Being a first time buyer can be a very exciting but daunting or stressful process at the same time. The Team at LionHart know that feeling all too well and are here to alleviate any worry or concern to let you focus on the fun parts!
It is important to understand several key aspects of your situation to best assess your options, these include the available or expected deposit, estimated costs for 3rd party fees such as stamp duty and legal fees or even potential survey or lender charges. We have several great partner companies who can assist with these costs too if you would like to keep everything under one roof.
From there we will move to assess incomes and outgoings to not only determine what the lenders would be prepared to consider offering, but also to find a budget you are comfortable with too. Mortgages can normally be tailored to your circumstances by adjusting any fixed rate or product period, increasing or decreasing the mortgage term or by hitting different deposit levels to reduce the interest rate you will be offered.
Once you are out viewing properties you will likely be asked for an Agreement In Principle (AIP, also referred to as a Decision in Principle or Mortgage In Principle), but don’t worry, we’ll arrange that for you happily when you are ready, to make sure you are in the strongest position possible to secure your first home!
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495.
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