First Time Buyer

First Time Buyer Mortgage Advice – Guide for first time buyers

What is a First Time Buyer Mortgage?

First Time Buyer mortgages are for people that have never bought a property and are looking to purchase their first home. Despite what the media keeps telling you, these mortgages aren’t that difficult to find and it is something we are keen to assist you with.

Book a Stage 1 interview with JF Financial Associates and you will have a clear picture right from the start?

We cover these 10 vital points:

  1. Complete a full assessment of your financial situation and stability
  2. Review your short, medium and long term financial and home ownership goals
  3. Full income and expenditure analysis
  4. Assess how much you can realistically afford to borrow within a comfortable budget
  5. Work out the deposit required to have access to the most competitive deals
  6. Calculate your ideal purchase price
  7. Provide a full breakdown of all the costs and fees
  8. Comprehensive assessment of the mortgage products available
  9. Explain all the options, features and risks of the products
  10. Most importantly we will stress test the mortgage to make sure you can still afford it if rate moved.

At the end of the consultation, you will be sent a blue print of exactly what is possible. There is no such thing as hidden fees with JF Financial Associates as everything is clearly disclosed up front.

To aid you on your journey, here are some useful tips when preparing to buy your first home:

  • Keep your last 3 month’s payslips and P60 or your last 3 year’s accounts if you are self employed.
  • Keep your last 3 month’s bank statements showing salary credit.
  • Get full details of any and all debt you have i.e. loans, credit cards, store cards, higher purchase schemes.
  • Ensure you are on the Electoral Role – this is extremely important.

Having these things to hand will speed up the process of getting your dream home, as they are normally required by most lenders.

There are also different options for acquiring your first property, depending on your financial situation:

  • Make sure you have a Deposit – Ideally, most lenders will want you to have at least a 5% deposit of the purchase price of your new property. The higher the deposit, the more options you will have and the better the deal on offer will be.
  • Gifted Deposit – This is traditionally a deposit provided by a family member, where the giver does not want this money back at any stage.
  • Family Guarantee – Similar to a gifted deposit, however the family member does require the money back at some stage and a ‘security’ will be held on the property until all funds have been fully repaid to the giver.
  • Guarantors – These are ideal if you don’t earn enough for you preferred mortgage, someone can assist you by becoming your guarantor. They will then become liable for some of the mortgage if you are unable to make your payments. They will also need to prove they can afford both their own mortgage (if their property is not owned outright), as well as your new one.

Why use a Broker for First Time Buyer Mortgages?

Many factors apply when getting your First Time Buyer mortgage, from sourcing deposits, getting the correct supporting documentation, to which lender will offer you the right rates that won’t break the bank. You also need to give serious consideration to protecting the property and your new mortgage liability.

Justin our highly skilled mortgage broker along with his fantastic back office support team at JF Financial Associates are here to advise and support you every step of the way. They will explain each phase from the initial costs involved and deposits required and how much you can lend, to getting a mortgage agreement in principle through to getting a full mortgage offer. They will even assist you with getting a basic budget planner in place, so you will be better informed on your monthly incomings and outgoings once you move into your new dream home.

They won’t stop searching their extensive list of mortgage providers, until you are happy! So what is stopping you, give us a call on 0345 508 8588 and you’ll soon be one step closer to owning your first ever home!

JF Financial Associates will never sell you something you don’t want! We simply offer First Time Buyer Mortgage advice in Norwich and nationwide

PLEASE NOTE – Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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"Very helpful throughout the remortgage process and very good at explaining everything in simplified terms we could relate to and not just financial jargon."


Thank you very much for all your hard work obtaining our first mortgage, which was so difficult to get providing our limited finances! Your assistance has been invaluable, and we would have never achieved this without you! We would have no hesitation in using your services again or, indeed, in recommending you to anyone who requires services of a mortgage & insurance specialist.


This was from a client we have been working with for over 7 years now: "Many thanks for all your hard work and effort to obtain our mortgage offer! I can't tell you how it feels for us to have gone from having nearly 100k of debt and a 'hopeless case' to getting a high street mortgage (in less than 7 years!)


Justin was recommend by my bother who had his mortgage arranged with him a couple of years before. The set up process was very easy, Justin got me on the phone, found out my needs and financial details and then came back a couple of days later with three options for me to pick from. After than things went smoothly, Justin and his team were VERY helpful, they even helped fix a couple of problems caused by my solicitors. On the day of completion Justin was on the phone making sure everything was fine as were his team. I felt very well looked after and even decided to arrange extra life cover with Justin.


We have been a client of JF Financial for almost 9 years. Justin goes above and beyond to ensure everything runs smoothly. The service this company provides is 5 star. Would 100% recommend JF Financial.


Knowing Justin is a blessing, I had couple of re mortgage with JFinancial. Very friendly & stress free service, Justin always look after all small details before the application. Hassel free , as long you have all uptodate documents. Great service. Just talking to him is a great pleasure.


I would like to thank Justin from J F Financial for his extremely professional service. After my recent stage one interview which was to understand all aspects of my financial position he was able to tell me more about my finances than I knew myself. Justin gave me clear, decisive advice which enabled me to put things in place to secure future financial stability. I initially went to Justin to see if he was able to help secure an acceptable rate on the re-mortgage of my property as it had come to the end of its term and slipped into variable rate. This was something that I did not think was possible in today’s current financial market. Justin not only matched my existing interest rate but secured this rate for the next 5 years. From Stage one to completion of the mortgage I found this to be a very smoothly run and professional service and would not hesitate with recommending Justin from J F Financial to any of my family or contacts in the future.


Just thought would drop you a quick line to say thank you for all your help with helping us along the process of buying our flat. We are all settled in now and loving it!! I will highly recommend you to all my friends, as it was a pleasure dealing with you and you made the whole process a lot less stressful. Once again many thanks for all your help and your useful knowledge.


Thank you very much for your help, it’s a pleasure dealing with you and will definitely recommend you to my family and friends. Easy remortgage with no hassle!!! Thanks again.


This was a big help in meeting all my needs, very helpful and professional


5 star service. Could not recommend JF Financial highly enough. Justin assisted us throughout the whole house buying/selling process. He made one of the most stressful processes in life easy and hassle free. Was always available for any advice, even out of office hours! Would never look elsewhere for any financial advice in the future.


We have just completed on our 2nd mortgage arranged by Justin. We wouldn’t consider going to anyone else as JF Financial Associates are friendly, professional and determined to find the best mortgage for our ever evolving needs. Justin is able to explain the whole process in an understandable way, making sure you are fully aware the next stage of the process. I have no hesitation in recommending their services. Mr & Mrs Wallis. West Sussex.