Guided First-Time Buyer Mortgage Advisors in Preston
Local First Time Buyer Mortgage Advice
- Multi- Award winning team
- Wide range of lenders
- Bespoke service, tailored to you
- Available at all hours, including after bath time!
Get in touch for an initial free, no obligation chat with an advisor about how we might be able to help.
Dependable First-Time Buyer Mortgage Company in Preston, Focused on Clarity and Confidence
About The Mortgage Mum
The Mortgage Mum is more than just a mortgage advisory firm. We are a team of experienced professionals who prioritise your needs and aspirations when it comes to home ownership. With a deep understanding of the local market in Preston and a commitment to client-centric service, we take pride in helping first-time buyers make informed decisions that align with their goals.
Eligibility Criteria for First-Time Buyers
Embarking on the path of buying your first home requires understanding a few key eligibility criteria. Lenders typically look at factors such as your income, credit history, and employment stability. It’s essential to demonstrate that you are capable of sustaining monthly mortgage payments. If your credit score needs a bit of work, don’t worry—our team is here to provide advice and support to help you improve it.
How Much Deposit First-Time Buyers Need
One of the most pressing concerns for first-time buyers is often the deposit. Generally, a minimum deposit of 5% of the property’s value is required, but aiming for around 10% can provide access to more favourable mortgage rates. Saving for a deposit can feel daunting, but remember, you’re not alone in this. There are various strategies and support available to help you reach your goal.
Speak to an expert
We will work at times that suit you and your family, carrying out appointments via video call, telephone or email, giving you the benefit of first class service, around your own schedule, and in the comfort of your own home. So let us handle your mortgage today and find out how well we can look after you, The Mortgage Mum way!
Types of First-Time Buyer Mortgages
Selecting the right mortgage can be likened to choosing the perfect pair of shoes: it needs to fit just right. For first-time buyers, there are several types of mortgages to consider. Fixed-rate mortgages offer stability with consistent monthly payments, ideal if you prefer predictability. Variable-rate mortgages might provide lower initial rates, but payments can fluctuate. At The Mortgage Mum, we will discuss your preferences and financial situation to find the best option for you.
Government Schemes for First-Time Buyers
Preston, like many other UK locations, benefits from several government schemes designed to help first-time buyers. The Help to Buy equity loan, for instance, allows you to buy a new build with just a 5% deposit. Shared ownership schemes are also available, enabling you to purchase a share of your home while paying rent on the remainder. We will guide you through the complexities of these schemes, ensuring you understand how they can support your first home purchase in Preston.
Local Insight: The Preston Housing Market
Situated in the heart of Lancashire, Preston offers a blend of vibrant city life and charming suburban neighbourhoods. The housing market here is diverse, with opportunities ranging from modern flats to traditional terraced houses and family homes. Prices can vary significantly, making it crucial to have a mortgage advisor in Preston who knows the area well. With a focus on development and community spirit, Preston is an excellent place for young professionals and families alike, offering a promising start for first-time buyers. Embarking on this journey can be challenging, but with The Mortgage Mum by your side, you’re choosing a partner who cares about your dreams and practical needs. We look forward to helping you turn the page to your new home in Preston.
Why The Mortgage Mum
- We're a team of mums who understand the juggle
- We're all expert advisers with a wealth of experience
- We work around you and your schedule
- We're here to make the mortgage journey easier for you
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