One of the biggest obstacles between you and your first home is probably the deposit. The average first-time buyer puts down a 20% deposit but the good news is that there are a number of lenders that will accept a 10% or even 5% deposit.
Once you have worked out the amount you need to save, create a plan to reach this goal. If you know you need to save £20,000 and you want to buy in 5 years time, put away £333 each month. If this is out of your budget, then you need to reassess your goals and adjust your monthly payments accordingly.
Don’t forget that, if you qualify, the government will give you a 25% boost on your savings. Help to Buy ISAs and Lifetime ISAs are specifically designed to help you save for your first home. These ISAs can also be used in conjunction with the Help to Buy Equity Loan scheme. If you’re planning on buying a home in the next few years, we think this is a no-brainer.
Our experts can give you an idea if your goals are achievable and what you need to do to make sure your finances are in order.

When purchasing a New Build, especially if you are looking to finance this with a mortgage, there are a series of things you need to be aware of before you part with your deposit.

Luckily we are well versed in this type of transaction and we thought it would be useful to put some useful pointers together to make sure you’re ready to purchase your New Build Home.

Speaking to a Professional Mortgage Broker who is experienced in the New Build arena is the best way forward, as they will have a knowledge of not only how schemes such as Help To Buy work, but also how every lender works and which ones have the best products at any one time.

Going directly to a bank is fine, but they can only offer their own products which may not be the most suitable for you, or be able to move within your time frames. Builders often set challenging deadlines, often wanting you to exchange on the property well before completion, so you need to be sure about your mortgage finance.

We have access to thousands of mortgage deals from over 90 different lenders, often including exclusive products that are not available on the High Street. We know which of these lenders will lend on certain developments, whether they use valuers who understand the property, how quickly they can move and how long their mortgage offers are valid for.

We will ensure you are in the best position to proceed quickly and be at your side throughout the whole process, making sure that oft-forgotten items such as builders warranties, service charges and ground rent terms or even any resale covenants are thought about.

In some instances, especially if you are purchasing an Assignable Contract, you may need to use a specialist lender or a Bridging Loan initially. Many mainstream lenders will not be able to lend on this basis and this is where our experience is worth its’ weight in gold and can literally save you hundreds or thousands of pounds with the right advice.