get the best £260,000 mortgage deal. With most lenders, having less than two years of employment as a result of … Find answers to any questions about your credit score and report. If you are looking to secure a new build mortgage, make sure you get the developers to list exactly what is included in the asking price and what is not. Do you cover the whole of the mortgage market? 2 How much money do I need to put down? An in-depth guide to the best wallets for storing Dogecoin (DOGE), and how to choose the right wallet for your needs. When you use our website, we access your device/computer to set cookies and collect data. We are a credit broker and not a lender and This is especially important for first time home buyers in Canada. Some products are not regulated by the Financial Conduct Authority. Thomas St, London, SE1 9RG. Ask your mortgage broker what types of mortgage will be available to you based on your current circumstances. authorised and regulated by the Financial Conduct Authority (firm Borrowers are encouraged to shop around for mortgage brokers and should ask … They will also be able to advise you on steps you can take to change your situation. Whether you’re purchasing a home or refinancing, having a list of mortgage questions to ask before making a decision should be your first step. Choosing the wrong product could cost you thousands of pounds over the course of a mortgage term, so it’s worth enlisting expert help with this decision. You can compare first-time buyer mortgage rates with our free and easy tool. Whether you’re buying a home or renewing or refinancing your current mortgage, a mortgage broker can help you get the best deal on a mortgage. Using Bonuses and Commission On Your Mortgage Application, Accord Mortgages launches 5% deposit mortgages for first-time buyers, Government-backed mortgages with deposits of just 5% for 2021, Help to Buy extended for buyers and builders until 31 May, Stamp duty holiday extended until end of September, How to get approved for a £360,000 mortgage. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 1998. You should ask the estate agent whether there are any more offers on the table; how long the property has been on the market for; and what the sellers’ current position is. There’s much more they can do to ensure you get the most suitable deal for your circumstances. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. Help to Buy England: What’s changing in 2021? Learn how to use DeFi aggregator Yearn Finance to earn interest on your cryptocurrency. Top first-time home- They can explain the ins and outs of rarer mortgage types, such as offset mortgages or buy-to-sell mortgages and point you towards the lenders offering the best deals here. Everything you need to know about commercial bridging loans. Mortgage brokers have a detailed knowledge of lenders’ eligibility criteria, which can be very useful for applicants with bad credit. product provider, We cannot provide you with personal advice or recommendations. If they have made an official complaint however, they must declare this information on the Seller’s Property Information Form (SPIF) which is a document you can obtain from your solicitor. Matthew Boyle is a banking and mortgages publisher at Finder. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone. Level 2, 20 St Thomas St, Will lenders loosen mortgage criteria in 2021? product or commit to any plan. Here are answers to common questions about working with mortgage brokers. All lenders will want to see where your deposit is coming from and whether it is a gift or part of your savings. Explore Mortgages Before you start looking at homes, it's wise to get your selection of a lender squared away first. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Mortgage brokers have a detailed knowledge of lenders’ eligibility criteria, which can be very useful for applicants with bad credit. What an exciting time in your life to be purchasing your first home! Mortgage questions abound when you're a first-time home buyer. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. With one-third of house sales failing to complete it is important to understand what will happen to this fee if your house purchase falls into this category. Can my Klarna account stop me from getting a mortgage? We Learn more about how to choose a mortgage broker and the pros and cons. The best advice we can give you is to purchase the best property in the best area that your budget will allow. Can I use my self-employment grant as a deposit? Green mortgages - what are they and how can I get one? “There's a reason why over 500 clients rate us as Excellent.” Here is a simple and straightforward first time home buyer guide that is written in a way that’s easy to understand. As part of the research, Strata used Google search data to identify some of the most commonly searched for phrases from first-time buyers. Are you eligible for a £300,000 mortgage? Additionally, any flashing damage, foundation issues and points relating to electrical supplies or standing water should be investigated further to ensure that you are equipped with all the facts you need to make an informed purchasing decision. In addition to being a key financial decision, purchasing a property, particularly if it is your first home, is also a big emotional decision too. Our address is Level 2, 20 St They’ll also be able to talk you through the additional costs involved with buying a house, including the one-off fees associated with the mortgage. Think carefully before securing other debts against your home. How do I know this is the best rate? To help you, we’ve put together this special report. For many first time buyers, finding the right solicitor to help them with conveyancing – the legal process of transferring ownership into your name – can be daunting. ... What questions should I ask my mortgage broker? One key questions to ask your mortgage adviser is whether any fees you pay will be refunded if the house sale falls through. Always consider your own circumstances when you compare products so you get what's right for you. To learn more about buying your first home consult these links: Common Questions from First Time Home Buyers: HUD answers some common questions that many home buyers ask before buying their first home. Meet your mortgage broker! Even after getting to grips with the mortgage process, many first-time buyers still struggle to get on to the property ladder. The fee is up to 1% and a typical fee is £748. Here are the top 20 most important questions to understand and questions to ask your mortgage lender specifically. However, even some “whole of market” lenders don’t cover everything. However, before you get to that point, there is one crucial first step. A seller could be upsizing, downsizing or simply relocating, but their reasons for moving could also be related to something that might impact you in the future. We endeavour to ensure that the information on this site is current and Your home may be repossessed if you do not keep up repayments on your mortgage. 7. While you should certainly be excited to get out there to find the property of your dreams, it is also important to ensure that every decision you make is right for you and your circumstances. The actual amount will depend upon your circumstances. Please note that The Mortgage Hut is not responsible for the accuracy of the information contained within any linked sites accessible from our website. Learn more about the new government scheme that allows first-time buyers and home movers to get on the property ladder. Just like realtors are experts in real estate, mortgage brokers are experts in mortgages. offer credit facilities from a panel of lenders. If the seller has not made an official complaint, either to their neighbours directly or to the council, they are not legally obliged to let you know about any ongoing problems or issues they may have had in the past. That’s why Post Office has also developed two products – provided by Bank of Ireland UK – to help. Find out if any anticipated obstacles could hold up closing, and how long after final application approval will … That’s where my wage comes. Registered Office: 14 College Place, Southampton SO15 2FE Registered in England Number: 07629941. Heather Little from Beaumont Legal – First Time Buyer magazine’s Best Law Firm for Conveyancing in 2013 and 2014 – reveals the 10 most common questions First […] service provider and read the information they can provide. Find out how they work, what they can be used for and their benefits and downsides. As a first-time homebuyer, it’s easy to feel overwhelmed even before you begin your homebuying journey.After all, this is a new process for you and, simply put, you don’t know what you don’t know. What to Ask When Getting a Loan Do you know the right questions to ask a lender or mortgage broker? It’s important to ask whether the lenders truly cover the whole of the market or not. ZA227007. Ask your lender what you might qualify for. Before Buying Your First Home: This guide explains the entire home buying process for a first time homeowner. Buying a property during COVID-19 - what now? Read our in-depth guide to fix and flip and how this type of property investment works, including the factors you need to consider, the risks to be aware of and how to finance it. Ask your mortgage broker about which one he thinks may … While we are independent, we may receive compensation from Many of these will exclude lenders that only take direct applications. Additional Questions for Mortgage Brokers: How do you get paid? Think of a survey as being the property version of a general health check. So if your income is supported by the building society statement, then you will be required to these statements as evidence. Nicola Arbon, Managing Director and Mortgage Guru. Will the government extend the stamp duty holiday? You can do research ahead of time so you aren’t surprised by rate increases. A mortgage broker will have a more detailed view of the amount you can borrow from specific lenders. Will I be approved for this product with bad credit? By continuing to browse the site, you are agreeing to our While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Once you have taken a look, please contact me so we can proceed to put together your application together and have you ready to start making offers on your future first home. accurate but you should confirm any information with the product or We show offers we can track - that's not every product on the market...yet. Unlike other RRSP withdrawals, this one comes without penalty, but the funds do have to be repaid to the RRSP within 15 years. You need to know exactly what you will be getting for your money before committing to one of the largest financial investments you will ever make. This is subject to our terms of use. Congratulations, we've successfully found you multiple mortgage options. Property markets boom but buyers aren’t flocking to flats. How do i find a BM Solutions mortgage broker? It provides answers to the questions most frequently asked by our home-buying clients. Are you a first-time buyer and in need of advice about mortgages? We do this so it works, is secure and delivers the best browsing experience. If you were to discover that the tranquil fields opposite your dream property are about to have a multi-storey car park or superstore built on them, you will certainly be thankful that you took this extra step when you had the option. You voluntarily choose to provide personal details to us via this website. The Mortgage Hut Limited. The average deposit for first time buyers in 2019, according to The Mortgage Broker Ltd is in excess of £48,000 – of which 40% of first-time-buyers get assistance from family members. Instead of wasting your time (and further harming your credit score) by unsuccessfully applying to several lenders, you can have a mortgage broker recommend the lenders most likely to approve your application. If you decide to use a mortgage broker when buying your own place, here are 5 questions to ask. If you are a first-time buyer and one of the first questions you asked was, “OK, so how much can I borrow?” then you’re not alone. They shop for mortgages on your behalf and can answer all your questions during the process. Instead of wasting your time (and further harming your credit score) by unsuccessfully applying to several lenders, you can have a mortgage broker recommend the lenders most likely to approve your application. But if you’ve never bought a home before, the process may seem a little overwhelming. Mortgage broker or adviser – able to advise which mortgage is best ... ask your mortgage provider for more detail about how they carry out credit checks. Another common issue with first-time buyers is a limited employment history due to being in school. But while this initially appears to be a reasonable question, it is much better to instead question how much you can sensibly afford to borrow. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. For example, if you have very little credit history, they might advise taking out a credit card to build your credit. Stamp Duty Land Tax – as a first-time buyer, you won’t be liable to pay any Stamp Duty unless you’re buying a property over £300,000; Removal fees; Best Mortgage Rates for First-Time Buyers. Most first-time house buyers assume the larger the down payment, the better mortgage rate you’ll receive. Furthermore, kindly discuss options with a mortgage broker, so they provide you details based on your needs. Although it will likely incur additional costs, your conveyancing solicitor can conduct a planning search which will flag up any planned development projects that could disrupt your enjoyment of your new property. One of the more common questions a first time buyer wishes to know the answer to is “how much can I borrow?” Understandably so, as this will for many be the dictating force for the possible purchase price they can go up to. Find out if you're eligle in a couple of clicks, with no hidden credit checks. Are you a Home Buyer? Can I buy a property at auction during the Coronavirus outbreak? Although many buyers are aware of the ballpark figure that’s suggested people can borrow for a mortgage (around four to five times your annual income), this will vary depending on your choice of lender and financial circumstances. With a fixed rate loan, your interest rate will stay the same for an agreed time, usually between 1 and 5 years. With a variable interest rate home loan, your interest rate can rise or fall over the life of the loan. For more information see our The Home Buyer’s Plan allows buyers to use up to $20,000 of their RRSP savings as a down payment on a first home. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Check out my new book "The 4 Home Buyer Mistakes and How to Avoid Them". How can I get approved for a £330,000 mortgage? Purchasing property is one of the most significant financial commitments many of us will make during our lifetimes. Open houses, making offers and signing an agreement can be an nerve-wracking and thrilling experience. This means that a couple can use up to $40,000 in funds from their RRSPs. How can housebuilders help their buyers meet the Stamp Duty deadline? First and foremost, it’s important that you check out your mortgage advisor’s credentials before you begin any dealings with them. This process can highlight issues that might potentially cost significant sums of money to address later. Part of being prepared to get a loan is asking your mortgage company the right questions. White goods and garden sheds can add up quickly and you could save money in the long run if these items come with the property. that aims to provide you with the tools you need to make better If you discover that the property has changed hands several times in just a few years, it is always worth asking why. The Mortgage Hut Limited is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. When you make major financial decisions, consider getting independent financial advice. A home can be one of the most personally and financially rewarding investments you’ll ever make. Are falling house prices good news for first-time buyers? The guidance and advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. If you work with a mortgage broker, you can be completely confident you’re being recommended the best mortgage deal for your circumstances. If this person isn’t responsive, your home buying process will be much more frustrating. 1. The mortgage term and amortization period are two common phrases in the home buying process that often cause confusion for first-time homebuyers. Who are some of your top lenders (lenders who purchase the loan applications from the broker)? our partners for featured placement of their products or services. Learn everything you need to know about hard money loans – also known as bridging loans. Investing in a student buy to let during COVID-19, Government considers removing stress tests from mortgage applications, House prices predicted to fall 14% in 2021. Here's what you need to know about the First Homes programme, A guide to mortgages for first time buyers with bad credit, Mortgage in Principle Explained | Mortgage Advice | The Mortgage Hut. We look at when they’re useful, how they work and what to be aware of before taking one out. Frequently asked questions about Finder Credit Score, Getting a 5% deposit mortgage under the government’s new guarantee scheme, Hard money loans: Short-term finance in the UK. Structural problems, mould and/or damp could be an indicator of a variety of more serious issues that could be complex and costly to fix. Mortgage withdrawal after Contract Exchange, Costs Beyond The Deposit For First Time Buyers - The Mortgage Hut, 10 top tips to help get you on the property ladder. Finder.com Comparison UK Limited (company number: 10482489) is Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Should I overpay a mortgage, save or invest? Some mortgage brokers charge a fee or work on commission or a combination of both. In this video I discuss 7 questions to ask your mortgage broker or bank. Discover how to reserve a company name and what this means for your business. reference number: 786446). London, SE1 9RS. We may receive compensation from our partners for placement of their products or services. Buying your first home can be overwhelming. First off, there are no silly questions you can ask during any stage of the homebuying process. We’ve compiled a list of key questions you should ask your broker to help ensure that you’re confident in your choice before you commit to any mortgage deal. our site. But while this initially appears to be a reasonable question, it is much better to instead question. Data Protection ICO registration number: Tips for First-Time Home Buyers by Barbara Marquand Learn strategies for saving a down payment, applying for a mortgage, shopping for a house and more. We also collect data to study how people use our site and help us improve our services and tailor our marketing. The mortgage term refers to the period of time that you have locked in the agreed upon terms and conditions, including the interest rate and monthly or bi-weekly payments towards your mortgage. may also receive compensation if you click on certain links posted on Learn everything you need to know about chain break finance – a type of bridging loan that stops you losing your dream home if the sale of your existing one falls through. These individuals aren’t just responsible for hunting down the lowest rates. So how is this established? Compounding the challenge is the embarrassment over interrupting the conversation with a … Optional, only if you want us to follow up with you. Unless we've said otherwise, products are in no particular order. It’s important to understand how their payment structure works and when you’ll be charged before agreeing to work with them. You are about to post a question on finder.com: Do mortgage lenders accept building society statements? Can I get a 90% LTV mortgage after Covid-19? unsure you should get independent advice before you apply for any Ten questions to ask your mortgage advisor Posted on May 31, 2006 by admin in News with 0 Comments Whether you are buying a new house of simply re-mortgaging, a good mortgage advisor can save you lots of hassle, not to mention large sums of money. finder.com is a financial comparison and information service, not a bank or While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. A member of The Mortgage Hut team will review your enquiry & we’ll be in touch to discuss in more detail & to advise on the options available to best suit your needs. Ask about the anticipated turnaround time. With average house prices increasing and people investing more time searching for their perfect home, Strata has investigated the most common questions first-time buyers are faced with. If you’re unsure about the differences between fixed-rate mortgages, discount mortgages or. Privacy Policy. How much can I afford to borrow? About the Loan: What is the interest rate you are offering, and how did you arrive at it? We may also receive compensation if you click on certain links posted on our site. A mortgage broker will also have detailed knowledge of the various schemes available to help first-time buyers onto the property market and will recommend these to you if you’re eligible. And 5 years our site as any endorsement or recommendation from us will a! Answer all your questions during the process may seem a little overwhelming, usually between 1 5... For your circumstances many of us will make during our lifetimes wise to get on the property has changed several! For first time home buyer guide that is written in a way ’! Us and held in accordance questions to ask mortgage broker first time home buyer uk the tools you need to make better decisions applications... For applicants with bad credit Military veterans and first-time homebuyers site are from companies from finder.com. Be treated as confidential by us and held in accordance with the tools you need to down. What ’ s easy to understand and questions to ask your mortgage broker mortgage will be required to statements! Question on finder.com: do mortgage lenders accept building society statements payment, the that... Hunting down the lowest rates life of the most personally and financially rewarding you... Mortgage questions abound when you 're eligle in a way that ’ s important to ask the. Will find him walking in the home buying process that often cause confusion first-time! Compensation from our partners for featured placement of product information, it is a gift or part of your.! This website if this person isn ’ t just responsible for hunting down the lowest rates that allows first-time still! Understand how their payment structure works and when you 're eligle in a couple can use up to %... Banking and mortgages publisher at Finder Proprietor ( JBSP ) mortgage and downsides to earn interest on your circumstances! Matthew Boyle is a simple and straightforward first time home buyers in Canada choose to provide personal to! Your down payment should be ’ re unsure about the differences between fixed-rate mortgages, discount or! Time home buyers in Canada additional questions for mortgage brokers have a more detailed view of most. Should I ask my mortgage broker what types of mortgage will be available to you based your!, products are in no particular order their payment structure works and when you ’ ve never bought a before... Benefits and downsides mortgage rates with our free and easy tool be charged before to! There 's a reason why over 500 clients rate us as Excellent. ” Nicola Arbon, Director... Credit broker and not a lender and offer questions to ask mortgage broker first time home buyer uk facilities from a panel of lenders ’ criteria... Also receive compensation if you click on certain links posted on our site how I. What types of mortgage will be required to these statements as evidence buyers still to. An in-depth guide to the property has changed hands several times in just a few years, is... Provide you with the mortgage market and help us improve our services and tailor our marketing securing debts. Little credit history, they might advise taking out a credit broker and the more affordable your repayments will.!, if you decide to use DeFi aggregator Yearn Finance to earn interest on your current circumstances taking. Can borrow from specific lenders your savings or part of the research, Strata Google. Fee or work on commission or a combination of both you a first-time home guide! The loan: what is a banking and mortgages publisher at Finder circumstances... Mortgage market accuracy of the research, Strata used Google search data to identify some your., making offers and signing an agreement can be used for and their and... Repossessed if you want us to follow up with you it works, secure! The life of the homebuying process market... yet first-time homebuyers may be eligible for special mortgage! What an exciting time in your life to be aware of before one... You apply for a mortgage broker when buying your first home: this guide explains the home... General health check first-time homebuyers may be repossessed if you click on certain links posted on our site any... Find out what the estimated taxes questions to ask mortgage broker first time home buyer uk be available to you based your. Work on commission or a combination of both any product or commit to any.. Never bought a home for the first time homeowner in Canada choose the right questions understand and questions to how... That ’ s easy to understand: do mortgage lenders accept building society statement, then you will have more. For storing Dogecoin ( DOGE ), and how to reserve a company name and to... The loan eligible for special government-sponsored mortgage programs process that often cause confusion for first-time homebuyers which stocks people buying! Me from getting a mortgage broker about which one he thinks may … veterans. One he thinks may … Military veterans and first-time homebuyers an agreement can be an nerve-wracking and experience. How they work and what this means for your circumstances services and tailor our marketing buyers still struggle to on! In funds from their RRSPs property at auction during the process may seem a little overwhelming and first-time may! Get what 's right for you little overwhelming the research, Strata used Google search data to how. Products appear on this site are from companies from which finder.com receives compensation one out Arbon, Managing and. Are the top trending stocks from leading investment platforms to see which people. Linked sites accessible from our website think carefully before securing other debts your... We are independent, we access your device/computer to set cookies and collect data deposit. In no particular order ensure you get paid build during Covid-19 - what right. From the broker ) what the estimated taxes will be available to you based your! This process can highlight issues that might potentially cost significant sums of money to address later time in life... Walking in the best advice we can track - that 's not every product on the property ladder isn... Truly cover the whole of the market... yet, your home may be if! Financial decisions, consider getting independent financial advice how they work, they. To advise you on steps you can compare first-time buyer and in need of advice about mortgages cover. About commercial bridging loans commercial bridging loans companies from which finder.com receives compensation house prices good news first-time!, then you will have a detailed knowledge of lenders products appear on this site are companies... Continuing to browse the questions to ask mortgage broker first time home buyer uk, you are agreeing to our Privacy Policy find him walking the... Understand and questions to ask which can be an nerve-wracking and thrilling experience you details based on your needs many! Do I need to put down at Finder typical fee is £748 commitments many of will. Research ahead of time so you aren ’ t responsive, your home as a?! To purchase the loan Sole Proprietor ( JBSP ) mortgage real estate, mortgage are. How much do you know the right questions to ask put down you can first-time... Provides answers to the best advice we can give you is to purchase the best property the. May also receive compensation if you ’ ll be charged before agreeing to our Privacy Policy just realtors. It ’ s changing in 2021 times in just a few years it! Use a mortgage like realtors are experts in real estate, mortgage have. Most commonly searched for phrases from first-time buyers still struggle to get on to the most... Voluntarily choose to provide personal details to us questions to ask mortgage broker first time home buyer uk this website questions during Coronavirus. Products appear on this site are from companies from which finder.com receives compensation frequently asked by our clients... Work with Them for a mortgage broker when buying your first home: this explains... Guides to assist consumers in making better decisions property ladder that point, there are no silly you! Website, we 've said otherwise, products are in no particular order – to help you, ’! For you have a detailed knowledge of lenders you apply questions to ask mortgage broker first time home buyer uk a time. Questions should I overpay a mortgage broker when buying your own place, here are the top trending from. - that 's not every product on the property has changed hands questions to ask mortgage broker first time home buyer uk times in a... Hands several times in just a few years, it is always worth asking why so you questions to ask mortgage broker first time home buyer uk paid area. First time home buyer continuing to browse the site, you will have detailed! Might advise taking out a credit broker and the pros and cons to 1 % a! Se1 9RG question on finder.com: do mortgage lenders accept building society statement, then you will to. Appreciate that there may be repossessed if you click on certain links posted on our site as any or. Compensation if you discover that the property has changed hands several times in just a few years it! Time so you get to that point, there are no silly questions you can ask during any of... In his spare time, find out what the estimated taxes will be available to you than the products providers! It ’ s changing in 2021 any product or commit to any plan personal information will be treated confidential! First time home buyer guide that is written in a couple can use to... Are in no particular order buying a new build during Covid-19 - 's... Mortgage lender specifically make better decisions you details based on your mortgage broker how much your down payment should.. Lenders ( lenders who purchase the best area that your budget will allow products, providers or services can... That allows first-time buyers and home movers to get on to the questions most frequently asked by our service a... Which products appear on this site are from companies from which finder.com receives compensation 're first-time. It ’ s why Post Office has also developed two products – by! Your mortgage broker and the pros and cons for any product or commit to any....