First Time Buyer Mortgage

As a first time buyer we know the process can appear very daunting and difficult. Too many first time buyers jump in too quickly and find themselves getting overwhelmed and frustrated with no one to turn to for guidance or advice.

This is where using a Pangea Mortgage advisor can prove invaluable.

We will breakdown for first time buyers the step by step process to getting your dream home. 

First time buyer steps

First – it’s all about preparation. The first item on your list should be to ensure your finances are in order and to get a professional to help you with this. Our mortgage advisors will do this with you. We will provide you with a list of documents that you need to submit.

Don’t worry it’s all digital, so you can upload the docs from wherever you are.

Our expert team will then provide you with a detailed overview of where you are, how much you can borrow and the max you can afford to offer for a property

Now that you have your finances sorted you need to begin the process of viewing properties. It’s important to be aware that the well spoken and friendly Estate agents do NOT act for you. Their job is to get the vendor the highest possible price. Its important to remeber what is the motivation of each party and who they work for – click here for more

So, sticking to the max budget your mortgage advisor will have given you is key. You can contact a Pangea Mortgage advisor at any stage throughout the process – they are there to help you and have been through hundreds of sales before so its no harm to run any questions you have past them.

Once you have gone sale agreed your mortgage advisor will speak to the lender and get a full loan offer for you, this is sent to you and your nominated solicitor. Your solicitor will review the docs and get you to sign the key ones.

After they send these docs back to the Bank it should only be a week or so before you have the keys. 

All in all you need to be prepared for the process to take about 6 months, yes that long. It will be slow, especially the legal part. The property is not legally secured until the contracts are signed and exchanged so this is the key milestone to focus on and why its so important to get a top class solicitor. There are too many first time buyers who look for the cheapest solicitor and this can end up costing your your dream house. Its not worth it.

If you have any questions along the way, you can always to speak to your mortgage advisors as they are there to help you .

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