These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which ispersonal to your circumstances, will be provided if a recommendation for a mortgage product is made.
These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which ispersonal to your circumstances, will be provided if a recommendation for a mortgage product is made.
Use our affordability and repayment calculators to get a clear sense of what you can borrow and what your monthly payments might look like. Factor in all of the costs involved in buying — not just the deposit — so you have a realistic picture of what you need to save.
Before you apply for a mortgage, it’s worth reviewing your credit file, paying down any outstanding debts where possible, reducing credit card limits you don’t need, and making sure you’re registered on the electoral roll. Avoiding new credit applications in the months before a mortgage application is also advisable.
A good adviser will assess your full circumstances, give you a realistic borrowing figure, and identify the most suitable products and lenders for your situation. They can also provide a Decision in Principle, sometimes called an Agreement in Principle, which confirms in broad terms that a lender would be willing to lend to you, and which many estate agents will ask to see before accepting an offer.
With a Decision in Principle in hand, you can start viewing properties with confidence, knowing what you can afford. When you find the right home, you make an offer through the estate agent.
Once your offer is accepted, your adviser will submit a full mortgage application. The lender will carry out a valuation of the property and a full underwriting assessment before issuing a formal mortgage offer.
You’ll need a conveyancing solicitor to handle the legal side of the purchase — carrying out searches, reviewing contracts, and managing the transfer of ownership. Your adviser or lender may be able to recommend one, or you can find your own.
Once searches are complete and all parties are satisfied, you exchange contracts with the seller. At this point the transaction becomes legally binding and you pay your deposit. A completion date is agreed.
On completion day, the mortgage funds are transferred, the remaining balance is paid to the seller, and you receive the keys to your new home.
Our smart affordability tools take into account your income, outgoings, and financial goals to give you a clear, honest picture of your borrowing power, so you can search with confidence and find a home that truly fits your life.
Take the guess work out and start comparing. Our platform pulls live mortgage rates from across the market, so you can instantly see what your monthly repayments could look like, side by side, in real time. Whether you’re a first-time buyer, moving or remortgaging, find the deal that works hardest for your money.
You’ve done the hard work, now let’s make it happen. Speak to one of our mortgage experts within 24 hours and get personalised advice that turns your research into reality.
Any Chat Mortgages customer that takes out a mortgage with us once, gets our service fee-free every time they need mortgage advice. For ever and ever. So you get the same five-star service you experienced the first time around, at no additional cost.
Professional tools designed to help you understand your mortgage options, compare rates, and make informed decisions about your financial future.
Still have questions about mortgages, rates, or the application process? Our FAQ section covers most queries
Not found your answer?
Yes. Several mainstream lenders offer 95% LTV mortgages to first time buyers, and some offer 100% LTV mortgages, and the government’s Mortgage Guarantee Scheme has helped expand the availability of these products. The rates at 95% LTV are higher than at lower LTV bands, and the range of products is narrower, but it is entirely possible to buy with a 5% deposit. Our affordability calculator uses current average rates at 90% LTV as its baseline, if you’re working with a 5% deposit, rates may be slightly higher than the estimate shown, and an adviser can give you a more accurate picture.
No, lenders don’t use a single universal credit score, and what one lender considers acceptable another may not. What matters is the overall picture: a history of making payments on time, low levels of outstanding debt relative to your credit limits, no recent missed payments or defaults, and being registered on the electoral roll. Minor historic blemishes are unlikely to cause significant problems with most mainstream lenders. More serious or recent credit issues will narrow your options but don’t automatically prevent you from getting a mortgage. An adviser can give you a realistic assessment of your position and help you identify the most appropriate lenders.
A Decision in Principle, also called an Agreement in Principle or mortgage in principle, is a statement from a lender indicating that, based on the information provided, they would be willing to lend you a specified amount. It’s not a formal mortgage offer and doesn’t guarantee lending, but it gives you confidence about your budget and demonstrates to estate agents and sellers that you’re a serious buyer. Most estate agents will ask to see one before accepting an offer. Your adviser can obtain a Decision in Principle for you, usually very quickly and without affecting your credit score.
For most first time buyers, yes. A whole-of-market mortgage broker has access to deals from a wide range of lenders, including some not available directly to the public, and can identify the most suitable product for your specific circumstances. They’ll guide you through the application process, liaise with the lender on your behalf, and help you avoid the mistakes that can delay or derail an application. Some brokers charge a fee; others are remunerated by commission from the lender. Either way, the value of expert guidance, particularly for a first time buyer navigating the process for the first time, typically outweighs the cost significantly.
