Who is it for?
The guide is written for first time buyers and tells you everything you need to know about getting a mortgage on your first home. See also our Q&A on Lifetime ISA - which launched in April 2017, with the goal of helping save people under the age of 40 for their first home or retirement.
If you already have a mortgage and want to reduce costs, consolidate debts or change contracts, read the Remoteage Guide instead.
Is there a guide?
If you want a sneak peek before you get the whole thing, here's a quick breakdown and introduction for each section of the guide ...
Chapter 1: Is Mortgage OK for Me?
This chapter urges you to think before acting. Is the mortgage right for you? Can you really afford it, or will you fight for every payment? Remember - renting is not a dirty thing. If it either continues, or your first home space is redecorated - it’s no brainer.
Chapter 2: Have you received enough deposits?
In this chapter, we will show you why the size of your deposit is important. It affects how much you can borrow and at what interest rate you can borrow. Also, find out if there are any government mortgage schemes that can help you climb the ladder sooner than you think.
Chapter 3: Increases the chances of getting a mortgage
Willie's Nellie goes on a long day in the days when lenders offer mortgages. Not only do you need to pay a fee to get the best mortgage agreement, you also need a very good credit score now. Still, there is hope. This chapter shows you how to maximize your potential.
Chapter 4: What Mortgage to Choose?
Do you know your fixed rate from your variable rate? Or should you choose only payment or interest? This chapter explains what a mortgage is in your home, how it is ‘secured’ and shows the different benefits and divisions of different types of mortgages.
Chapter 5: Mortgages for self-employed / contractors
If you are self-employed or a contractor, getting a mortgage is hard because you need cast-iron proof of what you have earned. It's easy for employers - they have payroll, but it's harder if you work for yourself or don't have a permanent contract. We tell you what they want to see before a mortgagee lends you money.
Chapter 6: Don't forget the fees
Make sure that when you make the sums, you add the full cost of buying and mortgaging the house. You should consider fees for mortgages, survey fees, attorneys' fees, and stamp duties for startups. You can try to reduce them, but you can't do them magic. This chapter tells you what you need to budget for.
Chapter 7: How to get a mortgage
It covers loneliness (if you are overconfident), two KYY questions to ask a broker, and how to find a top broker. Chances are that for most people using the right kind of broker would be the best bet, as they can quickly drop top deals and provide you with an extra layer of protection if things go wrong.
Chapter 8: Keep an eye on hard sales ...
In order to compensate for lower profits on title mortgage rates, some associated payers have increased the prices of related insurance products. This chapter tells you about the insurance policies you may face, the tough sales, what you should expect to pay, and how to get cheaper products.
Chapter 9: Quick Q&A of First Time Buyers Q.
Will the property lender invest in your property? What documents will you need to get together? How long should your mortgage run, and why is APR useless? This chapter may contain more questions about buying this first and your first home.
This is the end of the guide, but not the end of the mortgage journey. Monitor any of your friendships such as any of your financial products. Monitor Look for good deals, especially if you need redirects within a few years.
But - of course - happy hunting ... and why not try to find out why mortgage rates are available to first-time buyers with the best age of money-saving expert mortgage.
How will the guide come for free?
The reason we were able to offer this guide for free is that it sponsors fee-free mortgage brokers in London and the country. But don't worry, it has no effect on the content, depending on our vision of the best way you can get the cheapest mortgage deal you can.
Questionable
The guide was written with complete editorial freedom and it focused on finding the best deal for you. It was guaranteed to be in agreement with London and the country.
That being said, L&C is not stupid. We’ve independently listed it as a top broker for several years (see cheap mortgage search guide), so it was a very good idea that it wouldn’t come out too bad.
The reason for sponsoring the guide is that it has a one-time opportunity to promote its own services, including just to reassure you that you will not be sent any follow-up ads or marketing or any of that malarki.
In commerce, this is known as 'Lead Generation' payments, and in this case L&C publishes the site and pays a fee. See more about the ethical financial position of this site.
Is there another guide?
Yes! As well as all the online guides on this site, there is a selection of special PDF downloads:
Remote House
Remote Guide
For those who are after a short remote deal - you may not get it the first time. Get the full PDF guide: Remote Guide.
It is advisable to get expert advice before making any financial decision. When it comes to lend money from bank, one must definitely take the advise of subject matter experts who have knowledge about the market and the prevailing interest rates of different banks. If you are a contractor and look to mortgage, then AWS financial service are the best team to get in touch with to get contractor mortgage advise. They have a team specialized in getting mortgages for the contractors and can help you connect with the right bank or financial institution to meet your financial needs on best competitive lending rates that falls under your budget.
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