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Get your foot on the first rung of the property ladder

If you are planning to buy your first home in Bristol or the South West, the first step is to speak to an expert mortgage adviser who knows and understands the local property market. At Elite, we are your local mortgage experts.

Buying your first home is an exciting step but it can be overwhelming.

 

We’re here to help make this journey easier with advice that’s tailored to you and affordable.

 

After an initial free chat either on the phone, video call, or in person, we’ll help you determine how much you can borrow and guide you through the process step-by-step:

1. Free initial consultation: We understand your situation and what you’re looking for.

2. Take the hassle away: We search the market for the best mortgage options.

3. Collate your options: We will send you a summary of our findings and allow you time to search for your dream property.

4. Confirm the details: We will create an Agreement in Principle (AIP).

5. Secure and confirm: Once you have an accepted offer, we complete the application and secure your mortgage.

We can also help with providing a Solicitors quote if required as well as looking at forms of protecting the mortgage such as Life cover and or Critical Illness Cover, Income Protection, Family Protection and protecting the property such as Buildings and Contents cover.

As an independent mortgage advice firm in Bristol, we compare rates from all lenders to find your ideal mortgage, often at better rates than banks.

We’re here to support you every step of the way until you’re in your own home!

Call today. Our First-Time Buyer mortgage experts are ready for your free initial consultation.

First Time Buyer Information
If you are thinking about buying your first home, you are probably finding the whole process of choosing the right mortgage and buying your ideal home rather daunting So, what do you need to know to get on to the first rung of the property ladder?

The first step is to contact us, and our expert mortgage advisers will provide you with completely independent advice on the mortgage options that are available to you. We won’t charge you anything to look at the options available and inform you of how much you are likely to be able to borrow.

In most cases we will provide you with figures you will need prior to even looking at properties. We will give you an indication of costs involved, monthly mortgage payments and any associated products or services you may need.

How much can you borrow?
The amount of mortgage you can get depends on your income.

Income multiples do vary. As a rough guide, a typical multiple is four times your income. This figure could be higher or lower depending upon your individual circumstances and different lenders’ criteria. Some lenders do not use income multiples at all and will lend based on affordability.

Once you add to this the amount that you can afford to pay as a deposit, you have the amount you can pay for your first property. Some lenders offer very good deals for first time buyers, so it’s always worth asking our independent mortgage advisers to research the market on your behalf.

What other costs should I budget for?

It is also worth remembering the additional costs, on top of your deposit and mortgage that you will be expected to pay.

 You will usually have to pay for the survey and the valuation of the property as well as solicitor’s fees. Some lenders will offer deals whereby some of these services are provided free of charge. You may also have to pay an arrangement fee for the mortgage and in some cases a Higher Lending Charge – which is insurance for the lender for you defaulting on your payments when your property is worth less than the loan. There’s also Stamp Duty Land Tax. But don’t worry, we can talk you through these costs in more detail during a free initial consultation.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOANS SECURED AGAINST YOUR PROPERTY