FAQs
What is a First Time Buyer Mortgage?
A First Time Buyer Mortgage is a type of mortgage designed specifically for people who are buying their first home.
What are the benefits of a First Time Buyer Mortgage?
First Time Buyer Mortgages often offer lower interest rates and more flexible lending criteria, making it easier for first-time buyers to get on the property ladder.
What are the requirements to qualify for a First Time Buyer Mortgage?
The requirements to qualify for a First Time Buyer Mortgage will vary depending on the lender, but typically you must be a first-time buyer, have a good credit history, and have a deposit saved.
What happens if I miss a payment on my First Time Buyer Mortgage?
If you miss a payment on your First Time Buyer Mortgage, it can negatively impact your credit score and you may be charged late payment fees.
Can I get a First Time Buyer Mortgage if I am self-employed?
Yes, you can get a First Time Buyer Mortgage if you are self-employed, but you may need to provide additional documentation to prove your income.