Providing individual mortgage advice; unique to you

Buying your first home can be a very exciting albeit daunting experience which is why it is important to get the right advice at the very start. There are many different mortgage products to choose from so it is important to get the solution that best meets your needs.

To help you to make the right decision we have put together our Top Tips for first time buyers:

How Much Can I Borrow?

It is important to be realistic when working out how much you can spend on your new home. A budget planner will help to ensure your mortgage is affordable. Remember a mortgage is a long-term commitment and there are lots of different products available, so it is important you get the right solution for you.

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How Much Deposit Will I Need To Put Down?

When choosing a mortgage, you can see which deals you might qualify for based on the size of the deposit you have by looking at what is known as the mortgage ‘loan to value’ (LTV). For example if you are looking to buy a property valued at £100,000 and have a £5,000 deposit you will be looking to borrow 95% of the property value. Typically, the more deposit you have to put down the better the mortgage rates will be.

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Have You Considered Any Extra Costs?

Even a newly built house will require some sort of furnishings, whereas older properties may require extensive work, such as re-flooring, tiling or renewing the wiring. These should be considered alongside the purchase price, and fees such as conveyancing and stamp duty.

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Know What To Look For When Viewing Properties

Always take an experienced home buyer with you when viewing properties as there may be important details you could be missing out on.

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Household Budgets

If you have been used to living at home with your parents, remember to budget for expenses such as council tax, gas and electricity bills, boiler servicing, and other home repairs

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Council Tax Charges

Make sure you know what the likely council tax charge will be in your new property. The selling agent should be able to tell you what tax band the house you are interested in buying is in, and how the charges are levied by your local authority.

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Call our experts today for more information

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Organizing a property Survey

There are three main types of survey. A basic valuation, a Homebuyers report and a Full structural. A basic valuation will be commissioned by the mortgage provider and is for their benefit. They will be looking at whether the property is of adequate security to lend against. The report is basic and lenders will disclaim any responsibility for the condition of the property. A HomeBuyers Report will be carried out by a RICS Surveyor and look to document any problems in a property that could cause damage and need future repairs. A HomeBuyers report only checks for easily visible problems and is carried out for your benefit not the mortgage lenders A full structural is the most detailed and most expensive report and is usually done on properties where a full assessment is needed i.e. properties that are over 100 years old, unusual buildings and/or properties known to have structural issues.

What Other costs Involved?

When buying a house there are other costs and fees to be aware of. Typically, the following may apply:

  • Mortgage arrangement fee
  • Valuation fee / Survey costs
  • Legal fees
  • Stamp duty
  • Removal costs
  • Property agent fee
  • Mortgage Broker fees

What Our Clients Say

Jake Lawrence
Jake Lawrence
2021-04-05
Richard helped us every step of the way, explained everything thoroughly, answered every question we had and kept us well informed at every opportunity. Me and my partner would highly recommend Richard to assist anyone with their finances!
Scott Thompson
Scott Thompson
2021-01-22
Professional service very good communication throughout the entire process. Would highly recommend them to any first time or buyers and or buryers in general.
Aaron
Aaron
2021-01-19
Fantastic service from start to finish from Richard. We didn’t feel stressed at all through the process as Richard was always on hand to give advice and support on both mortgage and insurance matters. I have already recommended Richard to my family and friends and will be using them again in the future.
Barrie James
Barrie James
2020-11-19
I was Very happy the mortgage advise I received, the staff member I dealt with Richard was extremely helpful pleasant and went out of his way to help me with my mortgage. Would recommend to anyone.
Katelyn
Katelyn
2020-11-03
Richard was very helpful. The service we got from him was excellent, he explained everything throughly to us which really helped. I would highly recommend him.
Sean Austin
Sean Austin
2020-11-03
Really helpful and understanding and go out their own way to help you
Dave McCourt
Dave McCourt
2020-11-03
First class service. Richard was more than helpful. Extremely efficient and always kept me well updated throughout the process and explained everything clearly. I wouldn’t hesitate to use or recommend this company and Richard again
Zoe Stephenson
Zoe Stephenson
2020-10-04
We remortgaged with Three rivers financial and Richard and the team did a fantastic job in finding the right one for us. Would highly recommend them.
Sara Kemp
Sara Kemp
2020-10-01
Richard has been absolutely fantastic through our COVID mortgage journey and has really thought outside the box to find us solutions! Would 110% recommend.
Mal Law
Mal Law
2020-09-29
We used Three Rivers Financial to source and organise our mortgage. We are not getting any younger and it’s hard to get a mortgage as you get older. However, Three Rivers Financial came up with a perfect solution for us. I’d just like to say a huge thank you and would strongly recommend this team.
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