atom.wealthyadvisersclub.co.uk
Your first mortgage, without the guesswork
Deposit, decision in principle, offer, survey, exchange, keys. We take you through it in order, tell you what happens next, and deal with the lender so you do not have to.
Start before you start looking
The single most useful thing you can do is find out what you can actually borrow before you fall in love with a house. It takes one conversation and a soft credit check.
With a decision in principle in hand you can offer with confidence, and most estate agents will take you far more seriously than a buyer who has not spoken to anyone yet.
Everything between deposit and keys
First-time buying is mostly a sequence of small decisions. Here are the ones that actually move the needle.
How much deposit you need
Five percent is the usual minimum, but the rate improves sharply at ten and fifteen. We show you what each level costs over the fix.
Which lenders suit you
Criteria differ enormously on contracts, probation periods, gifted deposits and student debt. We match you to the ones likely to say yes.
The paperwork checklist
Payslips, bank statements, ID, proof of deposit. We tell you exactly what to gather so the application does not stall.
Schemes worth knowing
Shared ownership, Right to Buy and some lender specific family assist products. We tell you honestly whether they help in your case.
Stamp duty and costs
Legal fees, survey, searches and any stamp duty due. We total it up early so nothing lands as a surprise.
Protecting the mortgage
Once you have a mortgage, a lost income becomes a housing problem. We size cover to the balance, not to a sales target.
The things first-time buyers ask us at 10pm
None of these are silly questions. We hear all of them every week.
- A small deposit is not a dead endNinety five percent mortgages exist and are widely available. The rate is higher, so we show you the real cost of waiting versus buying now.
- Being on probation is usually finePlenty of lenders accept applicants in a new job, and some will lend before you have even started, on a signed contract.
- A gifted deposit is normalLenders expect them. They need a short letter from the giver confirming it is a gift and not a loan. We provide the template.
- Student loans are not debt in the usual senseThey affect affordability through your net pay, not through your credit file. Their impact is smaller than most people fear.
What your deposit actually buys you
| Deposit | On a £250,000 home | Loan to value | What it means for your rate |
|---|---|---|---|
| 5% | £12,500 | 95% | Available, but the highest rates on the market |
| 10% | £25,000 | 90% | A meaningful step down in rate |
| 15% | £37,500 | 85% | Competitive mainstream pricing |
| 20% | £50,000 | 80% | Close to the best widely available rates |
| 25% | £62,500 | 75% | Among the sharpest rates on the market |
From first call to front door
Work out the budget
We check what you can borrow, what it costs each month, and what you need in the bank for fees. Then we get you a decision in principle.
Find the house, make the offer
Once your offer is accepted we submit the full application, chase the valuation and manage the lender through to a formal offer.
Exchange, complete, move in
We stay in the middle between the lender and your solicitor until the money moves and the keys are yours.
Frequently asked questions
How much can I borrow as a first-time buyer?
Do I need a perfect credit score?
What is a decision in principle and how long does it last?
How long does the whole process take?
Should I use the estate agent's recommended broker?
Find out what you could borrow
A short, friendly chat is all it takes to see what you could save. No jargon, no pressure, just clear advice.