First Time Buyers

Buying your first home is an exciting experience, although securing a mortgage can seem daunting. We can help you plan your finances step-by-step and take some of the stress out of the process. We start by helping you work out how much you can borrow and planning your budget to make sure your repayments are affordable.

Finding The Right Mortgage

When choosing your first mortgage, you will have to decide how you want to repay it. With a repayment mortgage, your monthly payments cover both interest and capital, so at the end of the mortgage you will have paid off the full amount. With an interest-only mortgage, you pay only the interest and you will need another repayment vehicle to pay off the capital at the end of the mortgage term. We can talk you through the various options and help you decide which one best meets your needs.

Planning Your Budget

The amount you can borrow will depend on your financial circumstances including your income, outgoings, credit history, the amount of deposit you have available and whether you are buying alone or with others. You will also need money to cover things such as solicitor's fees, stamp duty, the valuation and moving costs, so it is important to include these in your calculations.

For more information about our mortgage and other IFA services, simply complete our enquiry form, send us an email or call our Cambridge office on 01223 357131 or our Norwich office on 01603 661156.