Slide
First Time Buyer Mortgage Specialist
Award Winning Mortgage Advisers

Contact us on

01225 459 515

or begin your enquiry online by clicking below

Purchasing
Remortgaging
I Want to Buy A Home
I Want to Remortgage
Slide
First Time Buyer Mortgage Specialist
Award Winning Mortgage Advisers

Contact us on

01225 459 515

or begin your enquiry online by clicking below

I Want to Buy A Home
I Want to Remortgage

Welcome to Lansdown Financial Services

free mortgage advice

We search the whole market and have access to over 70 different lenders, here are a sample of the providers we use:

Santander
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First Time Buyer Mortgages

 

Buying your first home can be an incredibly exciting, but we understand it can also feel very overwhelming. Our advisers have over 35 years combined experience and help first time buyers get onto the property. In fact, we have provided advice to literally thousands of first time buyers.  

From the moment you first think about purchasing your first home to finally getting the keys, we are here to help guide you through the process. 

The first step in the process is to understand how much you are able to borrow, the value of properties you can consider, and the potential monthly mortgage payments to ensure they are affordable to you. During our first point, this is exactly what we discuss with you alongside help choosing a solicitor and dealing with estate agents.

From here, we will be able to issue you with a Mortgage in Principle to help you once you have found a property that you like, alongside providing you with valuable information you need to know.

Once you have an offer accepted, we will guide you through the mortgage options providing tailored advice.

There can be too much jargon and confusing information given to you when purchasing your first home.  We remove this jargon from the advice we provide, ensuring you understand everything, every step of the way.

 

 

The UK’s leading mortgage broker

for First Time Buyer mortgages

 Lansdown Financial Services was founded with a clear purpose: to provide expert Mortgage and Protection advice to clients across the UK, while delivering an exceptional level of customer service that our clients truly deserve.

Our two co-founders and directors, Doug Miller and Aaron Taghdiri, have over 25 years combined experienced in the mortgage industry. They’ve supported a wide range of clients, from first-time buyers to high-net-worth individuals, including those seeking multi-million pound mortgages or with large property portfolios.

Our advisers are highly experienced in helping first time buyers purchase their first home, it’s a core area of our expertise and what we love to do the most! 

 

 

Why Choose Us

  • Fee Free Advice
  • Access to Thousands of Deals
  • Experienced Mortgage Brokers
  • Access to Exclusive Products
  • Five Star Rated Google Reviews
  • Personal Bespoke Service
Meet The Team

Industry leading knowledge for

First Time Buyer Mortgages

At Lansdown Financial Services, we provide you with clear, honest, professional mortgage advice. We keep the jargon to ourselves, and ensure you understand everything, every step of the way.

Here are some of the most commonly asked questions we receive from First Time Buyers purchasing their first home:

How much can I borrow?

This is one of the most common questions we are asked, however the answer is not straight forward. Every lender will assess your circumstances in slightly different ways against their own lending criteria.

The nature of your income (salary, overtime, bonus or whether you are self employed) will be assessed differently from one lender to the next, the level of your deposit will often have an impact, your personal debts will be taken into account, as will your day to day outgoings such as your monthly bills, travel costs and any childcare costs.

Our experts can talk you through your potential borrowing ability, and give you a good idea of what your monthly mortgage payments will look like. It is always worthwhile speaking with us first before viewing properties to go through these figures.

We will also be able to provide you with an ‘Agreement in Principle,’ also referred to as a ‘Decision’ or ‘Mortgage in Principle.’

What is an Agreement or Decision in Principle, and do I need one?

An Agreement in Principle (AIP), is a simple document that confirms how much you are able to borrow on a mortgage. This document is also known as a Decision in Principle (DIP) or a Mortgage in Principle (MIP), but ultimately they are all the same thing!

Our experts can generate this for you once we have had an initial discussion with you regarding your income, outgoings and potential deposit. This document simply confirms the amount you should be able to borrow based on the figures we have discussed, and that, in principle, you will be able to obtain a mortgage for this amount.

This is a very important document and something estate agents will ask to you provide when viewing and making offers on a property. This AIP shows you have done your homework, you are a serious buyer, and most importantly you can obtain the mortgage finance you require to purchase this home.

Having an initial discussion with our mortgage experts around your potential options, and us providing you with an Agreement in Principle is the first step you should take in the house buying process.

Once you have this document, you can then put forward an offer on any property you wish to buy. Once your offer is accepted we can then discuss the mortgage options available to you in more detail, and explain the steps involved to secure your first home!

What is the difference between a repayment mortgage and interest only?

A repayment mortgage is the most popular and recommended option. This is where you pay both the mortgage debt and interest back to the lender every month. This means that as long as you pay every mortgage payment, you will be mortgage free at the end of the mortgage term.

Interest only means you simply cover the cost of the interest on the mortgage debt each month. The actual mortgage debt never reduces, so you would still owe the full amount that you initially borrowed at the end of the mortgage term.

Lenders require you to have a specific repayment vehicle in place to repay the interest only mortgage debt at the end of the mortgage term. These types of mortgages are only ever advisable where you have a specific repayment vehicle in place to cover the entire mortgage debt, and mortgage applications on this basis are subject to stringent checks by lenders.

What documents will I need to provide?

This will vary depending on the specific bank or building society you apply to, but as a guide you can expect lenders to ask for the following to help assess and underwrite your application:

For employed:

  • Latest three months payslips, or the last 13 if you are paid weekly
  • Latest three months bank statements showing receipt of your salary
  • Latest P60

For self employed:

  • Latest two years Tax Calculations and Tax Year Overviews if you are a sole trader
  • Latest two years business accounts if you own a Limited Company

Plus the following:

  • Proof of your deposit (requirements can vary depending on whether this is coming from savings or is a gift from a family member)
  • Proof of your ID such as a passport of driving license
  • Proof of address in the form of a bank statement, utility bill or council tax statement

This list is not exhaustive, especially if you receive bonus / overtime / commission as part of your role or receive government benefits or maintenance income.

Start your journey here by clicking one of the options below

I want to buy a new home
I want to remortgage

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