Mortgages
First time buyer mortgages
Buying your first home in the UK is a major undertaking. It is probably the single largest financial commitment most people will ever make and yet most people don't know where to begin arranging a first time buyer mortgage.
There are several mortgage schemes available to choose from, which is good for you as this keeps prices competitive. However, as a first time buyer, it also means that the mortgage market can be very confusing. You will hear terms like ‘fixed rates', ‘trackers', ‘cashback', ‘valuation'and 'loan to value ratio'. You may also be concerned about what type of mortgage would best suit your circumstances: repayment or interest only?
Our financial consultants are completely independent of any one mortgage lender, so can offer you the best impartial advice. They will explain all of the relevant terms used when arranging a mortgage and will take you step by step through the entire home-buying process, from mortgage application to completion.
Remortgage and all other Mortgage related advice
The best advice is independent advice
Our independent status means that we are not tied to any one mortgage lender or panel of lenders. By contacting us, you will get all the benefits of a qualified, professional consultant acting on your behalf to find the deal that suits you best. Don't forget that we work for you and not the lender or estate agent, so can offer completely impartial mortgage advice no matter what your circumstances may be.
We have learnt that having a consultant who understands your circumstances really does make a difference in securing your home or investment residence.
Important areas you need to know about
- Find out how much you can borrow before looking for a home to buy.
- Understand the costs involved before and after you buy. How much of a deposit will you need?
- Have you saved for this and how much of it will you need now? How much will you need later for furniture, for example?
- Which mortgage best suits your circumstances?
- Ensure that you fully understand any ‘tie-ins'!
- What is the role of the estate agent?
- How would you know if there was anything wrong with your proposed property?
- Who arranges the legal work?
Buildings and Contents Insurance
Buildings insurance covers the cost of damage to the structure of your property. This includes the roof, walls, ceilings, floors, doors and windows. Outdoor structures such as garages and fences are also included sometimes at a premium.Buildings insurance can usually cover permanent fixtures and fittings, interior decoration and underground tanks, pipes, cables, and the drains that you are responsible for from your home to the mains supply.
Contents insurance is insurance that pays for damage to, or loss of, an individual's personal possessions whilst they are located within that individual's home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder. In this context "possessions" means anything that is not permanently attached to the structure of the home (possessions that are permanently attached to the structure of the home can only be insured via Buildings insurance.) Some contents policies may also include possessions kept in outbuildings or in the garden area attached to the house.
Contents insurance is often sold alongside buildings insurance but it can also be purchased as a stand-alone policy, especially for those who are renting rather than owning their home.
Salus Financial Solutions can advise on, and help set up, suitable cover for both your home and its contents
What to do next
Salus Financial Solutions are here to help you understand the mortgage process and provide you with professional, bespoke advice relating to the above important questions.
Please Contact us and we aim to reply within 24 hours or click on the Free call back
Your home may be repossessed if you do not keep up repayments on your mortgage.
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The Financial Services Authority does not regulate loans or all forms of Mortgage.
Salus Financial Solutions is a trading style of Stonebridge Mortgage Solutions Limited which is authorised and regulated by the Financial Services Authority (http://www.fsa.gov.uk/register/home.do). FSA Registration No: 454811
