First Time Home Buyer Mortgage
Mortgage is much more complicated than we think when you are first time buyer. You may not know the total process involved to purchase a property, finding the most suitable lender or most suitable mortgage for you. With property price at current level, you may have managed to save small deposit for your first home. Which means that the best mortgage options may be restricted depending upon your situation.
That is where Mountview Financial Solutions can help you find the right mortgage deal for you. Our mortgage advisors are qualified and experienced in dealing with 1st time buyer options and they can help you find the most suitable mortgage deal for you.
Helps Available For 1st Time Home Buyer
There is help available for those who are struggling to get on the property ladder.
Shared Ownership Scheme offers prospective homeowners to buy a percentage of share in a property through housing association at a level that is affordable. You will be able to take mortgage on the share you are willing to buy and need to pay rent on the share you don’t own. You will be able to buy more share as your financial situation changes and you can afford large mortgage.
There is also a Government led affordable home ownership scheme available which is known as Help to Buy scheme. The scheme is available to first time buyers only and you will need 5% deposit and only available to buy new build homes. In exchange, the Government will lend you up to 20% of the value of the home or 40% if the property is in London. You will need a mortgage of up to 75% or up tp 55% if the property is in London.
Mortgage Broker You Can Trust
Our Client Testimonials
Anandini Devi
2024-03-16
Thank you Mountview Financial Solutions in securing our mortgage. Best wishes!
Shaheda Moni
2024-03-15
Prasant Manandhar
2024-02-15
Exceptional professionalism, offering detailed consultations and clear guidance on the advantages and disadvantages of each option. The customer service was outstanding, and I enthusiastically recommend it.
vino mahes
2022-04-30
Excellent service provided by Mount View Financial Solution. Ranjith has helped us throughout the process, and made sure the process was happening smoothly and perfectly. We truly recommend anyone to use their service.
Cyril Joseph
2021-08-12
We would like to thank Ranjit from Mount view Financial solutions for the excellent work he has done to help get our property. He is extremely dedicated, quick responsive, very helpful, friendly and professional. His work is very good and strives hard to achieve and excel customer expectations.
We are very happy with his services and would highly recommend anyone who is trying to get on the property ladder. We also wish Mount view financial solutions immense success.
Anu Shelar
2021-02-05
Ranjit has been an absolute star!
Our BTL remortgaging needs were challenging however, his patience, optimism and knowledge of the products available is second to none.
He was always there to talk us through and emails were answered swiftly.
Big thanks to you again, Ranjit. Anu (my wife) and I would whole-heartedly recommend Mountview Financial Solution.
Best wishes, Anu & Jitu
Amit Talukder
2020-07-26
I am a first time buyer and had no idea about the process and legal commitment. Mountview Financial Solutions helped me at every step. I deal with Ranjit Kumar Singh and found his service fantastic and very professional. He was always a phone call away and made the whole process simple. I would highly recommend Ranjit and Mountview Financial Solutions to all my friends and family.
My Legal Services
2020-07-01
Satayajit Roy
2020-06-27
He did guide me right way to get mortgage done
Bina Bhushal
2020-05-24
I’m so thankful to Mr. Ranjit Singh - Mountviews Finacial Solutions - helping all the way and getting us the mortgage !
He did fantastic job from start till end ! Awesome job, humble and kind personality, thanks again to Mr.Ranjit Singh are the best at what you do, will get in touch with you soon for the new mortgage soon.
vino mahes
18:02 30 Apr 22
Excellent service provided by Mount View Financial Solution. Ranjith has helped us throughout the process, and made... sure the process was happening smoothly and perfectly. We truly recommend anyone to use their service.read more
Cyril Joseph
17:31 12 Aug 21
We would like to thank Ranjit from Mount view Financial solutions for the excellent work he has done to help get our... property. He is extremely dedicated, quick responsive, very helpful, friendly and professional. His work is very good and strives hard to achieve and excel customer expectations.We are very happy with his services and would highly recommend anyone who is trying to get on the property ladder. We also wish Mount view financial solutions immense success.read more
Edolie Noble
05:36 19 Mar 21
Amazing mortgage broker service given by Mr. Ranjit Singh on my first property of London.Thank you very much!
Lucia Bruni
09:32 24 Feb 21
I have been very impressed by Mr Ranjit’s professionalism, their impeccable mortgage service.I would highly recommend... them remortgage and first time buyer.Thanksread more
Monica Hemsworth
11:18 18 Feb 21
Second time using Mountview Financial Solutions - Excellent mortgage advice, very professional service and experience.... Will have no hesitation in using again in the future. Highly Recommend for first time home buyer & remortgage.Thanks Mr. Ranjeetread more
Anu Shelar
18:43 05 Feb 21
Ranjit has been an absolute star!Our BTL remortgaging needs were challenging however, his patience, optimism and... knowledge of the products available is second to none.He was always there to talk us through and emails were answered swiftly.Big thanks to you again, Ranjit. Anu (my wife) and I would whole-heartedly recommend Mountview Financial Solution.Best wishes, Anu & Jituread more
Erick Brand
09:43 25 Jan 21
Mr. Ranjit Singh was an absolute star from start to finish. We were first-time buyers and he made the process really... very easy & simple and found us a good deal extremely quickly. He is extremely friendly, always responded quickly and we have been recommending him to others for mortgage in London.read more
Amit Talukder
21:41 26 Jul 20
I am a first time buyer and had no idea about the process and legal commitment. Mountview Financial Solutions helped me... at every step. I deal with Ranjit Kumar Singh and found his service fantastic and very professional. He was always a phone call away and made the whole process simple. I would highly recommend Ranjit and Mountview Financial Solutions to all my friends and family.read more
Bina Bhushal
19:02 24 May 20
I’m so thankful to Mr. Ranjit Singh - Mountviews Finacial Solutions - helping all the way and getting us the mortgage... !He did fantastic job from start till end ! Awesome job, humble and kind personality, thanks again to Mr.Ranjit Singh are the best at what you do, will get in touch with you soon for the new mortgage soon.read more
RENARS VITOLINS
18:57 24 May 20
The service we received was excellent. Mr.Ranjit was very supportive all through the mortgage process and kept us... updated on every stage.Excellent 5 stars 🌟 and we will use again in the future ! We definitely recommend Mountview Financial Solutions well done 👍🏻 and a big Thank you 😊 to Mr.Ranjit !read more
Minu Dongol
17:50 24 May 20
Mountview Financial Solutions are very professional at their work and Ranjit was very professional and got me best... deal in the market and the entire process was effortless.read more
First Time Home Buyer's FAQs
Suppose a person buys the only or primary residence and has never held a freehold or had a leasehold interest in a residential property in the UK or overseas. In that case, they are usually classified as first-time buyers.
In general, you should aim to save at least 5% of the price of the house you want to purchase.
According to UK law, a first-time buyer has never purchased a residential property anywhere in the world. It means you cannot have owned a buy-to-let property or your home, whether or not it had a mortgage.
The first step is a credit check; you must have a good credit history of timely borrowing and repayment of money borrowed if you are planning to get a mortgage from a high street lender. The affordability test is the second.
As a first-time buyer, you “must not have ever purchased a significant interest in a home or an equivalent interest in land situated anywhere in the world, alone or with others. Prepare your documents first by taking initial advice from a mortgage broker, have you deposit in place and manage your credit history.
In the United Kingdom (UK), the mortgage interest rates are based upon loan to value (LTV). The lower the LTV is, the lower the interest rates would be. Some lenders do offer slightly cheaper products for green mortgages.
Suppose a person buys only or primary residence and has never held a freehold or had a leasehold interest in a residential property in the UK or overseas. In that case, they generally qualify as first-time buyers.
Being on the voter registration list, paying off debt, and boosting your credit score can increase your chances of getting a mortgage. Use government programmes like Lifetime ISAs and the Help to Buy equity loan programme to increase your deposit.