First Time Buyers

First Time Buyers Mortgage

Mortgage Review

Our in depth mortgage review takes into account your financial circumstances, the amount you wish to borrow and the flexibility you need. We’ll then explore a range of potential lenders.

Select your lender

We will present our findings to you, and support you choose the lender that matches your all needs and preferences, and support you through the application process.

Your mortgage confirmed

Finally, your mortgage is confirmed and your property dreams are well on their way to becoming a reality.

What Is a First Time Buyer?

A First time buyer is a person who is purchasing their first ever home and has never owned a freehold or have a leasehold interest in a residential property in the UK or overseas. They will usually need to provide a minimum deposit of anywhere between 5-10% of the purchase price.

How Much Can I Borrow?

Lenders will work out how much you can potentially borrow based on a few factors including: your income, outgoings, the value of your property and how much deposit you have. They will also check your credit history.

As your advisor, with the help of a budget planner, we’ll ensure that your mortgage, household expenses and protection costs are going to be affordable.

What is an Agreement in Principle?

An agreement in principle (AIP), also known as a mortgage in principle or decision in principle, is a preliminary indication from a lender that they would be willing to lend a certain amount of money to a borrower, based on the information provided. It’s not a formal mortgage offer but shows that the lender is likely to approve the loan, subject to further checks, documentation and property valuation.

Getting an AIP can help first-time buyers and others when making offers on properties, as it demonstrates to sellers that the buyer is financially capable of securing a mortgage. Typically, the lender will assess the buyer’s creditworthiness, income, and financial situation before issuing the AIP.

What Fees Will I Have to Pay When Buying a House?

There are a number of different fees, charges and taxes you will have to pay before you complete the purchase of your property. You’ll need to factor in these charges when you’re working out how much you can afford.

These fees can include a mortgage arrangement fee, valuation fee, conveyancing costs and stamp duty.

At Pearl Mortgage Solutions Ltd, we do not charge a fee for our initial consultation.

Our total fee is £500. We will initially charge you £250 at the point of successful submission of your mortgage application to a lender, followed by the remaining £250 upon completion of your mortgage.

Pearl Mortgage Solutions Ltd is an appointed Representative of PRIMIS Mortgage Network, A trading name of First Complete Limited. First Complete is authorised and regulated by the Financial Conduct Authority.

Registered Office : 290 Baldwins Lane, Hall Green, Birmingham, B28 0XB. Registered in England and Wales

Company Number: 10656314.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Most Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.

The guidance and/and or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers in the UK.

At Pearl Mortgage Solutions Ltd, our mortgage fees range from £0 - £500 depending on the type of mortgage application,

the complexity of your case and individual circumstances. We will discuss this with you at the earliest opportunity so you are fully aware.