if you enjoy reading this post speak to us

How easy is it to get your first mortgage?

Image of a young couple discussing their first mortgage

    Get helpful advice straight to your inbox

    Try our mortgage calculator?

    Use our free calculator for an instant and accurate quote from a real lender.

    One thing we have all agreed on here at My Simple Mortgage, is that in reality, a mortgage is a very simple thing. It is a loan, or a lump of money that someone lends to you to buy a home. And in return for that, you agree to pay back the money (plus a little extra by way of interest) over an agreed period. Typically, between 25 and 35 years.

    The “complication” often comes when trying to get a lender to understand your personal and unique situation in enough detail so that they are happy to lend you the money with the confidence that they will get it back.

    When making that decision, lenders will consider all sorts of facts such as how much you get paid, how long you’ve been in that job for, how reliable you’ve been with credit commitments in the past, as well as looking at the property you want to buy in detail. A lender will not agree to a mortgage if the house you are buying is either about to fall down, or so unique that if they took it back, they won’t be able to sell it themselves.

    But do not worry. Using a mortgage advice service to arrange your mortgage for you is the easiest and most straight forward way to get the right mortgage in place.

    Firstly, we can search from over 90 lenders with around 11,000 different mortgage products between them. That is far more than the 5 or 6 your bank may have. Secondly, because we work with all these lenders regularly, we’ll make sure to get all the information from you at the right time, and in the right order, and present your case to the underwriters in such a way that they understand and are willing to lend.

    Our most successful cases and happiest customers are those who listen to and follow our advice from the outset. Your adviser will explain why we need certain bits of information from you right at the outset. In some cases, an underwriter may ask to see more evidence, or ask a question that we’ll need to then ask you, but we will always do this immediately, so there is never any lost time.

    So, taking out your first mortgage need not be complicated or difficult. Your adviser will discuss your situation and make sure you understand everything you need to know. We’ll then complete the paperwork, arrange the valuation, and liaise with your solicitor to make it as painless as possible.

    Why not give it a try and speak to one of our advisers today?




    People like you enjoyed reading:

    What is a “desktop valuation”?

    What is a “desktop valuation”?

    A desktop valuation is often a lot cheaper and, in most cases, free to you (meaning the lender pick up the bill for it). It can also be a lot quicker, sometimes returning the required information in a matter of minutes

    Buyer demand for property continues to outstrip available supply

    Buyer demand for property continues to outstrip available supply

    No one can have failed to notice the rise in house prices and the rush to buy property, particularly since the lockdown eased. Reports from the Royal Institution of Chartered Surveyors (RICS) tell us that the number of properties being put up for sale is not keeping up with the increased demand.