First Time Buyer Mortgage Advice in Essex

Being a mortgage broker in Essex, we have access to a large panel of lenders as well as rich knowledge of a range of criteria. As mentioned, we carry out an assessment on your general finances and get a good understanding of your circumstances. With this, we can find you the best mortgage for your financial state.

Achieving your mortgage goals as a First Time Buyer in Essex can happen with the help of various government schemes that have helped many First Time Buyers on the property ladder before. Some of these schemes include Help to Buy Equity Loan, Lifetime ISAs, and the Right to Buy Scheme. If you are wanting more information about these schemes, have a look at our guides section of our website.

Our knowledgeable Mortgage Advisors in Essex are efficient in keeping up to date with the government schemes available and can answer any questions you may have about these.

In addition to your saved deposit, there are several other expenses to keep in mind when purchasing a property, including conveyancing and solicitor fees, property surveys, broker fees, and mortgage arrangement fees. It's also important to factor in potential stamp duty and insurance costs for home, content, and financial security.

To gain a more thorough understanding of these additional expenses, you can speak with your dedicated mortgage advisor in Essex during your free initial mortgage appointment. They can provide you with more detailed information and answer any questions you may have.

In order to qualify for a first time buyer mortgage in Essex, you must have saved a minimum of 5% deposit or more. Additionally, you will need to hire a conveyancing solicitor to handle the legal aspects of the property purchase.

As a mortgage broker specialising in assisting first time buyers in Essex, we're here to guide you through the process from start to finish. Our mortgage advisor in Essex will help determine your eligibility and find the most appropriate first time buyer mortgage for your unique situation.

When it comes to first time buyer mortgages in Essex, there are a variety of options available to suit different preferences. One of the most popular options is a fixed-rate mortgage, which allows you to lock in your interest rate for an extended period, safeguarding you against potential interest rate increases.

Alternatively, a tracker mortgage is tied to the Bank of England's base rate. So if it rises, so will your interest rates, and vice versa. Discounted variable rates provide a more affordable option, but keep in mind that changes in the lender's standard variable rate can cause fluctuations in your interest rates.

There are also offset mortgages, which offers an interest-free savings account that is flexible and helps offset your mortgage balance. The more you save, the less interest you pay on your mortgage.

To learn more about these different mortgage options and determine which one best fits your needs, book a free mortgage appointment with one of our knowledgeable mortgage advisors in Essex.