Mortgage Advisor

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Mortgage Advice

A network of advice services helping you with your personal or business financial matters

Looking to buy your first home - contact us for our mortgage advice

First Time

Because of limited funds from the banks, it is now harder than ever for first time buyers to get on the property ladder. Despite house prices staying low, raising a deposit is the main stumbling block and, as a result, the average age of a first time buyer is now well into the thirties.

There are a number of ways in which you can get that first step. One of the favourites is what is referred to as “The Bank of Mum and Dad”; that is a gifted deposit from your parents. We are also seeing these gifted deposits being made by grandparents.

Other options, or even combined with a gifted deposit, include Shared Ownership, see below, or The Home Buy Initiative, also below.

If you are contemplating buying your first home and would like to explore your options, give us a call.

Shared Ownership

  • Shared Ownership
  • HomeBuy
  • Equity loans
  • Right To Buy

The Shared Ownership Scheme can be a very useful method in helping first time buyers. In the Scheme, a Housing Association sells you a proportion of the property and retains the rest. You take out a mortgage to buy your share and pay rent on the other share.

Because you are not paying full price, the deposit you require will be less. But because you have your foot on the ladder, you will be permitted to buy further shares in the future.

There are a number of schemes available from various lenders, so why not call us to find out what is best for you.


If you are a first-time buyer who can’t afford to buy a home, you may be able to get help through an ‘equity loan’ scheme – FirstBuy or HomeBuy Direct – to purchase a new-build home.

Whatever your situation, give us a call so we can advise what is best for you.

Equity loans

Equity loans are available on certain newly built homes on specific housing developments across England.

The loans are provided through ‘HomeBuy agents’, who will decide if you can buy a home this way. HomeBuy agents are housing associations that have been authorised to run schemes for people who have difficulty buying a home.

You can only buy a home through an equity loan scheme if:
* your household earns £60,000 a year or less
* you can’t otherwise afford to buy a home in your area

Equity loans are open to:
* people who rent council or housing association properties
* first-time buyers (you are a first-time buyer if you haven’t owned a home before)

You can also get help through an equity loan if you used to own a home, but can't afford to buy one now.

Talk to us so we can guide you on the best way forward.

Right To Buy

If you are a tenant of a Local Authority, you may have acquired the right to buy that property from the Local Authority.

The incentives being offered under a new Government Initiative provide for significant discounts. This could make it now possible to get on the housing ladder.

We have many years of experience advising on and arranging mortgages for Right to Buy purchases

Give us a call so we can find the right deal for you.