Over the last 14 years we’ve helped a lot of people purchase their first property  and they have always thanked us not only as their independent mortgage broker but for also guiding them through the complex property buying process facing many first time buyers.

To help first time buyers we have asked one of our own mortgage brokers, Kamal Mattu, for some practical guidance on buying your first home.

“As a first-time buyer what do you need to know about the process of buying your first home? For instance, when do you make an offer to buy a property and at what stage do you actually apply for a mortgage. But before you even consider these steps how about these points:

  • Do I need a deposit or can I buy my home without one?
  • What are the affordable schemes to get on the property ladder?
  • How do you find the most suitable lender for your circumstances?
  • Can you afford your monthly mortgage repayments?
  • What are your additional costs in buying a home?
  • What’s the difference between buying freehold or leasehold?
  • The mortgage application process. How long does it take?

It can all be a very exciting as well as perhaps daunting time when you are looking to buy and run your own home because that is what is involved.

There are so many different types of mortgages, some schemes where you need no deposit. You will however still need to pay your solicitors costs, possibly stamp duty tax, any valuation fees and what about the removal company.

Unless you have lived away from home having to buy food, learn to cook, pay gas, electric, council tax, also to have money to decorate or improve the house putting your mark on it. And let’s not forget to still have money to go out with your friends and family. It is important to budget and make sure you can afford your mortgage payments.

My Tips on what you should do.

  • Speak to friends and family first
  • Consult an Independent Mortgage Adviser (not just your Bank).
  • Save up some money as you will need this for all sorts of expenses.
  • Work out your finances (all your monthly outgoings) and what you can afford for your monthly mortgage repayments.
  • Be realistic and ensure you have enough income for that new car or holiday or for an unforeseen emergency.

What I am saying to you is very simple. You seek advice from a mechanic when your car goes wrong and a good mechanic might provide some useful maintenance tips to stop the problem happening again so do the same about your finances. You may be surprised what else an expert independent mortgage broker can do for you too other than just find you the best deal.

If you are considering buying your first home and would like to speak to one of our team of independent mortgage brokers then please call Kamal on 0800 6342 111 or email This email address is being protected from spambots. You need JavaScript enabled to view it.”.