First Time Buyer
At David List Mortgage Consultants Ltd, we provide clear guidance and personalised mortgage advice to help first-time buyers take their first step onto the property ladder with confidence.
Buying Your First Home
Purchasing your first property involves several important decisions, from choosing the right mortgage to understanding the full costs involved in buying a home. With so many lenders and mortgage products available, it can be difficult to know which option is most suitable for your situation.
At David List Mortgage Consultants Ltd, we take the time to understand your financial circumstances and explain your options in plain, straightforward terms. We can help you work out how much you may be able to borrow, guide you through the mortgage application process and ensure you understand each stage before moving forward.
Our aim is to make the experience as simple and stress-free as possible, giving you the support and confidence you need when buying your first home.
FAQ's
How much can I borrow?
The amount you may be able to borrow will vary depending on the lender and their affordability criteria. Lenders will typically assess factors such as your income, regular outgoings, credit commitments and overall financial circumstances.
This may include things like personal loans, credit cards, car finance agreements or other monthly commitments. By reviewing your situation in detail, we can help estimate how much you may be able to borrow and explain what your monthly mortgage payments could look like.
How much deposit will I need?
In many cases, lenders require a minimum deposit of around 5% of the purchase price of the property.
For example, if you were purchasing a property valued at £100,000, a 5% deposit would be £5,000. However, having a larger deposit can often provide access to more competitive mortgage deals and potentially lower monthly repayments.
We can help you understand the options available based on the deposit you have saved.
What other costs are involved with buying a house?
In addition to the deposit, there are several other costs involved when purchasing a property. Understanding these early can help you plan your budget more effectively.
Common additional costs may include:
Solicitor or conveyancing fees
Property survey costs
Mortgage arrangement fees
Buildings insurance
Our advisers will explain the typical costs involved so you have a clear picture of the total budget required when buying your first home.