first time buyers in welling, kentFIRST TIME BUYERS IN WELLING

Our consultants regularly provide free mortgage advice to first time buyers in Welling, Kent and nearby areas. These include Dartford, Bexley, Bexleyheath, Bluewater, Blackheath, Orpington, Sidcup, Swanley, Chislehurst and Bromley.

We know it can be exciting thinking about purchasing your very first home. We also know that it can be difficult to get on the property ladder. Our consultants have access to 5% deposit mortgages for First Time Buyers, and to mortgages for affordable housing schemes like, shared ownership and the Government’s Help to Buy: ISA and Equity Loan

Shared Ownership

Using the Help to Buy: Shared Ownership, first time buyers who are unable to afford the full 100% mortgage on a home have the chance to buy a share of that home (between 25% and 75%), and then pay rent on the remaining share with the option to buy further shares of the house in the future when affordable. There are also options under the Help to Buy: Shared Ownership scheme for older people and people with disabilities.

Saving for your deposit

Under the Help to Buy ISA scheme a first-time buyer can save up to £200 every month tax free. The government will add a 25% top up. So, if you save the maximum every month the government will add in £50 (up to a maximum £3000 on savings of £12,000). These are given individually rather than per household, so if you and your partner are saving and both first-time buyers, you could have one ISA each and therefore potentially earning £100 from the government each month towards your home, until you reach your individual limits.

Help to Buy: Equity Loan

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

We’re here to help

We’ll spend time getting to know you and your specific circumstances so that we can find a scheme that’s right for you. Talk to us to find out:

  • How much you can borrow
  • The extra costs you need to consider
  • How to protect your investment
  • Which mortgage deal is most suitable for you
  • Most importantly, we’ll be here, by your side, throughout the process.

Call us today for expert, friendly advice!