Category: First-Time Buyer Mortgages

Do having dependents affect mortgage applications? This is one of the most common questions among parents applying for a mortgage. Understanding how having dependents can affect your mortgage application will give you an idea of what to expect, saving you any rude surprises and disappointments.

Whether you have your heart set on a particular home or want to get onto the first rung of the property ladder, you may be wondering, can a first-time buyer get an interest-only mortgage? While interest-only mortgages aren’t as popular as they once were, this option does provide an alternative to other mortgage types.

While it might sound like a mouthful, joint borrower sole proprietor mortgages, or JBSP, are straightforward and practical for a first-time buyer looking for a place they can call home. In simple terms, a joint borrower sole proprietor mortgage lets you buy a property with the help of up to a total of four people – it could be your parents, grandparents or a friend.

Buying a house is undoubtedly one of the biggest parts of adult life, and certainly one of the most stressful. This is especially true if you’re a first-time buyer with no real idea where to start. You may be concerned about the right and wrong things to do when looking to buy your first home.

It’s no secret that your income is one of the key factors in determining how much you can borrow. But how much do I need to earn to borrow 400K? No standard amount of income is required to qualify for a certain loan, as each lender has its own parameters for qualifying borrowers. However, this article provides a general overview based on a few factors.

One of the biggest challenges for buying a home is saving up a deposit, particularly as property prices have continued to rise in recent times. Some people have the option of parents lending a hand by supplying a gifted deposit to help with the purchase.

If you are trying to secure your very first mortgage, you may be wondering “Can my parent co sign mortgage?” This is actually commonly referred to as having a mortgage guarantor, and it is something that happens fairly frequently when it comes to first-time buyers in the UK.

For many people, getting on the property ladder is almost impossible without the help of a mortgage. Mortgages enable property buyers to borrow the money they need to purchase a property and pay it back in monthly instalments. However, they will need to pay a percentage of the property’s purchase price upfront in the form of a deposit.

Getting on the property ladder in the UK has never been more difficult. In fact, according to UK Finance and Which? it is predicted that mortgage lending will drop by £35bn in 2022. Mortgages enable many people who would otherwise never be able to purchase their own home to do so, provided they have enough capital to cover the initial deposit.

If you’re thinking about buying a new home, you may be wondering how to apply for a mortgage with help to buy. In this article, we’ll discuss what help to buy is and how you can apply for a mortgage with help to buy.