- Preston: 01772 620000
- Southport: 01704 829888
- Garstang: 01995 676211
Recognised for excellence in mortgage advice, ensuring you get expert service you can trust.
Thousands of happy homeowners have rated us 5 stars for our transparent, hassle-free mortgage support.
We compare thousands of deals from over 100 lenders to find the very best mortgage for you.
We are FCA-regulated and accredited by industry-leading bodies, ensuring professional and ethical mortgage advice you can trust.
Award-Winning Mortgage Experts
Recognised for excellence in mortgage advice, ensuring you get expert service you can trust.
We Have A 5-Star Rated Service
Thousands of happy homeowners have rated us 5 stars for our transparent, hassle-free mortgage support.
Access To Whole Market Access
We compare thousands of deals from over 100 lenders to find the very best mortgage for you.
We Are Fully Regulated & Accredited
We are FCA-regulated and accredited by industry-leading bodies, ensuring professional and ethical mortgage advice you can trust.
Buying your first home is an exciting process, but we recognise it can be scary, too. If you’re unsure where to start with applying for a first time buyer mortgage, a professional broker can help. Our team of mortgage specialists is on hand to make sure you get the best rates.
A mortgage is a type of loan that lets you buy a property. The money you borrow is secured against the property, so you need to make sure you can meet your repayments each month.
For this reason, finding the right mortgage lender, loan type, and interest rate is essential. You’ll also want to select the best repayment term for your requirements — this is the number of years your mortgage is spread over.
This is also why affordability checks for mortgage applications can seem extensive. When you apply for a mortgage, you’ll need to be able to:
Curious about how much you may be eligible to borrow? Try our mortgage calculator tool.
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Help You
When you start shopping around for a mortgage, it’s helpful to have an understanding of the types available. There are several mortgage types, each offering different benefits.
A fixed rate mortgage means that the interest rate you pay will stay the same for a set amount of time, which can be helpful for budgeting. This tends to be between two and 10 years, with five-year fixed-rate mortgages being a popular choice for first-time buyers.
With this type of mortgage, the interest rate can vary. Sometimes this can work out cheaper than a fixed-rate mortgage, but you have less predictability.
Tracker mortgages are tied to the Bank of England’s base rate, so the interest you pay will increase and decrease with it.
With an interest-only mortgage, you pay monthly interest repayments but not the borrowed mortgage money itself (the capital). So while your monthly payments will be lower than other mortgage types, you’ll need to be able to pay the loan in full at the end of your mortgage term.
If you’re buying your first property in order to rent it out, rather than live in, you’ll need a buy to let mortgage. Most buy to let mortgages work in a similar way to interest-only mortgages.
Learn more about Buy To Let Mortgages.
Shared ownership schemes allow you to own a share of a property and pay rent on the rest. You can take out a mortgage on the share that you own. Shared ownership properties can be helpful for first time buyers who don’t have the upfront funds to pay a deposit on the full property value, allowing you to get a foot on the ladder.
As you can see, there are some big choices to make when selecting a mortgage. With so many things to consider, it can be tricky knowing which options make the most financial sense for your circumstances.
A mortgage broker can provide invaluable first-time buyer advice to ensure you feel confident in your decisions. With a mortgage broker on your side, you can:
Purchasing your first property is an adventure, and the team at Key Mortgage Advice is here to help you set off in the right direction.
Our expert mortgage brokers have years of experience in helping first-time home buyers enjoy the perks of finding their dream property with minimal stress.
We can also provide advice on commercial mortgages for businesses and remortgaging if you’re a homeowner looking to move.
Whatever area you need guidance on, please don’t hesitate to get in touch with our mortgage brokers Preston, Southport & Garstang. Book your free telephone or in person appointment, and we’ll be happy to help.
Frequently Asked Questions
A mortgage in principle (sometimes called a MIP or an agreement in principle) is an initial quote of how much a mortgage provider is willing to lend you. It’s not a guarantee, but it works as a placeholder so you can understand your available budget.
To secure a mortgage, you’ll need to pay a deposit. The minimum amount is 5% of the property price, however, many lenders expect a 10% deposit.
Stamp Duty Land Tax (SDLT) is a type of tax paid when buying a property or plot of land in England or Northern Ireland. First time buyers are exempt from this tax unless the property is over £500,000. If you’re buying your first property in Scotland or Wales, there are different systems in place, so it’s worth discussing any relevant taxes with your mortgage advisor.
How Much Can I Borrow?
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Book a no-obligation consultation with us on: 01704 829888.
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Tip 3: What can I provide as proof of ID?
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Tip 4: How do I need to evidence my deposit?
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Videos
Tip 1: Get your documents ready
Watch this video to learn more.
Watch More
Videos
Tip 2: Can I use online bank statements?
Watch this video to learn more.
Watch More
Videos
Tip 3: What can I provide as proof of ID?
Watch this video to learn more.
Watch More
Videos
Tip 4: How do I need to evidence my deposit?
Watch this video to learn more.
Watch MoreKey Mortgage Advice Ltd
Key Mortgage Advice Ltd is authorised and regulated by The Financial Conduct Authority. Registered in England.
Company Number 04837523
Trading Address: 276 Station Road, Bamber Bridge, Preston, PR5 6EB
Registered Address: 276 Station Road, Bamber Bridge, Preston, PR5 6EB
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
We are entered on the Financial Services Register No 312930 at
https://register.fca.org.uk/
Financial Ombudsman Services
If you have a complaint or dispute with us, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us either in writing, by telephone or email.
Please be assured we treat complaints seriously. For your protection if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (‘FOS’). Please see the following link for further details:
https://financial-ombudsman.org.uk/
https://avistaifp.co.uk/financial-ombudsman-services/
Book a free consultation with our lovely team: with over 20 years experience, we’ll give you peace of mind and find you the best deal on the market!
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Please Note: These figures are only illustrative. All mortgages are subject to the applicant(s) meeting the eligibility of the specific lender.
Mortgage Amount: £100,000.00
Interest Rate: 5%
Mortgage Period: 20 years
Monthly Payment: £0.00
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