Countywide First-Time Buyer Mortgage Advisors in Devon
Local First Time Buyer Mortgage Advice
- Multi- Award winning team
- Wide range of lenders
- Bespoke service, tailored to you
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Get in touch for an initial free, no obligation chat with an advisor about how we might be able to help.
Personalised First-Time Buyer Mortgage Guidance Across Devon, Supporting Confident Home Buying
Eligibility Criteria for First-Time Buyers
Taking the first step onto the property ladder is exciting, but it’s crucial to know if you meet the eligibility criteria. Generally, first-time buyers are typically individuals or couples purchasing their first residential property and not owning any other property, either in the UK or abroad. As you consider buying your first home in Devon, your financial health, including credit rating and employment history, also plays a role in determining your eligibility for a mortgage.
How Much Deposit Do First-Time Buyers Need?
In the scenic counties of Devon, the deposit required can vary depending on the lender and the property’s location. Generally, first-time buyers are expected to provide a deposit of at least 5% of the property’s purchase price. However, offering a larger deposit can open doors to better mortgage rates. At The Mortgage Mum, we’ll help you explore your options and find the path that best suits your financial situation.
Types of First-Time Buyer Mortgages
There are several mortgage options available for first-time buyers in Devon, each with its own benefits. Fixed-rate mortgages offer the security of a set interest rate, while variable-rate mortgages can fluctuate with the market, potentially offering lower initial rates. More creative options, like offset mortgages, allow you to reduce your interest by linking your savings to your mortgage balance. Together, we’ll discuss these choices and help you find the most suitable mortgage type for your needs.
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!
Government Schemes for First-Time Buyers
The UK government offers a variety of schemes to support first-time buyers, many of which are applicable here in Devon. These include Shared Ownership, where you can buy a share of the property and pay rent on the remaining part, and the Help to Buy Equity Loan, which provides a loan towards your deposit for new-build homes. Each scheme comes with its own set of criteria and limitations, which we will navigate together to ensure you are optimising all available resources.
Local Housing Market Insight
Devon, known for its breathtaking coastlines and vibrant community life, presents a diverse range of housing options. The local housing market offers everything from charming cottages in picturesque villages to modern apartments in bustling towns. While property prices can vary, the appeal of living in such a beautiful and well-connected area remains high. Working with a mortgage advisor in Devon not only provides you with access to expert advice but also an understanding of the nuances of the local market. Whether you’re drawn to the peaceful allure of the countryside or the convenience of town living, there’s a home waiting for you. Let The Mortgage Mum be the guiding hand that helps you find it.
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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