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First-time buyer specialist mortgages

Posted: 29/11/2017

Over the past 12 months, there has been a sharp increase in interest from first-time buyers who are looking to take their first step onto the property ladder and following last week’s stamp duty changes, we expect these figures to rocket during 2018.

For example, a monthly report released by Connells Survey & Valuation in July found that first-time buyers were behind approximately 50% of all purchase valuations on properties in the UK. That’s a 6% rise over the five-year average.

Not all first-time buyers fit the high street mould, so it’s important that you can find a home for cases which require manual underwriting teamed with a common sense approach. As a whole of market Broker and Packager, Ingard can help you to place the majority of cases which come across your desk.

We can work you in two ways; you can either refer the client over to us and we will advise the client and process the case or you advise the client and we will package the case – the choice is yours. Whichever option you choose, you will always retain your clients!

Here are just a few types of first-time buyers we can help you to place:

Customers with bad credit

We work with lenders who offer mortgages for customers with all types of current and historic adverse credit; including DMPs, IVAs, CCJs, unsecured arrears etc. In fact, some of our lenders completely ignore adverse over 12 months old or accept DMPs as part of the customer’s monthly commitments!

Self-employed customers with only 1 year’s accounts or SA302s

We work with lenders who will accept self-employed customers with less than 3 year’s credit history on their standard ranges. Rates start from as little as 1.89%.

Customers who are being gifted a cash deposit from a close family member (not just parents)

Some lucky first-time buyers may be receiving a cash deposit from parents, grandparents or a close family member. We have a lender who offers a 95% mortgage, where a 5% deposit can be gifted.

For help placing a specialist case, call our Specialist Team on 01702 538 800 or request a call back.