The First Time Buyer Mortgage That Could Change Your Life

This newly developed mortgage product that could open the door for so many First Time Buyers is now being marketed by a number of lenders who can see how they can fill the gap in the current market and help so many would be purchasers get their foot on the property ladder, who currently can only dream of being a home owner.

 

How is this new and polished product going to change the First Time Buyer market place ???

 

As many new mortgage clients have had to take on board, all mortgages without exception are now based on affordability. The old days of X times income have long gone, and what we now have today is a system of having to prove that you can afford to repay your mortgage, which takes into account all of your existing financial commitments going forward, and your lifestyle ( party animals beware ).

This as we can all appreciate is very much a wake up call for a number of clients who have not previously had to endure the financial examination from which they are now expected to achieve an A1 pass to receive a positive response from their decision in  principal submitted to the lender of choice.

 

So the big question is, WHAT ? has changed in lending criteria that will make this very positive and massive change  to First Time Buyers ???

 

There are now a number of lenders who are now prepared to accept the income of close family members to support the applicants income to meet with the lenders affordability, and they will NOT be expected to live at the property, and their names will NOT appear on the mortgage deeds, needing to be jointly owning the property.

This is such great news for First Time Buyers who now have the choice of Family Gifted Deposits OR  Joint Borrower and Sole Proprietor Mortgages.

And to put the cream on the cake some our lenders will accept a Bad/Poor Credit Profile.

How can we help you ???

Call Michael Alexander

Mainline 03452 605506

Mobile 07867 794837

Email michael.alexander@btconnect.com

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