How much can I borrow ?

This is the single biggest most asked question to any mortgage advisor, lets face it whats the point of looking at a £200k house if your budget will only stretch as far as the front door.
generally speaking the loan amount is dependant on circumstances of the individual, but for ease in answering this we will assume that all is well in the credit file, and your joint incomes are £45K per annum, this will allow you to look at property around the £180-£200K, as a rule of thumb a lender will allow the income per annum to be multiplied by 4, this can be increased slightly case on case, and circumstances can change it. There are also a growing number of lenders that will allow you to borrow based on affordability, this is obviously the best route, as it ways up all you finances and in most cases allows a slightly higher stretch than the income multiples, which in turn allows you to borrow a little bit more.

Mortgage interest rates 1762: Mortgage interest rates 1762

Mortgage interest rates 1762: Mortgage interest rates 1762

My company offers the entire spectrum of interest rates, as we are all aware the bank of england increased its rates last week by 1/4 % this of course has had a knock on effect with the lenders, who in turn are all in the process of increasing there rates if they havent already done so, what a clever property purchaser should do is seek out a good intermediary with access to the whole of the market, that way they csan be sure of obtaining the best deal out there.
my company does just that. dont just visit your trusty bank who you have banked with for years, believe me they may have the best deal but why take the risk because they could be second best and unless you have spoken to someone like myself you will never no!

First time buyers Mortgage

Generally speaking a first time buying experience should be one of excitment, and fear its a strange feeling for a prospective client, which can be compunded by the fact that in some cases this is the first time they have left home. This is not the case in every first time buyer, but i have recently had a few new to the market purchases, along with the just leaving the nest.
As an advisor you are right they are no different to any other type of home purchaser, lets face it they all need some advice, but thats where the tale differs i feel, as a subsequent purchaser who already has a few years property buying under their belt then the advice you give changes in the fact that you dont want to appear like you are teaching them to suck eggs.
A first time buyer however, unless they have spent weeks trawling the net for advice, will be as uneducated in this area as a child starting school for the first time they need all the help assistance and guidance that a good broker should offer them. its not a case of treat them all the same, the words are treat them fair. do not expect them to know all the answers and dont speak in jargon.