When you’re ready to take your first step onto the property ladder you will want to be sure you choose a mortgage suited to your needs.
AJM Financial provides fee free first time mortgage advice and support throughout the home buying process. We’ll take time to explain it all to you including how affordability is calculated and the things you should consider before making your decision.
As a whole-of-market mortgage broker you will benefit from a wide choice of options beyond the High Street and online providers.
Support at every stage of your house purchase
Support at every stage of your house purchase AJM founder, Andrew Morris, has a wealth of experience working with first time buyers. He will provide detailed support for:
- working out your transaction costs, stamp duty and legal fees
- deciding the most suitable type of first time buyer mortgage to meet your needs
- completing your mortgage application
- what an Agreement in Principle means
- what happens when your offer is accepted
- the information your mortgage lender will need
- what your conveyancer will need to know
- the purpose of the property valuation
- transferring funds to complete your purchase
Your deposit
As a first time buyer you can be in a very good position because you don’t have to sell another property. However, you will need to save a reasonable deposit for your new home.
The minimum deposit you will need is 5% of the purchase price, depending on the value of the property you want to buy. However, this is a relatively small deposit that is likely to limit the range of mortgage deals you can access.
If you can save 10% or 15% of the purchase price you will be able to choose from a wider pool of lenders and benefit from more competitive interest rates.
Ideally, if you can save 20% or more, you will have access to some of the best interest rates on the market and pay less to your lender over the course of your mortgage term.
Reliable advice
The mortgage advice provided for you will be tailored to your needs and the information you receive will be clear and transparent.
With the amount of information that’s now required, the process can be overwhelming, so having someone to guide and advise you at every step will make the whole process much easier.
You will have a single point of contact who is easy to reach whenever you need them and who will always be happy to answer your questions.