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First Time Buyers Bristol

Buying your first property is a significant financial commitment that needs to be handled with care, consideration and expert advice.
There are several different types of mortgages available to purchase your first house. These include fixed-rate mortgages, variable-rate mortgages and tracker mortgages. Each type has its own pros and cons and we will guide you through them.

First Time Buyer Mortgage

We pride ourselves on helping first-time buyers through every aspect of the process, from the dealing with solicitors and estate agents, explaining how much you can afford to borrow and how much it will cost you. We can also explain and arrange insurance and even get quotes from solicitors for you.

Contact us today or book an appointment online

In most cases first time buyers will arrange repayment mortgage where you
pay the capital and the interest each month meaning the mortgage is always
paid off at the end of the term, as long as you make your monthly repayments.

How Much Can I Borrow?

Typically you can borrow around 4.5 times your annual income less any credit commitments and outgoings but in some cases, you may be able to borrow up to 5.5 times your income if you are a higher earner.
Clifton Bristol houses

How Big a Deposit Do I Need?

Typically you’ll need a minimum of a 5% deposit but the more you put in the lower the rate of interest you will pay.

Can Someone Gift Me the Deposit?

Yes. Normally it needs to come from a close relative although some lenders allow the gift to come from a friend. They need to provide a deed of gift stating that there are no strings.

Can Someone Help Me If I Can’t Afford The Mortgage?

Yes, in some case lenders will allow someone to act as a guarantor and use
their income. This is usually a parent. Their commitments will be taken into
account as well as their age and income. There can be implications re stamp duty if the guarantor owns another property will be a joint owner with you.

What Is A Joint Borrower Sole Owner Mortgage?

This is where a guarantor goes on the mortgage with you to boost the amount you can borrow but they will not be an owner of the property.

Contact us today or book an appointment online

Contact us today for any questions and a free initial consultation or book an appointment online. We can help to guide you through every aspect of buying your first home.

Your Data

Financial Web Ltd Trading As Clifton Mortgages will be what is known as the ‘controller’ of the personal data you provide to us. We only collect basic personal data about you which does not include any special types of information or location-based information.

Why do you need my data and what will it be used for?

We need to know your basic personal data so we can make contact with you and respond to your message, request or query. All the personal data we process is processed by our staff in the UK.

Who is my data shared with?

Your data will only be shared with third parties if this is necessary to respond to your request. If this is the case, we will seek your permission before passing on your details.

How long do you keep my data for?

We may store your data for up to six years past the end of any business relationship, after which time it will be securely destroyed. If you would no longer like us to process your data at any time, you have the right to object to processing of your data. To do this, please contact [email protected]

What are my rights?

You have the right to object to the processing of your data. You also have the right to request access to your data at any time. You have the right to rectification and/or erasure of personal data or restriction of processing. If you wish to raise a concern related to how we have handled your personal data, you can contact us to have the matter investigated at [email protected]. If you are not satisfied with our response or believe we are processing your personal data not in accordance with the law, you can complain to the information commissioner’s office: https://ico.org.uk