First Time Buyer

Buying your first home is both an exciting and daunting experience. At Key Mortgages we will help you as a first time buyer to take your first step on the housing ladder by providing you with a dedicated mortgage adviser who will guide you through every step of the journey. Your mortgage adviser will help you calculate how much you can borrow, how much it will cost and walk you through the home buying process from your initial consultation right through to completion. We even fill in all the paperwork to help ensure you have the best chance of being accepted.

Key Mortgages first time buyer mortgage service is flexible, which gives you the power to choose how and when you deal with us. On email, phone, Zoom and Microsoft Teams as well as at our new local Mapperley office we are here to help and make the process as stress free as possible for you.

How much can I borrow?

We will help you calculate exactly how much you can afford to borrow for your first home and ensure you can really afford it. We can advise on first home schemes which may be of interest to you and work out the affordability of a mortgage based on your individual circumstances.

What type of mortgage should I choose?

Fixed or variable, repayment or interest-only, joint or single application - we can explain the different types of mortgage available to you and help identify what suits you best.

How much does buying a house cost?

Key Mortgages will run you through all the costs of purchasing your first home so you won’t be hit by any hidden fees.

Questions & Answers

What paperwork will you need to get together?

For a first time buyer mortgage you will typically need to provide proof of income, 3 months of bank statements, Your latest P60 tax form, proof of deposit and an SA302 tax form if you are self employed.

How long a mortgage should you get?

Individual factors will help you decide the length of your mortgage. For example, this could be based on your age at the end of the term, as most lenders will not allow you to go into your retirement period.

Can I get a mortgage with a 5% deposit?

Yes, this is the minimum needed to get a first time buyer’s mortgage. However a bigger deposit will benefit your interest rates and monthly repayments. Your mortgage adviser will discuss in more detail and can then advise you of your options.