First Time Buyer Mortgage | Surrey | Suffolk

First Time Buyer

first time buyer
first time buyer mortgage
first mortgage

Investing in Your Future

At AIMS we are proud to help first time buyers take their first steps onto the property ladder. Buying a home maybe the largest financial transaction you are ever likely to make and it’s more than just about owning your own bricks and mortar, it’s about putting money into a mortgage rather than paying rent which puts you in control of the place you live in. The prospect can be both daunting and confusing but our aim is to guide you through the process from start to finish.

There are advantages being a first time buyer, interest rates tend to be lower and you are more appealing to sellers because there is no chain so with our access to exclusive first time buyer mortgage products, sourced from the whole of the market, we will give you honest and transparent advice in finding the best mortgage to suit your needs.

Your deposit:

Typically first-time buyers will have a relatively small deposit to put towards their mortgage. This on average is around 10% to 15%, but there are mortgages and government-backed initiatives, such as the Help to Buy scheme, which will allow you to get a mortgage with as little as a 5 percent deposit.

Your finances:

One of the most important aspects of home-buying is to check your finances and budgets right at the start. What level of monthly payments will you be able to maintain? And if you’re combining budgets with a partner, what will you be able to afford if one of you stops earning for whatever reason - with good planning, we can make sure you’re in a good position.

Help to Buy:

One option available to potential purchasers is the ‘Help to Buy’ scheme to give buyers a helping hand onto the rungs of the property ladder, on a property up to £600,000 in value. You can be either a first-time buyer or looking to scale up. It’s designed to assist people who have the income to make regular mortgage repayments, but whose deposit is not necessarily substantial enough to allow them to buy their own home conventionally. There are many factors to consider such as your eligibility to be accepted onto the scheme along with the ongoing costs and implications of taking the loan but we will assist you to ensure you gain a full understanding of the scheme and what it entails.

Available on qualifying new build properties and administered by the locally appointed agent, the Help to Buy scheme provides an equity loan of up to 20% towards the purchase of the property, therefore you would only need to put down a 5% deposit. The benefit of this is that a smaller mortgage is often required eg.75% and so the monthly payments are more affordable.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF COMMERCIAL MORTGAGE AND MOST FORMS OF BUY TO LET MORTGAGE.

We offer a comprehensive range of mortgage products from across the market. We offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender. 

For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. For examples, a further advance from your existing lender or an unsecured loan (e.g. a personal loan). For those seeking a ‘Retirement Interest Only Mortgage’, a ‘Lifetime Mortgage’ may be available and more appropriate for your needs.

Principal: Peter Varney

Aldershot Independent Mortgage Service (Aims) is a trading style of Peter Dane Varney which is an appointed representative of TenetLime Limited, which is authorised and regulated by the Financial Conduct Authority. TenetLime Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266.

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

First Time Buyers Mortgage | Farnham | Surrey | Framlingham | Suffolk