First time buyer mortgages made easy
With our friendly team by your side, working with The Mortgage Pod isn’t like teaming up with your typical mortgage broker. For starters, we offer a lifetime service, which means that if you need a little more advice further down the line, we’re always at the other end of the phone.
We don’t believe that securing a first time buyer mortgage should make you want to pull your hair out. Allow us to do the heavy lifting and chasing, while you get packing!
We’re like your favourite smart friend
Applying for a mortgage shouldn’t make you feel like you need Siri to translate every word. We don’t believe in showering you with paperwork, jargon or misinformation. We’re all about communication, transparency, and well, just talking like your pal would over coffee.
When you’ve got questions, we’ve got the answers (and yes, we’ll reply to each one, no blanket ‘yes’ emails here!).
Life's too short for life admin
Let’s face it, finding and committing to buying your dream home is hard work. Sure, there’s a lot of paperwork involved, but we’ll help you cross the Is and dot the Ts with ease – all in a digital format.
We’re here to make your life easier with regular updates and friendly advice along the way – whether you’re buying the ultimate bachelor pad or finally giving your royal feline friend the bedroom they deserve.
We’re here to help you find home.
Don’t let boring life admin take the fun out of securing your dream first home. We’ll handle it all – minus the decorating.
What else do you need to know?
How does a first time buyer mortgage work?
A person will be typically classified as a first time buyer if they are purchasing their only, or main residence, and have never owned their own freehold or leasehold before.
Of course, most first time buyers are eager to know how much deposit they are likely to need to buy their first home. Although this can depend on a variety of factors, including credit rating, property price and income, you’ll typically need at least 10% or more of the purchase price as a deposit. The rest of the money (the mortgage) will come from a lender, such as a bank or building society.
Do I have to go to a mortgage advisor for a mortgage?
There are a bunch of benefits to working with a mortgage advisor, but of course, that doesn’t mean you have to seek our help for your mortgage. Buying your first home is an exciting time, but it can often feel a little intimidating if you don’t have the right knowledge and support to help you through the process.
When you choose to work with a professional mortgage advisor, you’ll not only gain access to a wider range of products than if you were to research the market yourself, but you’ll also:
- Receive expert financial advice from an advisor that is on your side, with the same goal in mind
- Save a lot of time! Researching the mortgage market can be pretty time consuming, especially when you’re not quite sure what you’re looking for
- Save money. Not only are you getting the input of a mortgage expert that can assess your needs and personal circumstances in order to find the best deal, but they’ll also look beyond the rest rate and take any fees into account
- Have all the paperwork handled and submitted seamlessly. Applying for a mortgage usually means that there will be lots of paperwork to complete, whether it’s forms to fill in or your own records to sort through. With a mortgage advisor on your side, you’ll have someone who knows exactly what documents you will need and what forms have to be filled in. Plus, here at The Mortgage Pod, we’re big on sustainability, delivering all paperwork electronically.
Can I still get a first time buyer mortgage with poor credit rating?
If you have a poor credit rating and you’re considering stepping onto the property ladder, there are a number of things you can do to improve it before submitting a mortgage application.
However, if you’ve found your dream home and you’re already planning where your furniture is going to go, don’t worry! We can help to assess your finances and future plans to find the best possible deal, even with a poor credit rating.