First-time buyers

Buying your first home

There are stages in life that give us an additional sense of being. Owning your own home is one of those stages. It is, and should be, an exciting time when your offer to buy a property is accepted and one starts to lose themselves thinking about interior design, furniture placement and which friends and family you will host for dinner.

First-time buyers

How Much Deposit Do I Need?

Saving for a mortgage deposit is one of the most difficult challenges for first time buyers. However your ambition should not be deterred. In recent years the government have launched initiatives to assist first time buyers. In addition – by speaking with a company who understands the market there will likely be more options available then you had initially imagined.

Applying For A Mortgage

Applying for a mortgage is complex. After the ‘credit crunch’ in 2008 tighter regulation was introduced to ensure there would be no repeat of the events we saw back in 2008 – 2009.

Despite tighter regulation the good news is The Mortgage Xchange simplify the process and do all the work for you. We follow a 5-step process to success;

Find out how much you can borrow instantly!
Go to mortgage calculator

Guarantor Mortgages

You have done all the hard work and saved a healthy deposit for your new home to learn you cannot get the mortgage you need because your income does not stretch to meet the lenders standard affordability criteria. It is a common occurrence and lenders recognise this dilemma which is why ‘guarantor mortgages’ were introduced.

A guarantor mortgage works in exactly the same way as a normal mortgage. The only difference being if you cannot meet the mortgage repayments the guarantor becomes responsible for the debt. The lender will need to see evidence the guarantor can afford their own commitments as well as repayments on the guarantor mortgage. In some instances the lender may also want to take a charge on the guarantor’s property.

Guarantor Mortgages