First Time Buyer Mortgage UK // What You Need to Know
Published 2023-03-16
Are you a first-time buyer in the UK? Congratulations! The process of buying your first home can be exciting but also overwhelming, especially when it comes to getting a mortgage. In this video, we'll guide you through the basics of getting a first-time buyer mortgage in the UK.
First, we'll explain what a first-time buyer mortgage is and who is eligible for it. We'll also discuss the benefits of getting a first-time buyer mortgage, such as lower interest rates and deposit requirements.
Next, we'll explain how each type of mortgage works.
We'll also discuss the government-backed schemes available to help first-time buyers get on the property ladder, such as Shared Ownership. These schemes can provide financial assistance and make buying your first home more affordable.
Finally, we'll offer some tips on how to improve your chances of getting approved for a first-time buyer mortgage, including checking your credit score and saving for a larger deposit.
If you're a first-time buyer in the UK, this video is a must-watch! We'll help you navigate the world of first-time buyer mortgages and make your dream of owning your first home a reality.
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**MORTGAGE CHAIN LTD**
Mortgage Chain Website - www.mortgagechain.co.uk/contact
Book a free no obligation chat - link.alexkerr.co.uk/mortgage
Mentorship Program - First Time Buyer Expert
link.alexkerr.co.uk/First-Time-Buyer-Expert
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*SHOW NOTES & LINKS**
Check My File – Download Free Credit Report: link.alexkerr.co.uk/check-my-file
Contact: www.mortgagechain.co.uk/contact
Subscribe to my channel: youtube.com/c/alexkerrmortgage?sub_confirmation=1
*NEW! Download FREE First Time Buyer Pack
link.alexkerr.co.uk/First-Time-Buyer-Expert-free
QUOTING PORTAL (Solicitors, House Insurance and Surveys)
www.mortgagechain.co.uk/quoting-portal
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**CREDIT FILE CHECKS**
CHECK MY FILE - This is step 1 as a First Time Buyer. Check your credit file!
Free Credit File Check. Check your credit score from the outset! Use checkmyfile as they provide reports of all three credit file agencies the mortgage lenders use to credit score you, on one file (Experian, Equifax and Transunion)
checkmyfile offer a 30-day free trial which is then £14.99 a month thereafter and can be cancelled at any time.
Check my free credit score now:
link.alexkerr.co.uk/check-my-file
Correct Errors on Your Credit File:
Contact Experian: ins.experian.co.uk/contact
Contact Equifax: help.equifax.co.uk/EquifaxOnlineHelp/s/
Contact Transunion: www.transunion.co.uk/consumer/consumer-enquiries
Apply for Voters Roll: www.gov.uk/register-to-vote
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**BOOK A FREE CHAT**
Book a Free, No Obligation Call with Alex Book Now:
link.alexkerr.co.uk/mortgage
DISCLAIMER: This video and description contains affiliate links via the above checkmyfile, Uswitch and credit ladder links, which means that if you click on one of the product links and purchase the product, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for the support!
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**BAD CREDIT ?**
Download our FREE Adverse credit mentorship program below:
link.alexkerr.co.uk/credit-file-secrets
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FACEBOOK GROUP For First Time Buyers:
www.facebook.com/groups/firsttimebuyeruk
Say hi on social:
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Contact: www.mortgagechain.co.uk/contact
⚡ TODAYS QUESTION: ? Let me know! 👇👇👇
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#alexkerrmortgage #firsttimebuyeruk #mortgagebrokeruk
All Comments (21)
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Book a free no obligation chat with me here - link.coursecreator360.com/widget/appointment/mortg…
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Hi Alex, Super informative video thank you! However, I have one question: I’m 25 and I’ve never had a credit card, as I never wanted to spend money I don’t have… however, you mentioned that I’ll be assessed based on my credit score… I’m planning to buy within the next 2-4 years. What do you recon I should do? Do I need to even a credit card? What purchases should I use it for? Or is it even a necessity?
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Hello Alex, me and my partner just had a kid and we want to have a mortgage as first time buyers. We can only buy 200k house with 5%deposit. Is it better to wait to buy and rent instead or should we just go for it? Another thing, my partner is self employed less than 3years do you know any bank that would help us with an AIP? I’m very scared and confused we don’t know what we should do.
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hi alex,some banks will not accept mortgage aplication because im not a british citizen even though have the deposit ready and the right income,any reason why?
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Hi mate, I’m buying with my partner. Her credit score is literally flawless but I had a default about 5 years ago, should I wait until it expires or will her credit help us regardless? Also although the default will expire soon(ish) I still have an outstanding balance, will that mean I will receive a new default after the first one expires? Thanks in advance
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Alex i am new here in scotland i came in scotland from Pakistan just 10 months ago. I am now full tine employee and just using one credit card and paying timely payments. What you think i should go for mortgage and by which lender i can afford 10 percent deposit.
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Hi Alex, can I buy a new build with 5% deposit without using the deposit unlock scheme?
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Can a first time buyer ... Buy an old house and still be eligible for first time benefits
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Hi Alex, I recently moved from the US to England with my UK citizen wife and children. We're currently renting a 3 bed terraced house with 2 adjacent flats added on in 2015. Our landlords are selling all 3 units and I'm wondering if we could buy them all with the stated £1,200pm rent counting towards our (potential) income.
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Is it necessary to pay a deposit? Our current landlord has put our house up for sale, we want to get a mortgage to buy the house from him.
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Hi, great video, me and my partner have saved up for a mortgage but unfortunately we dont have good credit scores. Is it possible to get a mortgage?
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Do I need a crediit card to then go onto building a good credit score in order to secure a mortgage? Not a fan of credit cards :/
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Super educational video!
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New to this, could someone help me out. I have an excellent credit score, Also I could borrow 95% mortgage as a first time buyer of £156000, this deal is with my bank. Is it any good, should I go with a broker, how does it even work?
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do we need to be british citizen to be on voters roll?
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Hi Alex, very informative video. I'm Indian citizen, living in UK in skilled worker visa. I'm owning a home back in India. Will I be qualified for 'first time buyer ' , as I do not have any own house in UK. ?
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Alex, you need to speak with mortgage lenders, their system is silly. I have near perfect credit files, yet I couldn't get a mortgage for 41k mortgage.
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I don’t own a first home. I am considering buying to let first via a buy - to - let mortgage and then buy my first home subsequently with a first time buyer mortgage . Is it possible to do that?
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Is it worth buying a property now with current interest rates? Paying £660k over 30 years for a £380k property seems mental
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Still waiting for a video on the buy to rent scheme ... any plan on making one about that ?
