What is a Purchase Mortgage?

A purchase mortgage, as its name suggests, is a mortgage used to buy a property. These are typically mortgages for first time buyers or for people looking to move home, but can also apply to people looking to bu y a second home or even purchase property from a local authority or housing association.

House buyers have traditionally gone to high street banks and building societies for mortgages to finance their purchases, but there are many other competitive specialist lenders who can help you with a mortgage, even if you have been refused elsewhere. Some lenders can tend to be overly cautious when it comes to lending to people who have a less than perfect credit history, and that can make it very difficult when you need a mortgage.

The type of mortgage you are offered will depend on your personal circumstances, and there are special schemes depending on whether you are a first time buyer or other type of buyer seeking a mortgage.

What are my chances of getting a purchase mortgage?

Purchase Mortgage Deals 

We are able to match first time buyers, home movers, and even those looking to purchase a second property with mortgage products suitable for their needs. Even if you have an adverse credit history or a small deposit, we can search for suitable mortgage products for you.

If you are happy with the mortgage on offer, we can handle all the paperwork for you including the entire mortgage application

By speaking to one of our specialist mortgage experts, we can review your credit file and find the most suitable lender for you based on your requirements.

What exactly will you do for me as regards a mortgage?

When looking to purchase property, securing a mortgage isn’t always straightforward, but sometime you need the right mortgage and quickly! Our expert advisers can help you get the best deal that’s right for you and do it as speedily as possible. It is vitally important that you seek out this sort of impartial advice.

We will help you discover how much you could reasonable afford to borrow and the fees you will pay. We will source the best options from the market and let you know how much your monthly mortgage payments are likely to be. You may be tempted to go back to your existing lender however it is important to remember they will only be able to tell you about their mortgage products when there could be a better option for you with another lender which could save you money.

What sort of Mortgage Deal am I likely to get?

If you have a poor credit history, then specialist lenders we can match you with, are usually more flexible compared to high street lenders, but they still want to ensure that the risk is not overly large. While the terms of any mortgage you are offered might be less favourable than a standard mortgage (for example, higher interest rates the higher the perceived risk), some lenders will include options such as interest rate cuts if borrowers have proven they can consistently meet the repayments. 

Ready to Assist You

Buying a property can be daunting and your choice of mortgage is a decision you need to get right. For this reason, it is vital that you get impartial advice fr om a competent and qualified advisers. Whether you are a first-time buyer, looking to remortgage, looking to purchase a second home, hoping to remortgage or even buy a property to let, this is wh ere our advisers excel.

Be reassured that our style is to guarantee reliable mortgage advice appropriate to any individual that makes contact with us. Through our network of contacts, we have access to thousands of mortgage products, so we are confident that we’ll find one to suit you.