First Time Buyer Mortgages

Buying your first home is an exciting but often overwhelming experience. At Riches Financial, we’re here to make the process as smooth and stress-free as possible. 

There are many questions you might be asking yourself: 

  • How much can I borrow?

  • How much deposit do I need?

  • What property price can I afford? 

  • How much will the monthly mortgage payments be? 

  • How long does the process of getting a mortgage take?

Whether you’re unsure about your budget, confused by the mortgage options, or facing unique circumstances, our expert advisers are here to guide you every step of the way. We’ll help you secure the best mortgage for your needs, no matter what your situation looks like.

Our role as qualified and experienced mortgage experts is to ensure we help you through this journey and find your the most suitable mortgage for your circumstances.

  Frequently Asked Questions

  • The amount you can borrow depends on factors like your income, expenses, and credit history. We will work with you to assess your affordability and find the right lender for your needs.

  • Most lenders require a deposit of at least 5% of the property value for first-time buyers. The specific amount will depend on several factors, such as your financial profile and the type of mortgage you select.

  • Yes, there are several schemes, such as Help to Buy, Shared Ownership, and the First Homes scheme, designed to assist first-time buyers in the UK. These schemes can help reduce the deposit required or make buying more affordable. We can help you determine which, if any, might suit your situation.

  • While a low credit score can make it more challenging, it doesn’t mean you can’t get a mortgage. Some lenders specialise in helping buyers with less-than-perfect credit histories. As your adviser, we can explore these options with you and guide you through improving your chances of approval.

  • The time it takes to process a mortgage application can vary based on factors like the complexity of your financial situation and how quickly documents are submitted. On average, the process takes about 4-6 weeks. We are committed to making the experience as smooth and efficient as possible, keeping you informed every step of the way, as open communication is one of our core values.

Get In Touch

Contact us for friendly, reliable advice. Initial consultations are free.