Mortgages for first time buyers

Buying a house is one of the most important purchases you will make, and buying a home for the first time will be an even more daunting prospect. Add to this the vast array of mortgage products available from a wide range of sources, and you are left with a high-stress, confusing decision.

Where do you go to get your first mortgage?

Yes, you have an array of choices...You will find that Mortgage Providers or Mortgage Advisers/Brokers are either Tied, Multi Tied or Whole of Market.

Typically, the following applies

• A Bank - who will generally only recommend just one mortgage (Tied in most cases)
• A Building Society - who generally just sell their own brand (Tied in most cases)
• An Estate Agent - who tend to choose from a limited range or are owned by a bank or building society - (Mulit-Tied in most cases)
• Or an independent mortgage broker (Whole of Market in most cases)

KMS Chose to be Whole of Market to ensure our clients receive the best possible mortgage for your current circumstances

We'll show you the way

We know how tough it is for first time buyers to get on the property ladder and find a competitive mortgage. We have all been there. Being a First Time Buyer is stressful and frustrating and can often lead to sleepless nights. KMS will help first time buyers lessen this stress and eliminate as much confusion as possible. We specialise in introducing first time buyers to lenders with the best deals that suits our clients every need.

If you are a first time buyer, you don't need to shop around for the most competitive mortgages – KMS has professional friendly advisers that will do it for you.

As a first-time buyer there are all kinds of different options available when it comes to getting your first mortgage. There are fixed rate mortgage, cashback mortgages and discount rate mortgages. For more information relating to each mortgage type, visit our FAQ'S

One of the most common questions asked by first time buyers is how much they can borrow for their first mortgage. First time buyers are often having to borrow an amount several times their annual salary just to have a chance of getting on the property ladder. As a result, the average age of a first time buyer has risen noticeably over the past 15 years.

For first time buyers who are in full time employment and are paid on a PAYE basis, most mortgage lenders will use your salary as the starting point for calculating how big a mortgage they will offer you.

Other mortgages to consider to get on the first step of that ever climbing property ladder are, Shared ownership Mortgages, Key Worker Mortgages, or shared Equity Mortgages.

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Please contact us or call on 0800 037 8432 to discuss your requirements.