First Choice pride ourselves on having excellent knowledge on the different mortgage options available for first time buyers, we have over 30 years experience arranging mortgages and have an excellent working relationships with lenders.
Joint Mortgage For Young CouplesCouples often have more options than single home buyers, in most circumstance the couples will have a larger household income allowing them to borrow more and afford a larger selection of homes. When taking out a joint mortgage the lender will examine both applicants credit histories, so if either of you have issue`s on your credit profile then this will impact on the mortgage options available to you and the cost of the mortgage. When you enquire online to First Choice Finance a qualified mortgage adviser and not a computer will examine your enquiry and will look to find a deal that best suits your circumstance. As a mortgage broker we have options not available direct and can help often people who may have had difficulty obtaining a mortgage in the past.
How to get a mortgage if you are a young coupleIf you are looking at buying your first property together their are a lot of thing to help improve your chances of getting approved, firstly ensure you are not missing any existing credit, this includes credit cards, loans and even mobile phone bills, missed payments will result in increased rates or less mortgage options. Other factors lenders will look at is your previous addresses, employment status and earnings as well as your affordabilty examining your income and outgoings.
Mortgage schemes for young people / young couples / first time buyersBecause of the high cost of property and the increased scrutiny by lenders since the credit crunch, young people have had increased difficulty arranging a purchase mortgage to buy their first house. Their are a number of government schemes as well as specialized plans provided by mortgage lenders to help young couples in buying a home, a First Choice Mortgage adviser can give you more details and help you through the schemes.
- Help a hand mortgage - A new mortgage deal offered which require`s no deposit by the buyer, instead a family member puts the purchase price deposit into a fixed term saving account.
- Family Springboard Mortgage – similar to the help a hand mortgage a helper provides 10% security for the first five years of the mortgage.
- Family Deposit Mortgage – Your parents can use equity in the family home as equity in the young couples first home
- Shared Ownership Scheme - The young couple can purchase a percentage of a new build property, while the builder will retain the rest of the equity, you will be charged a rental charge for the remaining percentage, which you can then purchase later on.
- Help To Buy - A government scheme offering help lending you a percentage of the purchase price from the government
Unsecured Personal Loans
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected.