At Barrett mortgages, we have a professional finance broker team that can provide mortgages for everyone including first-time buyers, self-employed people and many more! We know that people can get fed up with the high pressured sales tactics of the large corporates, Barrett Mortgages was set up by founder Darren Barrett in 2009, during some of the hardest market conditions the industry has seen. The unparalleled, clear, trustworthy, honest and upfront service offered by Barrett Mortgages has meant our business has thrived during these times when clients have needed more individual and specialist help. All of our staff are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sale tactics, and we have built a strong reputation which is important as we rely heavily upon referrals from clients.
One of the mortgages that we can help you out with is a first-time buyer mortgage. We have some great tips for you to think about even before you start to look at houses. We know that it isn’t the easiest thing to get onto the property ladder and doing so is a key goal for most of us in our lives, however, this can be a daunting task and with all the conflicting advice out there it’s hard to know what the best advice really is. That’s why we are here, to help you know what the best possible advice is because we are telling it to you. Let our advisors guide you through the process from start to finish. After all, buying your first home can be an experience you’ll never forget. Planning ahead and can give you a huge advantage when it comes to getting something you really want.
When you are saving for your home, having as big of a deposit as possible is very important as you will be expected to put down a certain amount on a property that you want. This is mainly because a deposit is a lenders protection. When deciding whether or not to accept a mortgage application, lenders have to think about the challenges potential borrowers may encounter during the life of the mortgage. These may include temporary temporary falls in house prices, periods of unemployment, and periods of a reduced income or at least reduced disposable income. So therefore the bigger the deposit a potential borrower can put down, the less exposed the lender is to changes.
You can also check to see if there are any help to buy schemes that suit what you want to purchase. This way you will also have to gather a 5% deposit, then the government can then lend up to 20% of the purchase of the property, then you will only need a mortgage that covers 75% of the property.
We also have many other bits of advice to help you out when you are in whatever situation. If you are looking at investing in property and becoming a landlord we can help you with that whole process and tell you exactly what you should be doing. It doesn’t matter if you are looking to expand your portfolio or just looking for that one-time investment. A really good aspect of getting a buy to let mortgage is that they are usually interest-only mortgages, this means that you pay monthly towards the interest on the property and not the loan capital. The loan capital can then be paid back when the agreement is ending by selling the property and then any profits can then be retained by the seller.