First Time Buyer Mortgages
✓ You’ll have a dedicated broker who specialises in helping first time buyers
✓ Chat with your broker over WhatsApp for quick and easy updates
✓ Rest assured that you’re in safe hands, so kick back and enjoy the process!
Book your free 30-min call with one of our mortgage advisers at a time that best suits you
Buying your very first home can be both exciting and daunting! As a first time buyer you’ll probably have a few more questions than people who have already got a foot on the property ladder. Not to worry, our brokers are here to help you every step of the way.
Maximum borrowing
We carefully assess your income to get you the maximum loan size.
Explore all avenues
We’ll look at things from all different angles to find the most suitable mortgage for you.
Communication is key
We’re big on communication so you can rest assured you’ll be updated every step of the way.
8 Steps to getting the keys to your first home!
First Time Buyer FAQs
Here are some common questions and answers, alternatively you can call us on 01234 567 890
How much stamp duty do first time buyers have to pay?
If the property you are purchasing costs less than £425,000 you will not have to pay any stamp duty. If the property purchase price is more than £425,000 and less than £625,000 you will pay 5% stamp duty on the amount between £425,001 and £625,000. First time buyers purchasing property for more than £625,000 will not be entitled to any relief and will pay stamp duty at the normal rates.
I’m buying with my partner who isn’t a first time buyer, will we still get stamp duty relief?
To qualify for stamp duty relief everyone on the mortgage deeds must be a first time buyer. If one of you is not a first time buyer then neither of you will benefit from the stamp duty relief and will have to pay stamp duty at the normal rates.
What is an agreement in principle?
An agreement in principle is the first step to getting a mortgage. It is a document from a mortgage lender indicating how much they would be prepared to lend you based on the information you have provided. Once you have an agreement in principle you can begin house hunting. You can obtain an agreement in principle without doing a full credit check.
Our 5 Top Tips for First Time Buyers
1
Avoid taking out credit in the 6 months before applying for a mortgage as this could affect your affordability and borrowing capacity, for example like getting a car on finance or taking out a personal bank loan.
2
We know it’s tempting, but you should avoid using buy now pay later schemes like Klarna as most lenders do not like to see short term credit payments on your bank statements.
3
We’ve all been there… a friend transfers some money that they owe you with a funny payment reference like ‘money for drugs’ or ‘sugar daddy’, while we’re all human and most of us can see the funny side, mortgage lenders won’t appreciate the banter so keep those payment references clean to avoid delays or embarrassment!
4
Get your paperwork ready ahead of time to help speed up the mortgage application process.
5
We’ve all been there… a friend transfers some money that they owe you with a funny payment reference like ‘money for drugs’ or ‘sugar daddy’, while we’re all human and most of us can see the funny side, mortgage lenders won’t appreciate the banter so keep those payment references clean to avoid delays or embarrassment!
33 Cavendish Square,
London,
W1G 0PW
Unicorn Commercial Finance is a trading name of Unicorn Commercial Broker Limited
Co reg no: 11842350. Unicorn Commercial Broker Limited is a subsidiary of Unicorn Financial Services Limited 14244108. Registered address: 46b Hartburn Village, Stockton on Tees, TS18 5DS
Commission disclosure: We are a credit broker and not a lender. We have access to an extensive range of lenders. Once we have assessed your needs, we will recommend a lender(s) that provides suitable products to meet your personal circumstances and requirements, though you are not obliged to take our advice or recommendation. Whichever lender we introduce you to, we will typically receive commission from them after completion of the transaction. The amount of commission we receive will normally be a fixed percentage of the amount you borrow from the lender. Commission paid to us may vary in amount depending on the lender and product. The lenders we work with pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement