First-Time Buyers

Confido is here for first-time buyers!

Congratulations on taking the exciting step of buying your first home! It’s a momentous occasion filled with anticipation and possibilities. As a first-time buyer, you may be eager to dive into the journey of homeownership while wondering how to navigate the mortgage market effectively.

Securing a favourable mortgage deal can present its challenges, but with Confido by your side, you can achieve this goal and secure an attractive offer. While being a first-time buyer doesn’t inherently complicate the mortgage process, lacking experience in mortgage applications may pose some uncertainties.

Rest assured, our team at Confido is dedicated to guiding you through every step of the process, ensuring you find the best mortgage solution tailored to your unique needs and circumstances.

How Can We Help?

We operate with access to a Whole of Market Panel.

So, if one lender changes its underwriting criteria, we can quickly approach other lenders who may better match your needs.

Our services extend beyond merely securing a mortgage; we add value by providing a range of services, from finding a mortgage and protecting your finances to getting the right solicitors on board, all the way through to completion and the collection of your keys. We will be by your side every step of the way.

We will be by your side every step of the way.

Our services ensure that you will:

  1. Save money by securing the most competitive mortgage rates.
  2. Optimise your deposit to obtain favourable interest rates.
  3. Avoid hefty early redemption penalties or administration costs.
  4. Strategize the term structure of your borrowing whilst considering your age, objectives, and retirement plans.
  5. Understand the nuances of repayment versus interest-only mortgages.
  6. Save time and money by aligning with lenders whose criteria best suit you
  7. Review and optimise your existing mortgage provisions while recommending necessary solutions.
  8. Ensure cost-effective protection of your assets and inheritance for your beneficiaries.

Selecting the right lender goes beyond finding the lowest rate or premium.

We conduct a thorough assessment of relevant factors that impact the final cost to you, including hidden fees and charges.

We also provide insights into various government schemes tailored for first-time buyers, such as the Lifetime ISA, First Homes Scheme, Shared Ownership, and the Deposit Unlock Scheme. These schemes offer opportunities to make homeownership more accessible, especially for those struggling to save for a traditional mortgage deposit. As you embark on your journey to homeownership, our guide will walk you through each step of the process, from affordability assessments to the final exchange of contracts. We acknowledge that unforeseen delays can occur, and we are here to provide support and guidance every step of the way.

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A mortgage deposit is the initial sum you contribute towards the purchase of a property. The amount required typically ranges from 5% of the property value, however a larger deposit may reflect a lower interest rate being applied.

Government schemes like Help to Buy: Equity Loan and shared ownership are designed to support first-time buyers. These initiatives provide financial assistance or shared ownership options, making homeownership more accessible.

As a first-time buyer, you should budget for expenses such as solicitor fees, survey costs, stamp duty (if applicable), and mortgage arrangement fees. These fees can vary, so it is essential to factor them into your budget.

A Help to Buy ISA is a savings account designed to help first-time buyers save for a mortgage deposit. The government contributes a 25% bonus on savings up to a certain limit, providing a valuable boost towards your deposit savings.

Lenders assess your affordability based on factors such as your income, expenses, credit history, and the size of your deposit. Using a mortgage calculator or consulting with a mortgage adviser can help you understand how much you can borrow.

Your home may be repossessed if you do not keep up repayments on your mortgage.