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Why choose Endsleigh for First Time Buyer Mortgages

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First time buyer have a large selection of special mortgages available to them. Tracking down the mortgage that best meets your budget and needs is therefore very important.

Before looking at the different types of mortgage available, there are a few questions to consider.

Who do lenders regard as a 'first time' buyer?

This varies from lender to lender. For many, a first time buyer is anyone who has never been the owner of a property. For others, a first time buyer is someone who has previously owned a home but has been off the property ladder for three years or more.

What matters most is the level of security a buyer can offer against a loan. Obviously, lenders like to feel safe in the knowledge that they will be repaid, and the more you can do to prove this ability, the higher the loan you are likely to be offered.

Do I need a deposit as a first time buyer?

Not always. Mortgages of 100% of the value of the property can be arranged. You might even qualify for a mortgage of up to 125% of the value of the property, or to have legal fees and stamp duty included in the sum you borrow.

How would paying a deposit help?

The ability to pay a deposit is always useful, as it reduces the overall amount of your loan and therefore reduces the interest you will pay over the loan period. A deposit can also increase the number of mortgage options open to you, and therefore help you find a more competitive deal.

Are mortgages of 100% and over a good idea?

You need to be aware that if you borrow more than the value of the property, you may find your loan hard to repay if you had to sell soon after the start of the mortgage period. The outstanding loan could be more than the value of the property. But over the long term, provided you make regular repayments and the property increases in value, you should create equity - i.e. your property will be worth enough to repay your loan and may also leave you with a profit.

A very impressive mortgage service, Endsleigh have been extremely helpful throughout our mortgage application - I wouldn't hesitate to consult with you again in the future.
AG, Kingston Upon Thames

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Endsleigh Financial Independent Tailoring is a trading name of Endsleigh Independent Financial Services Limited which is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Independent Financial Services Limited. Company No: 4132605 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.