FIRST TIME BUYER?
Hi I’m Nicola and I’ll be your first point of contact at Cooper Rose. I can’t wait to put you in touch with our friendly, knowledgeable and impartial advisors.
P.S. Don’t worry if you’re just starting out, we’re happy to help!
Your mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other debt secured against it.
The Financial Conduct Authority does not regulate some forms of Buy to Lets.
Welcome to Cooper Rose
Congratulations! Buying your first home is one of the most exciting times in your life. We love nothing more than getting people into their first homes, reducing the stress so you can enjoy the moment.
There’s a lot to go through, and sometimes things can get difficult, but we’ll be with you every step of the way.
Your Deposit
Saving for a deposit when the cost of living is increasing rapidly is hard.
We have a number of lenders who can offer up to 95% mortgages.
It’s amazing when loved ones are able to help out.
There are a number of criteria we need to work to, so get in touch to find out next steps.
Don’t get carried away on Rightmove & Zoopla!
We carry out a no obligation affordability check to make sure you’ve set the right criteria.
How It works?
We're aware of how important your mortgage is to your ongoing financial health. If you're at all worried about anything at all, just give us a call. We're happy to advise on your circumstance, no question is too small and definitely not trivial (plus you're safe with us, we've heard it all before 😉).
Call, email or send a message on our social channels. We will be back in touch with you as soon as possible to get some basic info to enable our super star advisors to hit the ground running.
One of our lovely team (see below) will spend some time getting to know your circumstances. We will then find the most suitable mortgage and protection products based on your circumstances.
This is the exciting part!... Once you're happy with everything we have presented, we will then send off to the lenders. It won't be long until we have that all important Decision in Principle.
First Time Buyer FAQs
No question is too small and definitely not trivial, so if yours isn’t answered here, just give us a call.
Most lenders ask for at least 5% of the property’s price. We have a number of lenders who can offer up to 95% mortgages.
A smaller deposit means borrowing more, so your monthly payments will be higher. A bigger deposit usually opens up more deals.
Let’s have a chat before you pick a figure to save towards.
Many lenders will lend around 4 to 4.5 times your yearly income. It varies from lender to lender and depends on your outgoings and credit history.
We carry out a no obligation affordability check, so you know where you stand before you start viewing.
Many lenders accept a gifted deposit, usually from a close family member such as a parent or grandparent. The lender will ask for a signed letter confirming it’s a gift and not a loan.
There are a number of criteria we need to work to, so get in touch and we’ll talk you through the next steps.
You may be able to. Some landlords will sell to a tenant for less than the property is worth, which is called a concessionary purchase.
Some lenders will let that discount count towards your deposit. Each lender has its own rules, such as how long you’ve rented the property.
The lender will still value the property and check what you can afford. Let’s have a chat before you agree a price with your landlord.
It’s a statement from a lender saying how much they might lend you, based on some initial checks. Having one shows estate agents and sellers you’re serious.
It isn’t a mortgage offer, and the lender will do full checks when you apply. We’ll get yours sorted before you start making offers.
From having your offer accepted to getting the keys usually takes between 8 and 16 weeks. It depends on your solicitor, the chain and how long the lender takes to make a mortgage offer.
We’ll keep in touch with the lender and keep you posted.
As well as your deposit, you’ll need to budget for solicitor’s fees and a survey. First time buyers often pay less stamp duty, or none at all, depending on the price of the home.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £395 to £595 and this will be discussed and agreed with you at the earliest opportunity.
We’ll help you work out the full cost before you start looking.
You don’t have to use one. We search a wide range of lenders, including high street and specialist lenders, and recommend a mortgage that suits you.
We’ll also explain each step as we go, which helps when it’s all new. It’s best not to apply to lots of lenders yourself, as each application can show on your credit file.
The Cooper Roses
CeMAP Qualified
Owner | Mortgage & Protection Advisor
CeMAP Qualified
Mortgage & Protection Advisor
Mortgage & Protection Administrator
Our Clients are the best!
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