First Time Buyers

Looking for your first home can be a frustrating and, at times, soul-destroying task. House prices always seem to escalate faster than salaries. In addition, associated costs such as legal fees have increased faster than the rate of inflation.

Without first time buyers, the whole housing market would stagnate and so would mortgage providers' profits. Forward looking mortgage lenders need to take a long-term view of their customers’ interests. If borrowers are treated fairly they are much less likely to shop around when looking for a loan on a new property or a remortgage for their current home. Over the long-term, retaining existing borrowers is much more cost effective than having to contest for new borrowers in a competitive and ever changing market.

Before you start your search for your first property some basic planning and calculations are essential. More than anything else, you need to know how much you can afford, which almost always means how much you can afford to borrow. Use our Mortgage Calculator and How Much Could You Borrow? Calculator.

Our how much can you borrow calculator will quickly help you get an idea of how much you can borrow. This will depend largely on your income level and the size of the initial deposit that you can put down on the property. If in regular employment, a single person should be able to borrow at least three times their annual salary and a couple should be able to borrow at least two and a half times their joint annual salaries. Contact one of our Mortgage Advisers at Orchard now, we will search the whole market to find you the best mortgage product and assist your through the whole process.

Complete our Mortgage Enquiry form here to request advice from one of our Financial Advisers

To find out more information on First Time Buyer Mortgages please Contact us

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The precise amount will depend on your circumstances but will be a maximum of £250, this fee will be payable on completion.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.