Moving 1st Time Buyers Across Northern Ireland
Mortgages for first time buyers can be complex and confusing.
So we do everything we can to make getting a first time home buyer loan easy and straightforward.
We've even put together a first time buyer's guide designed to explain the basics.
But we also understand that all first time buyers are not the same. So where we really come into our own is in giving bespoke, tailored advice to suit your individual circumstances.
Use our handy guide to check if you're ready for a first time buyer home loan - then give us a call. We'd be happy to answer any of your questions, any time!
Can you afford the monthly payments?
Affordability is key to ensuring you can really enjoy your new home without worrying about where each mortgage payment is coming from. Lenders will carry out strict affordability checks and 'stress test' your ability to make the repayments if interest rates were to rise or your circumstances change.
BPS Mortgage Tip: Use the Money Advice Service's mortgage affordability calculator to get a clear idea of what you can comfortably borrow. Or ask us - we can help you work out what you can afford.
How much of a deposit do first time buyers need?
Depending on the lender, you will need to have anywhere between 5% and 25% deposit.
This can vary from lender to lender and from mortgage product to mortgage product.
Where the BPS team is really useful is in identifying which lenders are most favorable to your individual circumstances - saving you lots of legwork!
How long will it take?
There are so many variables in the mortgage and home buying process that each application and purchase can be very different.
Whatever your individual circumstances, the BPS team are experts at bringing everything together, liaising with lenders on your behalf to keep the process moving smoothly.
From beginning to moving in, we will:
- Establish that you meet the criteria and affordability requirements.
- Secure the most suitable mortgage deal for you from a comprehensive panel of lenders.
- Make the application process as simple - and fast - as it can be.
- Process all paperwork and documentation.
- Liaise with your lender and solicitor.
- Ensure your official offer has been sent to your solicitor who will complete the purchase.
What other things do you need to consider?
Buying your first home may also incur costs such as valuation fees, stamp duty, solicitor's fees and survey costs - and that's before you get to the nice things like furnishing and decorating!
It all adds up, so our team's advice in helping you to plan for these costs can make all the difference in making your dream home a reality.
Ask us about advice and recommendations on insurance to ensure your new home and family are protected.
For your Fee Free Mortgage Consultation call us on 028 3833 8000 or visit the BPS team at our offices in Moira - or we can come to you. We already help clients across Northern Ireland and the UK.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We do not charge a fee for our services, we receive commission from the provider.