first time buyer Mortgage guides

Looking for your first time buyer mortgage ? When you decide to buy your first home it should be an exciting time. But, sometimes there’s so much to think about that it can be quite daunting. For example: there’s thinking about what area you want to live in, knowing what type of property to look for, and even having to find a solicitor.

On top of all that, there’s sifting through hundreds of first-time buyer mortgages, which can be quite scary. Particularly if you’re not sure about what to do and in what order to do it. Just as well we have an array of first time buyer guides to help.

First Time Buyers and Mortgage Advice are a skill we've developed at MDFS
fixed rate period your payments will remain the same

Fixed Rate Mortgage

During the fixed rate period your payments will remain the same. Whatever happens to interest rates during this time, whether they go up or down, your payments will not change. This can be a great help when it comes to budgeting. It also provides valuable peace of mind, that you won’t suddenly see your payments increase if interest rates go up.

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When choosing a mortgage, you’ll need to consider different mortgage interest rates and fees you’ll be charged.

Different Mortgage Rates

When choosing a mortgage, you’ll need to consider different mortgage interest rates and fees you’ll be charged.

There are two main types of mortgage rate, there are Fixed Rates, where the interest you’re charged remains the same for several years, usually between two and five years. And there’s variable rates, where the amount you’re charged can go up and down.

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How mortgage work, our team can help with this

How Mortgages Work

When it comes to getting a mortgage your personal needs and preferences are unique. For this reason, it’s good to know how mortgages work generally. It’s also good to have an idea of what options might be available.

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Cashback Mortgages

With cashback mortgages you’re given some cash when you take out your mortgage.

The cashback sum might be a proportion of the amount you’re borrowing (for example 1%) or might be a fixed amount (for example £500).

You receive the cashback on completion, not before.

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Different Mortgage Rates, find out more about how they work

Online Mortgage Advice


Now you can book online mortgage advice appointments, with a qualified fees free mortgage broker, 24 hours a day 7 days a week.

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Keyfacts Illustrations – Mortgages

The keyfacts Illustration document or the ESIS if that is given to you instead, makes it easy for you to compare the total cost of mortgages side by side because the documents contain the same information, usually presented in the same way.

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MORTGAGES FOR DOCTORS  - At MDFS, we understand your needs and circumstances as a Doctor and can assist you in getting a Doctor mortgage.

Mortgages for Doctors

As a doctor, including as a locum doctor, you may find yourself working for short periods of time on random shifts and doing flexible hours. This could result in you having several gaps within your employment. There are currently a range of lenders which will consider lending based on your annualised contract rate. You may also be able to borrow more than you think, as this will ensure that any tax deductions on your payslips will not affect the mortgage affordability.

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Rent or Buy a home

“Should I rent, or should I buy?” is something a lot of people ask themselves. Buying a house or a flat is one of the biggest financial decisions you’ll make, so it’s important to get it right.

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*first time buyer*

First Time Buyers are classified by most mortgage lenders as those who have either:

  1. Never owned a property or
  2. People who have owned a property in the past, but not owned one for six months or more.

For each lender, the rules and ideas about this differ. There usually are no issues in being a First Time Buyer. To qualify for stamp duty relief, First Time Buyers must have never been property owners in any location in the world previously.

The mortgaging process might appear to be challenging, but this isn’t necessarily so. Buying your first home can be exciting, so if you come across a suitable broker who can handle the process for you at a fair price, do take advantage of their expertise. The purpose of using one is straightforward enough. After all, if you don’t know a thing about cars and yours breaks down, you would rather call a mechanic than fix it yourself. The same applies to mortgages. With mortgage brokers, you can cut down on money, effort and time, so you should use one. You won’t have to pay for the initial consultation.

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Massey Divall Financial Services are an appointed representative of The Right Mortgage Limited which is authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate most buy to let mortgages.

The guidance and /or advice contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK

Conveyancing isn’t regulated by the Financial Conduct Authority.

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We do not charge a fee for mortgage advice. We offer customers fee free mortgage advice. Our expert mortgage advisers will help you get a market leading mortgage deal. We help you throughout the entire mortgage process. There are no hidden costs or surprises. Try our fee free advice for your mortgage.


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