First-Time Buyer Mortgages

Buying your first home in Tamworth, Atherstone and beyond is an exciting milestone, but it can also feel overwhelming. At Halcyon Mortgage Services, we’re here to make the process as simple, straightforward and stress-free as possible, providing expert mortgage advice tailored to your individual needs.

What is a First-Time Buyer Mortgage?

A first-time buyer mortgage is designed specifically for people purchasing their first property. Depending on your circumstances and lender criteria, these mortgages can offer:

Low deposit options – with mortgages available from as little as a 5% deposit, and in some cases even 1% or 2% deposit schemes.
Additional lender incentives – such as cashback offers, enhanced affordability assessments, and other product benefits (subject to eligibility and lender criteria).
Flexible lending solutions – including income boosters and criteria designed to help first-time buyers maximise their borrowing potential.

How Halcyon Mortgage Services Can Help

Our experienced advisers will help you:

Understand how much you may be able to borrow.
Work out your likely monthly payments and upfront costs.
Compare mortgage products from a wide range of lenders.
Find a mortgage that suits your circumstances and future plans.
Navigate the entire home-buying process with confidence from application through to completion.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Common First Time Buyer Questions:

Do I need a Large Deposit?

Not necessarily. Some buyers get started with as little as 5%. There are even new products on the market that accept 1% or 2% deposits and some deals that require only £5000 total deposit for your first mortgage.

What is an Agreement in Principle (AIP)?

An AIP provides you with an early indication of how much you can borrow. We can arrange this for you and provide current mortgage costs based on your circumstances. After completing an initial fact find we can process this for you within 24 hours.

How much can I borrow?

How much you can borrow depends on your income, deposit amount, outgoings and credit history. Each lender has different approach to assessing affordability. We will assess your circumstances and compare deals across the whole of market.

How much are mortgage advisor fees?

We offer a free initial consultation to assess your circumstances. We then charge a £295/£395 advice fee for standard mortgage applications. This is great value considering the average mortgage broker cost across the UK. For more complex cases we can charge up to £495 for advice and implementation.

What fees should I budget for?

Fees may include:

– Mortgage Advice Fee – ours is between £295/£395 on application for standard cases

– Solicitors Fees – we can help you find quotes for this

– Stamp Duty Costs – depending on your final purchase price

What documents do i need to apply?

You will be required to provide:

– Proof of Income (payslips or self employed accounts)

– Bank Statements and proof of expenditure

– ID documentation

– Proof of Deposit (savings, ISA, Gifts)