Mortgage Advisors Brackley Northamptonshire

First time buyer mortgages

Welcome to Thomas Honour Mortgages Services – Your Trusted Mortgage Advisors for First Time Buyer Mortgages in Brackley and Beyond.

Are you a first-time buyer dreaming of owning your own home? Look no further! Thomas Honour Mortgage Services is here to guide you through the exciting journey of purchasing your first property. Our expert team is dedicated to providing you with top-notch mortgage advice tailored specifically to meet the needs of first-time buyers just like you.

Mortgage Advisors Brackley Northamptonshire

Our First Time Buyer Mortgage Services:

  1. Tailored Mortgage Advice: At Thomas Honour Mortgage Services, we specialise in providing tailored mortgage advice designed specifically for first-time buyers. Our experienced advisors understand the unique needs and challenges faced by individuals purchasing their first home. By offering personalized guidance and expert insights, we ensure that first-time buyers receive the support they need to navigate the home-buying process confidently.
  2. Comprehensive Viewings Toolkit: Our comprehensive viewings toolkit is designed to empower first-time buyers with the resources and insights they need to make informed decisions during property viewings. With checklists, questions for the agent, and your personalised mortgage agreement certificate we ensure that first-time buyers are equipped to evaluate properties effectively and confidently.
  3. Negotiation Assistance: As a first time buyer, securing the best possible deal on your dream home is crucial. Our skilled advisors leverage their expertise and market knowledge to support you during the offer stage, to help you get the best price and stay within your budget.
  4. Implementation of Your Mortgage: Trust Thomas Honour Mortgage Services to handle the seamless implementation of your mortgage, tailored to the needs of first time buyers. From initial consultation to final approval, our team manages all aspects of the mortgage process, allowing you to focus on other aspects of your life.
  5. Instruct Solicitors: Navigating the legal of purchasing your first home can be daunting. That’s why we offer dedicated support in instructing solicitors, ensuring that all legal requirements are met smoothly and efficiently throughout your home-buying process
  6. Instruct Surveys: When buying your first home, it’s essential to assess the condition of the property thoroughly. We’ll help you arrange for professional surveys to identify any potential issues or hidden costs, giving you peace of mind and confidence in your decision.
  7. Protection & Insurance Advice: Safeguard your future as a first-time buyer with expert advice on insurance products and protection plans. Our experienced advisors will recommend the right insurance solutions tailored to your needs, providing financial security for you and your loved ones as you embark on your homeownership journey.
  8. Streamlined Paperwork Assistance: We understand that dealing with paperwork can be overwhelming, especially for first-time buyers. That’s why our dedicated team provides comprehensive assistance with all documentation requirements, ensuring a smooth and hassle-free transaction from start to finish for first-time buyers.

Why Choose Thomas Honour Mortgage Services?

  1. Expertise in First-Time Buyer Mortgages: Our team specialises in assisting first-time buyers like you, navigating the complexities of the mortgage market with ease. Our team of knowledgeable advisors will assist you every step of the way, simplifying the process to make it as stress-free as possible.
  2. Extensive Network of Lenders: We have established strong relationships with a wide range of lenders across the UK. This allows us to access exclusive mortgage deals and find the most suitable options for your specific circumstances.
  3. Personalised Mortgage Advice: At Thomas Honour Mortgage Services, we believe in providing personalised mortgage advice to each of our clients. We take the time to understand your financial situation, preferences, and long-term goals. Our expert advisors then recommend a bespoke mortgage solution that aligns with your needs, making the entire process smooth and stress-free.
  4. Simplified Mortgage Application Process: Applying for a mortgage can be overwhelming, especially for first-time buyers. With Thomas Honour Mortgage Services you can relax. Our streamlined application process ensures minimal stress, quick approvals, and efficient communication every step of the way.
  5. Additional Support: As first-time buyers, you may have numerous questions and concerns. Our dedicated advisors are always available to address your queries and provide expert advice. We are committed to providing ongoing support even after your mortgage has been approved, ensuring your peace of mind throughout the entire home-buying process.

Why First-Time Buyers Trust Us:

Proven Track Record: Over the years, we have successfully assisted hundreds of first-time buyers in securing their dream homes. We are the top-rated mortgage advisors in Brackley, check out our reviews from our satisfied clients

Transparent and Honest Advice: Honesty and transparency are the cornerstones of our service. You can trust us to provide unbiased advice, ensuring you make well-informed decisions.

Continuous Support: Our commitment doesn’t end with your mortgage approval. We are here to support you throughout your homeownership journey, assisting with refinancing, mortgage renewals, and more.

Take the First Step Towards Homeownership: Owning your first home is within your reach. Let Thomas Honour Mortgage Services be your trusted mortgage advisor in this exciting journey. Contact us today to speak with one of our experienced advisors, and let us help you “Make your dream home a reality”.

First-Time Buyer Mortgage F.A.Q

The amount of deposit required for a mortgage can vary based on several factors. Lenders typically assess the deposit size as a percentage of the property’s value. While there is no fixed minimum deposit requirement, most mortgage lenders require a deposit of at least 5% of the property’s purchase price.

Having a larger deposit is generally beneficial as it can increase your chances of securing a mortgage and potentially allow you to access more competitive interest rates. Additionally, a higher deposit may also reduce your monthly mortgage payments.

However, it’s important to note that the specific deposit amount needed will be determined by the lender’s affordability assessments, taking into account factors such as your credit history, income, and the overall affordability of the property you’re considering.

To ensure you get the most accurate and up-to-date information regarding deposit requirements, it is recommended to consult a qualified mortgage advisor. They will assess your individual circumstances and guide you through the process of determining the ideal deposit amount based on your unique circumstances.

Remember, while it’s crucial to consider the deposit amount, it’s equally important to evaluate other associated costs such as solicitor fees, stamp duty (if applicable), and ongoing expenses like mortgage protection and insurance premiums.

When determining the amount you can borrow for a mortgage, several factors come into play. These factors include your income, expenses, credit history, and the affordability criteria of lenders. Here’s a comprehensive breakdown:Income: Lenders typically assess your income to determine your borrowing capacity. This includes your regular salary, bonuses, commission, self-employed earnings, rental income, and other sources of income. The higher your income, the larger the mortgage you can potentially borrow.Affordability Calculation: Lenders perform affordability assessments to ensure that you can comfortably meet the mortgage repayments. They consider your income, regular expenses (including bills, utilities, and existing debts), and lifestyle costs. The loan amount is usually a multiple of your annual income, often between 4 to 5 times, though it can vary.Deposit: The amount of deposit you can provide affects the mortgage amount. In the UK, a minimum deposit of 5% of the property’s value is generally required, depending on the lender’s criteria the lender may lend up to 4.5 times your income on this basis. However, for larger deposits of 25% upwards, some lenders may lend up to 5.5 times your income.Credit History: Lenders consider your credit history to assess your creditworthiness. A good credit score increases your chances of securing a larger mortgage and favorable interest rates. It’s important to maintain a healthy credit profile by paying bills on time, avoiding excessive debt, and ensuring a low credit utilisation ratio. Other Considerations: Lenders may also consider other factors such as your age, employment stability, and number of financial dependents. They may assess the type of property you’re purchasing, as certain properties (e.g., new builds or leasehold properties) can have specific lending criteria.To get an accurate estimate of how much you can borrow for a mortgage, it is advisable to consult with a mortgage advisor like Thomas Honour Mortgage Services. We will consider your unique financial situation and provide an accurate borrowing amount tailored to your circumstances. 

When considering purchasing your first home, it’s essential to be aware of the various costs involved in the process. Understanding these costs will help you budget effectively and make informed decisions. Here’s a comprehensive breakdown of the expenses associated with buying your first property:

Deposit: The first significant cost is the deposit, typically a percentage of the property’s total value. In the UK, most lenders require a deposit of at least 5% of the property’s price.

Mortgage Fees: If you require a mortgage to finance your home purchase, there may be fees involved. These include arrangement fees, valuation fees, and mortgage broker fees. Your mortgage advisor will be able to confirm the specific costs associated with your mortgage.

Stamp Duty Land Tax (SDLT): SDLT is a tax levied by the government on properties valued above a certain threshold. The rate depends on the property’s price, and there may be different rates for first-time buyers.

Survey Costs: While a mortgage valuation is mandatory and generally paid for by your lender, a more detailed survey by a chartered surveyor is advisable to identify any potential issues with the property. Survey costs vary based on the level of inspection needed.

Legal Fees: Conveyancing involves the legal transfer of property ownership and comes with a solicitor or licensed conveyancer fees.

Additional Ongoing Costs

Home Insurance: Mortgage lenders typically require you to have buildings insurance. It’s also wise to consider contents insurance to protect your possessions.

Mortgage Protection: Some lenders may require mortgage protection to protect them in case you’re unable to make mortgage payments. The cost of this insurance depends on factors like the loan amount and your circumstances. It is usually recommended you protect yourself with life insurance, critical illness cover, and income protection to ensure you can be financially resilient in the face of unexpected events.

Property Upkeep: Once you own the property, ongoing maintenance and repairs are essential to consider. If the property requires renovations or repairs, you should budget for these expenses separately.

Council Tax: Be aware of the annual council tax bill for the property, which varies depending on the local authority.

Utility Bills and Other Costs: Budget for utility bills, ongoing service charges (e.g., for apartments), and other regular expenses.

Remember, these costs can vary depending on factors like the property’s location, value, and individual circumstances. It’s wise to seek advice from professionals such as mortgage advisors, solicitors, and surveyors to gain a comprehensive understanding of the costs associated with buying your first home.