A little about us

At Clever Money we pride ourselves on providing personal mortgage and protection advice in a friendly, easy to understand and professional way. Whatever your situation or circumstances, we have the expertise and the time to thoroughly discuss things with you and help you with your plans.

First time buyer

For no-obligation initial advice, you can speak to one of our expert advisers on:

0208 933 9966

Or request a call back

Done!

You may find buying your first home a little bit daunting, what with the challenge of finding your first property, choosing the right mortgage, selecting the best solicitor and making sure the whole process runs smoothly. The information below may help you getting on to the property ladder.

The first step is to contact us and we will advise you on the mortgage options available to you.  It doesn't matter if you haven't found a property yet, we can provide you with some facts and figures that will help you select a property within your price range.

In the meantime we've outlined below some background information on mortgages for first time buyers that we hope you'll find useful.

 

How much can you borrow?

 

The amount that a lender will lend to you, very much depends on your individual circumstances and different lenders' affordability criteria. Lenders look at what you can afford, based on the number of people applying for the mortgage and assessing affordability, by taking into consideration your income and outgoings and any other liabilities that you may have. Some lenders offer very good deals for first time buyers, so it is always worth asking us to research the market on your behalf.

 

What other costs do you need to be aware of?


It is also worth remembering the additional costs, on top of your deposit and mortgage that you will be expected to pay.

 

For example, you will have to pay stamp duty for the property which you are purchasing. The amount of stamp duty varies depending on the price of the property. 

 

Plus you will have to pay for the survey and the valuation of the property, and solicitor's fees.

 

You may also have fees to pay to the lender for your mortgage. These could be an arrangement fee and/or booking fee.

 

We may charge a fee for our services which we will ensure is clearly explained to you before you agree to proceed. 

 

Contact us to find out how much these fees may be.