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First Time Buyer

Are you a first time buyer with little or no deposit? With prices continuing to rise does it seem impossible to make that first move? We will explain in plain English the buying process, the potential pitfalls, any schemes in detail and all of the jargon' used when buying a house or flat.

100% mortgages
There is still a wide choice of 100% mortgages, with some lenders able to lend more than this!

Shared Equity mortgages
Many Housing Associations will sell a percentage of a house to you (normally 50%). You therefore buy half with a mortgage and rent the other half from them. You will generally have an option to purchase the remaining share from them at some point in the future

A number of lenders still offer the guarantor route to first time buyers. Your level of borrowing is based on the guarantors' income and assets, therefore allowing a potentially higher level of borrowing. Your budgeting then becomes very important.

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Nicholas Hall is an adviser with Julian Harris Mortgages Limited who are authorised and regulated by the Financial Conduct Authority. Your home may be repossessed if you do not keep up payments on a mortgage or loan secured on it. Written quotations available on request. All loans are subject to status. Some loans may require assignment of life assurance. Residential Mortgage transactions will not incur a broker's commission fee. THE STERLING EQUIVALENT OF YOUR MORTGAGE UNDER A FOREIGN CURRENCY MORTGAGE MAY BE INCREASED BY EXCHANGE RATE MOVEMENTS. Think carefully before securing other debts against your home.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients.
Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk