Rhona Wiltshire CII | Adele Butt CeMAP
Independent Mortgage Brokers
Dorchester - Dorset
01305 360886

Rhona Wiltshire CII

Adele Holmes CeMAP

Dorchester - Dorset
01305 360886

First Time Buyer Mortgages

When you buy your new home there are quite a few people who need to get involved. There is usually yourself, an estate agent (developers for new builds), a mortgage lender, your solicitor and a mortgage broker. The communications between all these parties can become quite complex and we thrive in helping you throughout the whole process until you own your new home.

Since Covid began in early 2020 mortgages for first time buyers with small deposits have become more and more difficult to secure. At Independent UK Mortgages Dorset, we update our knowledge daily of all lenders offerings in order that we match our clients to the best possible mortgage product.

We understand that deposits are extremely difficult to save and can give advice on deposits being used from Help to Buy ISA’s and Lifetime ISA’s. Additionally, we can help you with deposits gifted from friends or family.
As your local mortgage advisor, we can also help you through the Government Help to Buy (HTB) scheme for new build properties. For new build properties which qualify for the scheme, it is possible to secure a mortgage to buy a new property with as little as a 5% deposit. If you qualify for the HTB scheme, the government will lend you 20% of the property purchase price as a 5-year interest free loan. These schemes are an excellent way for first time buyers to get on to the housing ladder and mean that you only need to initially take on a 75% loan to value mortgage.

Shared ownership properties are also an excellent way for first time buyers to secure their first home. These types of purchases can be useful for people with low incomes and who are not currently able to borrow high amounts on their first mortgage. As a local mortgage broker company in Dorset, we would look forward to helping you in this type of purchase.

When thinking of buying your first home, it is advisable to obtain a decision in principle (DIP) early on in your home buying process. Before any estate agent would take your offer seriously on a property, they would expect to see a DIP in place. With whole of mortgage access, we would look at every UK lender and look to obtain a DIP for you with the most attractive mortgage product. Getting a decision in principle in place will let you know how much you can borrow and what your monthly payments would be before you start to look for your first home.
At Independent UK Mortgages Dorset we offer the following for first time buyers:
  • We take all your initial details and let you know how much you can borrow
  • We will access all lenders to find a mortgage with the best interest rates to match your requirements
  • Let you know what your monthly payments would be
  • Free appointments by phone, video call or face to face
  • Obtain a decision in principle for you once we have all your details
  • Communicate with you regularly until you own your new home
  • We will always look for free valuations and any cash-back offers available to you
  • If you have any missed payments or bad credit, we will analyse your credit file for you and let you know exactly what it means
  • We help all our clients through out the whole purchase process until they own the keys to their front door

Specialising in first time buyer mortgages, we’ll search the whole of the UK market and find the best product available for you.

Contact us today on 01305 360886