Buy
Your first home
Buying your first home is an exciting time, but sometimes it can be a little confusing and challenging. At Stakes Hill Financial Services, we have helped hundreds of first-time buyers, helping every step of the way. From guiding you through the house purchasing process, the affordability of your mortgage and gaining agreement in principle from the lender through to you securing the funds. We use our expertise to find you the right mortgage tailored to your needs and individual circumstances.
Your home move in 4 simple steps
Step 1
Book a time to chat over your objectives and circumstances with our personal home buying expert / mortgage adviser.
Step 2
Let us save you time by calculating the costs, searching a wide panel of lenders and giving you the confidence to purchase your first home.
Step 3
When you have found a property to purchase, your mortgage adviser will apply for the right mortgage for you.
Step 4
We will see you all the way through to getting your door keys, keeping you well informed along the way.
Get the advice you need; speak with a mortgage expert today
What is the benefit of having an agreement in principle?
An Agreement in Principle, also known as a ‘Decision in Principle’ will be provided after affordability and credit checks have been approved. An Agreement in Principle is extremely useful to increase your confidence when viewing and offering on properties.
Estate Agents will typically want to see an Agreement in Principle before presenting your offer to the seller. Our personal advisers can help you with this.
What insurance will I need?
It’s a requirement of your mortgage to have buildings insurance. This covers the bricks and mortar of the property.
It’s also a good idea to take advice from your personal adviser on protecting you and your loved ones if something bad happens. For example Life Cover, Critical Illness Cover and Income Protection.
Will I be accepted for a mortgage?
Being accepted for a mortgage does depend on your circumstances. We are experts with a wide range of mortgages. We specialise in obtaining mortgages for the self-employed, contractors, construction industry scheme (CIS) workers, and those with historic adverse credit (as well as employed people of course).
In all these situations, we can frequently secure high street deals. Being experts is a real benefit in these circumstances.
How much can I borrow?
You can get an indication of how much you can borrow by using our handy “how much can I borrow” calculator. The actual amount you can borrow will depend on your credit commitments, your regular monthly outgoings and how each lender assesses your income.
It may be possible to borrow more than our calculator shows you; that’s where the expertise of our personal advisers comes in and where our independent status benefits you.
How much deposit do I need?
The minimum deposit required is 5% of the property purchase price. Most lenders will allow the deposit to come from a gift, and some lenders will even consider this being raised via a personal loan.
There are government incentives to help boost your savings if you are a first-time buyer. Depending on your circumstance, you may either need to have a larger deposit or will perhaps want to put a larger deposit down, due to preferable interest rates.
Will I get the right deal?
Because we work with a range of lenders, we will be able to research and find a mortgage that works best for your circumstances.
How much will my monthly payments be?
Your monthly payments will vary according to the chosen mortgage term, choice of product, level of deposit and repayment type. You can get an indication of the monthly payments by using our calculator, but it is best to chat with a personal adviser to find out exactly what interest rate and term you can secure to give an accurate monthly payment.
Is it cheaper to buy than to rent?
Most of the first time buyers we have helped secure a mortgage are paying less on their mortgage than they used to pay on rent. This does, however, depend on circumstances. The mortgage term chosen is a major factor which can be dictated by your age and intended retirement age. Of course, it is also worth noting you are paying back the mortgage and once it is repaid you won’t have any rent to pay.
What costs are involved with purchasing my first home?
There are costs associated with purchasing your first home. You will need to pay legal fees and other potential costs include a survey fee, stamp duty (which is a property land tax) and administration fees. There are First Time Buyer government incentives on savings and stamp duty that can help you with raising the monies for a deposit, costs and reducing stamp duty. Our personal advisers can give guidance within a free consultation.
Useful calculators
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How much can
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You could borrow up to
Talk over your objectives with an Expert Mortgage Adviser now on 07935 861489
Mortgage repayment calculator
How much will you be borrowing?
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Over how many years?
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Your monthly repayment will be
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What is the interest rate?
Talk over your objectives with an Expert Mortgage Adviser now on 07935 861489
How much deposit will I need?
Purchase price
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You will need a deposit of at least
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Talk over your objectives with an Expert Mortgage Adviser now on 07935 861489
Our mortgage calculators can give you an idea of how much you could borrow, the deposit you may need and your monthly repayments. They do not represent an offer. Lenders' terms and conditions are subject to frequent changes, please speak to an adviser.
Your home may be repossessed if you do not keep up repayments on your mortgage.
5-star reviews
Josh G.
"I would highly recommend Stakes Hill Financial Services. Jodene has been absolutely great throughout the process of buying our first home - made everything crystal clear to understand. Thanks again!"
"We feel so lucky to have met Jodene. She is amazing at what she does. Very knowledgeable, always available and nothing was too much trouble. Our situation was not straight forward but she worked her magic and we managed to purchase our first property. We highly recommend Stakes Hill Financial Services, she is the best!"
Ian H.
"Jodene helped my mum get her first mortgage over 10 years ago and she has just got me and my partner our first mortgage! Super friendly, knowledgeable, helpful and I felt like I could ask her absolutely anything about the process. Quick to respond to emails/phone calls and makes the process seem a lot less stressful. Couldn’t recommend her enough. Thank you for all your help!"