Mortgages for First Time Buyers

At Carter Lee we understand that buying your first property can be an exciting but daunting prospect.  We offer good advice at an early stage and guidance throughout the whole process, making the first steps onto the property ladder as easy as possible.

What you need to know about first-time mortgages

When applying for a mortgage, you will need to satisfy the prospective lender that you will be able to comfortably keep up the repayments, now and in the future.  This is why it is so important to get the right mortgage for you, your family or your business.

There are a number of options available for first time buyers to make buying your first property more achievable. Talking to a mortgage broker with access to the whole of the market will help you understand and have access to all available options. Carter Lee’s specialist mortgage and protection advisers have access to the wide mortgage market in order to provide first time buyer clients with a choice of products and lenders that are the right fit for you.

There are a number of upfront costs when it comes to buying your first property in addition to the deposit and mortgage repayments. These can include mortgage set-up fees, property solicitors’ fees and Stamp Duty Land Tax.  We will always give you a full written list of the anticipated costs and can answer any queries you may have at any time.

Keeping your finances in order

To ensure there are no problems when it comes to applying for a mortgage for a new home, you need to be sure that your finances and credit rating are in order. For example, keep up with repayments on any loans or credit cards and it’s a good idea to start saving too.  Lenders will look more favourably on applicants who can demonstrate good money management.

If your family is going to help you with your deposit as gift in the form of a lump sum, you will need an accompanying letter confirming that it is a gift.  Parents can also act as guarantors, ensuring that repayments will be made even if their child is unable to make them.

For more information about mortgages for first-time buyers, call Carter Lee on 01792 416260 or email us with your specific enquiry at

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