What to know when calculating a First Time Buyers mortgage

Buying your first home is usually a very exciting time however it can also be a time of great uncertainty and anxiety. With so much to find out and learn it can feel like you just simply have no idea where to begin. For many there is the need to arrange a mortgage and this in itself comes with many unknowns such as:

• How much can I borrow?
• How much will it cost?
• How will my payments change if interest rates go up or down in the future?
• How does a longer or shorter term affect my monthly payments?

Other questions you may look to find answers for are:

• How much will I have to pay for Stamp Duty?
• What other costs are involved and how much are these?
•  I have a history of bad credit, what chance do I have of getting a mortgage?
• What interest rates are available?

The list of possible questions can seem endless and indeed will vary from one person’s requirement to the next but most if not all of these answers can be found on our website. Many questions you have can be answered using some of the numerous first time buyer calculators where you can input your specific details to find out the information that relates to your circumstances. Of course, if you are unable to find the answers here or anywhere else, or simply do not have the time, please drop us a line at Just Mortgage Brokers and one of our friendly qualified advisors will be on hand to help you.