FIRST TIME BUYER

With Frost Financial Services, Buying Your First Property Can Be Easy

The Process For Getting A Mortgage

Buying your first home and getting onto the property ladder can seem quite daunting but with Frost Financial Services, home ownership can be a little bit closer. Your first step is to sit down with one of our advisers who will gather information such as your employment, outstanding credit commitments and establish a budget to suit your circumstances.

Once the adviser has assessed your affordability he or she can start to look at lenders and the various mortgage schemes on offer and if required agree your mortgage in principle with a lender, whilst this does not commit you to the lender, it means that you can show an estate agent that you have been approved for the amount of mortgage required to purchase a property.

Stress Free Mortgage Repayments

New mortgage rules mean that a lender is required to assess your affordability and ensure that should interest rates rise, that the mortgage is still affordable, this may result in a lender offering you a lot less than say five times your salary, one way to increase the amount of mortgage funds available is to lengthen the mortgage term which will reduce the monthly payments and increase the amount of mortgage on offer.

Gifted Deposits For First Time Buyers

With more and more first time buyers finding it difficult to purchase their first property, many are turning to parents and relatives to help fund the deposit in full or part however if you are considering funding your deposit this way take advice as not all lenders offer this option and many will only accept the gifted deposit from a close family member I.E. mother, father brother or sister.

For a lender to accept this, the deposit has to be a gift, as a loan would count against affordability, generally the person giving the gift needs to sign a letter confirming the gift and that it is not repayable.

Gifted deposits can also work where a relative is prepared to sell their property to a family member under the market value, for example say a father has a property worth £150.000 and he is prepared to sell it to his son for £130.000 so long as the property is valued by the lender at £150.000 then this has created £20.000 deposit/equity in the property and no need for his son to put in a deposit of his own.

Why Frost Financial For A Mortgage

We save you the hassle

Our highly trained, professional advisers work with you every step of the way to make the mortgage process simple, saving you time and effort on one of life’s biggest decisions.

We’re impartial

Going to a bank or estate agent limits your options and could leave you with a deal that isn’t suitable for you. We have access to hundreds of products across the whole mortgage market and can find you the ideal product for your needs.

We can save you money

By hand-picking the best mortgage and negotiating the best rates on your behalf, we can save you up to tens of thousands throughout the term of your mortgage.

Contact our experts without delay

Our experts are on hand to help you! Enquire today by calling us on 01702 554028 or using our contact page.


    Mortgage advisers based in Hadleigh, Essex. We provide a large panel of lenders as well as loans, insurance and equity release.

    Frost Financial Services is authorised and regulated by the Financial Conduct Authority. Registration number: 300133.

    For residential mortgages, your home may be repossessed if you do not keep up repayments on your mortgage.

    With lifetime mortgages you retain 100% ownership. To understand the features and risks, ask for a personalised illustration.

    ADDRESS

    Frost Financial Services
    Endway House
    The Endway
    Hadleigh
    Essex
    SS7 2AN

    PHONE

    Frost Financial Services
    01702 554028

    PHONE

    Equity Release
    01702 861970

    EMAIL

    info@frostfinancialservices.co.uk