Understanding mortgages as a first time buyer can be confusing. As the mortgage market changes and fluctuates year on year, constantly adjusting as new lenders enter the market and interest rates rise and fall, understanding the best deal at the time can be difficult.
To assist first time buyers many lenders have introduced schemes such as a 'guarantor mortgage' where a parent’s income is used to increase potential borrowing.
Your chosen IFA will explain the various options available, and help you through the process step-by-step, working out how much you can borrow, how much it will cost, and what type of mortgage may be most suitable for you. Mortgages can also be arranged even if you do not have a deposit.
Contact an advisor
Disclaimer: Your home may be repossessed if you do not keep up repayments on your mortgage
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