SPECIALISTS IN FIRST TIME BUYER MORTGAGES
FIRST TIME BUYER MORTGAGES
At OH Mortgages, we pride ourselves on providing exceptional services that go beyond helping you secure a mortgage as a first-time buyer. We work with a wide range of specialist lenders to ensure that you get the best deal possible, and our personalised approach means that we take the time to understand your financial situation to find the best mortgage solution. With OH Mortgages by your side, you can be confident that you’re working with a one-stop-shop for Mortgages, Protection and Home Insurance. Let us help you achieve your homeownership goals today.
OLIVER HARTNACK - SPECIALIST IN FIRST TIME BUYER MORTGAGES
As a specialist in first-time buyer mortgages, Oliver Hartnack can help you achieve the house of your dreams. When working out how much you can borrow, two main factors are considered: your income and your credit commitments. As an experienced mortgage broker, they can guide you through the process of calculating how much you can borrow and which income streams you can use to make the most of your mortgage.
When buying a house, the deposit you put down can significantly impact your interest rate. Generally, a bigger deposit will be more beneficial but the value of the house you want to purchase will also be a factor. OH Mortgages can help you determine the ideal deposit for your specific circumstances and even help you navigate the option of a gift deposit from family or friends. Whether you’re looking to buy a house as a first-time buyer or are simply looking to explore your mortgage options, OH mortgages can help you find the right deal to suit your needs.
With over a decade of experience in the mortgage industry and specialist knowledge of first-time buyer mortgages, OH Mortgages are the ideal solution to help you navigate the process of buying your first home. With no broker fee and a wealth of knowledge and experience, they’re dedicated to helping clients achieve their dreams of owning their first home.
DO YOU HAVE ANY QUESTIONS ABOUT FIRST TIME BUYER MORTGAGES?
If you’re a first-time homebuyer, navigating the mortgage process can be overwhelming. Fortunately, we’re available to help you understand the ins and outs of first-time buyer mortgages. Whether you’re curious about interest rates, down payment requirements, or the application process, don’t hesitate to ask questions. Get in touch with us today!
EXPERTS IN PROVIDING ADVICE FOR FIRST TIME BUYERS
At OH Mortgages, we are experts in providing advice for first-time buyers and have helped various customers achieve buying their first homes.
When working with us, we’ll guide you through the entire process, from determining how much you can afford to borrow to finding the best mortgage solution for your needs. No question is too big or too small, as we strive to ensure a personalised approach to mortgage solutions at all times. We’ll listen to your goals and concerns, and we work to help you achieve your homeownership dreams. Contact us today to learn more about how we can help you as a first-time buyer.
Your home may be repossessed if you do not keep up repayments on your mortgage
Other Services We Proudly Provide
In addition to providing mortgage services for first-time buyers, we also provide a wide range of other services. These include:
FAQ'S ON FIRST TIME BUYER MORTGAGES
We’ve prepared some of our most common frequently asked questions around first time buyer mortgages, if you have any further questions, please don’t hesitate to speak to our team.
When choosing a mortgage, you’ll have the option of choosing between different types of mortgages:
Fixed Rate – The interest rate on your mortgage is fixed, so the amount you repay won’t change for the period you are fixed in for, the length will vary product to product so have a discussion with your broker to see what works for you.
Variable Rate – The interest rate on your mortgage is variable and may change as the Bank of England base rate rises or falls. The amount you pay back each month may vary, up or down.
You can also choose between a repayment mortgage or an interest only mortgage:
Repayment – Each month, your repayment covers some of the capital you borrowed, plus your interest charges.
Interest Only – Each month, you only make interest payments. At the end of the mortgage term, you must repay the capital you borrowed in one go.
What is ‘best’ will be determined by your financial situation, your affordability and various other factors. If you’re looking for advice personalised to your situation, please get in touch with our team. We’ll arrange a meeting to go through any questions you may have and get you started on your mortgage journey.
No, it is not hard to get a mortgage as a first-time buyer, as long as you’re financially prepared. As a general rule, your mortgage will be 4.5x your annual income and if you’re working within this budget, then the application process won’t be too hard. You’ll also need a deposit of roughly 10% the value of the property, but this will vary with different lenders.
We’re here to make the process as seamless as possible, liaising with lenders to find you the best possible deal. With our help, you can secure a first-time buyer mortgage with no problem!
The simple answer is the bigger the better.
This being said, it does depend on the value of the house you want to purchase. Some allow for as little as a 5% deposit of the purchase price, but this will increase the interest rate. Generally, the better the deposit, the better the interest rate you’ll receive.
You can usually borrow 4.5x your annual income. However, all lenders treat income differently, so it is essential to consult with a mortgage broker about which types of income you can use.
You’ll qualify as a first time buyer, if the home you are purchasing is your only or main residence, and have never owned a freehold or leasehold property abroad or in the UK.
As a first-time buyer, there are a range of great benefits. These include: