First Time Home Buyers: Essential advice and help when it comes to buying your first house!
First Time Home Buyers have an exciting time ahead of them, yet at the same time, buying your first house can also be quite a daunting task!
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Read on for the lowdown on buying your first house, the things you need to look out for, and other essential information for First Time Home Buyers, along with details of how we might be able to help you!
Table of Contents:
First Time Home Buyers: Buying your first house!
So, buying your first house, and setting up home can be an immensely exciting time! Obviously, there is a lot to be taken into consideration, such as choosing the right area to live in, finding a suitable property, and finding one at the right price! These are all very important features when it comes to buying your first house. But there are also other more fun elements for first time home buyers, such as choosing the carpets, curtains, and decor.
There is also the one other factor when it comes to buying your first house, and its very important!
The little matter of your mortgage! Because your mortgage is likely to be the largest single personal transaction you will ever make, it's very important that you get that right too!
That's where Shire Direct can help you! We've a range of plans to assist first time home buyers. We'll help you to choose your mortgage product carefully, and ensure that you are appropriately protected against the unforeseen. Our service is detailed and comprehensive, and all our Mortgage advisors are professionally qualified. This provides important protection for first time home buyers who can be assured of professional standards and expert advice.
Important things to know before buying your first home
There are several important things you should find out before buying your first home, and these include:
- How much can I afford?
This is probably the singlemost important factor when it comes to buying your first house. Once you know your budget, everything else can start to fall into place! So, how do you find out how much you can afford? Well, this is where Shire Direct can help. We will assess your financial circumstances such as income, along with your monthly personal outgoings and any other monthly credit commitments to see how much you can afford. - Finding the right location
This is probably the next most important factor for first time home buyers. Its worthwhile assessing the quality and whereabouts of things such as Hospitals, Schools, Doctors and Dentists before you make any decisions, and it's also a really good idea to ensure the property you find has convenient links to the transport network, so accessibility to and from your workplace is as easy as possible.
We go into more detail with these things, and other aspects in our Essential First Time Home Buyers Guide, which as the names suggests is essential reading if your are buying your first house!
I'm a first time home buyer and have no deposit, is that a problem?
With modern-day pressures, we do of course recognise that few first time home buyers have the opportunity of saving for a deposit nowadays, and that's why we can offer a range of 100% mortgages products, thereby removing the necessity to put cash down! In many cases we can even add the attendant costs associated with purchasing a home, such as Stamp Duty, solicitors costs and fees etc.
Why not borrow your costs and fees and have cash for ANY purpose, with a Flexible 125% Mortgage scheme!
What's more, with our 125% Mortgage range of plans, we can even arrange an additional Cash Reserve of up to 25% of the property value (subject to a maximum of £30,000).
Additionally, there are no restrictions as to how you use the additional funds, and this could be ideal if you're a first time home buyer and want to modernise your new home, or you would like to start homeownership off free of all your existing credit commitments, and having just one manageable monthly payment!
Our Flexible Mortgage Plan 125% is a super product, and the benefits of the scheme include:
- Up to £30,000 Cash Reserve
- Use additional amount for ANY purpose
- Repay existing credit
- Income Stretcher: up to 5.9x Joint Income Multiplier
- Make Additional Payments (overpayments)
- Payment Holidays
- Pay more and complete your mortgage earlier
So the Flexible Mortgage Plan 125% range is designed to let you take control of your mortgage, and adapt to your needs - from helping you get on to the property ladder, to extending your home, to moving to a bigger place, or simply switching your mortgage from another lender - and providing the cash when you need it.
I'm a first time home buyer who has experienced credit problems, can you still help me?
The answer is usually "Yes"!
Our experience shows that lots of people have encountered difficulties at one time or another, and not necessarily always of their own fault. Redundancy, accident, illness, relationship breakdowns and employment changes can all have a devastating effect and severely disrupt financial planning. That's why at Shire Direct we have developed a range of schemes that will consider applications from first time home buyers who may have experienced credit problems with County Court Judgements (CCJs), credit defaults and arrears.
Help for first time home buyers - leave all the hard work to Shire Direct!
As a first time home buyer, we believe we have a great duty of care to ensure you understand the complexities of arranging a mortgage. If you prefer, we can usually arrange an appointment in the comfort and privacy of your own home, so there's no need to take time off from work. We'll then carefully explain the procedures and discuss the various options open to you. We'll help you to complete any forms, organise a valuation and even arrange a Solicitor. Our aim is to make life easier.
Well, if you are a first time home buyer, hopefully that has answered any initial questions you may have had about buying your first house. For further reading, don't forget to read our 'Essential First Time Home Buyers Guide' which is packed full of useful tips, advice and information.
For an in-principle decision over the telephone, why not give one of our qualified Mortgage Advisors a call on our Freephone line 08000 282 281. Our lines are open from 8am until 10pm, seven days a week, or why not enquire online anytime!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Over £2,000 worth of Argos Vouchers to be won in the Shire Direct Grand Prize Draw 2008! Terms and conditions apply - please read article for full details.
Claim £100 worth of Argos Vouchers upon completion of your transaction throughout 2008. Terms and conditions apply - see our Vouchers Special Offer page for full details.
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.