First Time Buyer
With Steel and Co
OUR MORTGAGE ADVISOR IS HERE TO HELP YOU AS A FIRST TIME BUYER
Embarking on the journey to buy your first house is a significant milestone. At Steel and Co, we are dedicated to guiding you through this process, ensuring you have all the necessary information and support to make informed decisions. We understand that this can be an overwhelming experience, which is why our team of experts is here to help you every step of the way.
Our 'help to buy' scheme is an excellent starting point to buy your first homes. The initiative offers a government-backed equity loan, providing a much-needed boost to your deposit, and making the dream of homeownership more accessible. By leveraging this scheme, you could find yourself on the property ladder sooner than you anticipated.
We also offer a shared ownership option, which allows you to purchase a share of your house and pay rent on the remainder. It's a cost-effective approach to buy your first home and can be particularly beneficial if you're struggling to save for a large deposit. This scheme can help lower your monthly payments and make the property ladder more accessible.
Understanding your budget is a critical step in the first time buyers process. Our free online mortgage calculator tool can provide you with an estimate of how much you may be able to borrow, based on your income and outgoings. This can give you a clearer idea of what type of properties you can afford and help you refine your property search.
Your credit score plays a significant role in the mortgage application process. It can impact the type of mortgage you are eligible for, the interest rates you'll be offered, and the amount you can borrow. We recommend checking your credit score early in the process to identify any potential issues that could affect your mortgage application. If needed, we can provide guidance on steps to improve your credit score.
When you're ready to start viewing properties as first time buyers, it's crucial to remember that the purchase price is just one aspect of the costs of buying a home. There are additional fees to consider, such as conveyancing, survey costs, and stamp duty. Understanding these costs upfront can help you budget effectively and avoid any financial surprises down the line.
One key aspect of the home buying process is the estate agent. They are your link to the properties available on the market and can provide invaluable advice and support. However, remember that the estate agent works for the seller, not the buyer. Therefore, it's essential to have a mortgage advisor on your side, providing impartial advice and guidance.
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At Steel and Co, we are committed to providing a comprehensive service to first-time buyers. We don't just offer mortgage advice; we're here to support you through the entire process, from understanding mortgage terms and conditions, to explaining the conveyancing process, and even offering tips on moving day.
We pride ourselves on being transparent and honest in our dealings. Our website is a treasure trove of resources, with news articles, weekly updates, and FAQs to help you navigate the first time buyers process. We're also available to answer your questions over the phone or via email. And with our offices conveniently located across England, you can also arrange an in-person meeting.
Remember, the journey of getting your first home is not just a financial commitment; it's also a significant emotional investment. We're here to help make this process as smooth and stress-free as possible, so you can focus on the exciting aspects of purchasing your first home.
Use Check My File, as this will produce a report with the 3 main credit providers that lenders will check themselves- Experian, Equifax and TransUnion and they are all in the same place, and free of charge for the first month (£14.99 a month thereafter if not cancelled) if you don’t already have an account with them.
This is a referral link and Steel and Co Financial services may receive a small fee from this site.
You may be charged a fee on submission of an application to lender- Just to explain why we charge a fee at this point; This fee is to cover the cost of our time advising, researching and processing your mortgage journey, which can sometimes take several months, and we are sure you agree that’s a long time to go without getting paid for a job.
We charge a broker fee for advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed upon with you at the earliest opportunity. There is no charge for your initial meeting.