FIRST TIME BUYERS
Where do you start?
It might seem obvious, but first-things-first, let us help you understand what you can afford before you even start looking at properties. We can show you:
How much you need upfront for your deposit & buying costs
How much you can borrow
What the monthly costs could look like
We will explain and simplify the process for you and whether you're buying a house, a flat or a property through a Government Scheme, we will hold your hand all the way through to picking up the keys to your new home (and beyond!)
THE BUYING PROCESS
We help you understand the process step-by-step
As our infographic helps you visualise, we take care of the majority the process on your behalf, whilst keeping you updated and informed throughout
Every situation is different, and whilst we can’t guarantee how long it will take… on average it can take 3-4 months from application to completion…
WHAT DOCUMENTS WILL YOU NEED?
Lenders will need some documentation from us to help demonstrate that you can afford the mortgage we request. Whilst we'll discuss with you during our initial call, if you can prepare the following documents (preferrably scans or electronic versions) it will save time and ensure a smooth process.
We'll provide you with a secure portal to send your documents over to us when required.
Scanned copy of your Passport or Driving Licence
PROOF OF ADDRESS
Recent Utility Bill, Council Tax Bill or Bank Statement
PROOF OF INCOME
Employed Clients - Latest 3 Monthly Payslips and Latest P60
Self Employed Clients
Latest 2 Years Accounts, or
Latest 2 Years HM Revenue & Customs (HMRC) Tax Calculation accompanied by corresponding Tax Year Overviews
Latest 3 Full Months Bank Statements for all active current accounts - showing both salary credits and outgoings (direct debits, standing orders etc)
PROOF OF DEPOSIT
Bank / Savings account statement showing gradual build up of funds
For gifted deposits from a family member, we'll need a signed letter from them confirming it's a non-refundable gift.
What you need to know
There may be a fee for arranging a mortgage, typically £199 for Residential and Buy-to-Let remortgage applications, £375 for residential and buy-to-let purchase applications and £499 for applications with specialist lenders due to adverse credit. Fees are payable upon receipt of your Mortgage Offer from the chosen lender.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
The guidance and/or advice contained within this website is subject to the UK Regulatory Regime and is therefore targeted at consumers in the UK.
MHC Mortgage & Protection Ltd is an appointed representative of HL Partnership Ltd, which is authorised and regulated by the Financial Conduct Authority. HL Partnership Ltd is entered on the FCA register under reference 303397
MHC Mortgage & Protection Ltd is registered in England and Wales - 12067840 – Registered address – 13 Aurum Close, Whitstable, Kent. CT5 3FN