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Declaration: I have read the section above and understand that by submitting my details you will hold my personal data on your database. An adviser may then be in touch by telephone, mobile device (including SMS and MMS) or email to discuss my potential requirements.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstance is the fee is up to 1% but a typical fee is 0.3% of the amount borrowed. *Terms & Conditions Apply
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Serving All of the UK including; England and Scotland
BUYING YOUR FIRST HOME?
The process of buying your first home may be daunting. A Carrington Adviser will walk you through each step in the mortgage application process and help to simplify it for you. We will also help get you an amazing mortgage rate as we have access to a wide range of first time home buyer deals.
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Find the Best Mortgage Deal
At Carrington, we have access to a wide variety of deals to suit your needs.
Request an Appointment
Receive advice from one of our qualified mortgage advisers at no upfront cost.
Start your Application
You can begin the process either over the phone or in branch. Fill out the form to get started w/Carrington.
The Process of Buying Your First Home
See below for some helpful tips to buying your first home in England
1
Just going to your existing bank means you’ll only be offered its products. That’s where a good mortgage broker like Carrington can help. We are not a lender but a broker with ties to various lenders. Therefore we can assist you much more quickly than waiting to speak to someone at a bank.
Find a Mortgage Broker
Apply for an AIP
Secondly, you’ll need to find out how much you could borrow based on your financial incomes and outgoings. Fill out the form above to apply for an Agreement in Principle through Carrington, there is no charge for this service.
2
In England and Wales, the common way to put in your offer will be through your estate agent. Most estate agents will welcome offers at any stage while the property is marketed. On occasion a property will go to sealed bids. In this instance you are only able to submit your best and final offer.
Make an Offer
3
That all depends on whether or not you want to be certain that your mortgage payments won’t change over time. Often first-time buyers go for a fixed rate mortgage because this gives them peace of mind that the amount they pay each month will remain the same during the term of the deal (typically between two and five years). But if you don’t mind the fact that payments could change, then you might want to look at variable mortgages too.
What type of mortgage should I choose?
What kinds of variable mortgages are there?
Tracker mortgages tend to be the most popular kind of variable mortgage deal. As the name suggests, the rate usually tracks the Bank of England base rate, plus a set percentage. There are also discounted deals, which typically give the borrower a discount off the lender’s standard variable rate for a set period of time, and capped rate mortgages, which offer a variable rate that cannot go above a certain level.
How much can I borrow for a first time home buyer mortgage?
The amount you can borrow is determined by an affordability assessment. We will look at your income, outgoing payments, deposit and other factors. You generally need to save for 5-20% of the purchase price as a deposit. A Carrington Adviser can answer your questions and help you get on the path to purchasing.
Frequently Asked Questions - First Time Home Buyer's Guide
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01592 779 825
BUYING YOUR FIRST HOME?
Serving All of the UK Including England and Scotland
Carrington Mortgage UK Limited is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.
Carrington Mortgage UK Limited. Registered Office: 1 George Square, Castle Brae, Dunfermline, Fife, KY11 8QF. Registered in Scotland Number: SC312023
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