Next Time Buyers

The mortgage market is ever changing, so even if you’ve done it before, it pays to get professional advice when arranging your next mortgage.

For some clients, there are hundreds if not thousands of products to choose from. We make sure that you’re not missing out on the best deal and that you’re armed with all of the relevant information to make an informed decision on your next mortgage.

Benefits of Next Time Buyers

  • Equity - the existing equity that you have from your existing property is often used as a deposit for your next purchase
  • A wider range of lenders to choose from – having already been a mortgage holder, lenders would look at you as being a better candidate to lend to compared to a first time buyer. This is subject to credit searches and status.
  • Affordability - Potentially borrow up to 5 times and more of your income (subject to credit seaches and status). 
  • Portable Mortgage - with the vast majority of mortgages you can port them from one property to another without incurring an early repayment charge
  • Small deposit - The minimum deposit required is 10%

Mortgage Costs and Expenses

As a next-time buyer, it is always essential to bear in mind that a mortgage loan comes with a variety of other costs. These can include the following:

  • Estate Agent Fees
  • Homes Information Pack
  • Stamp Duty
  • Legal fees
  • Land registry
  • Broker’s fee
  • Higher Lending Charge
  • Lender’s Arrangement Fee
  • Lender’s valuation fee
  • Survey fee
  • Removal firm

For further assistance, call us on 0800 612 7688.