First Time Buyer

Buying your 1st home can be very daunting, which is why our team of experienced advisors at Cornerstone Mortgages & Finance are on hand to guide you through the process step by step. Our main aim is to keep your house buying journey as enjoyable and stress free as possible which is why we take care of everything for you, from paperwork to even helping you negotiate the purchase price on your chosen property.


How much can I borrow?

The maximum loan available to you will differentiate between different lenders as each lender will have their own way of calculating affordability. The main factors that will determine how much you can borrow are your income along with your existing financial commitments such as loans, credit cards, car finance, hire purchase etc. Our team of advisors will be able to let you know exactly how much you are able to borrow whilst ensuring you understand how much you would be paying each month and that it is affordable for you.

How much deposit will I need?

You will typically require a minimum of 5% of the purchase price.

For example, if you were to purchase a property for £100,000, you would need a deposit of £5,000.

The bigger deposit you have, the lower the interest rate will be so if you are able contribute a larger deposit, the monthly payment will be cheaper. This is where the bank of Mum & Dad can come in handy!

What other costs are involved with buying a house?

Our experienced team of advisors will be able to run through all the costs associated with purchasing a property, meaning that you will have a full understanding of the total budget you will require to purchase a property along with the ongoing costs besides the mortgage payment.

These will typically include:

  • Solicitor Fees
  • Survey Fees
  • Mortgage arrangement fees
  • Buildings Insurance

Your home may be repossessed if you do not keep up repayments on your mortgage.

Contact our experts today

to find out how we can help you with your mortgage needs