Mortgage For Young Couples

In todays world young couples can find it increasingly difficult getting on the property ladder, but here at First Choice Finance we have a number of mortgage options for young people who are both single or in a relationship. To help young couples take that first first step buying a house their are a number of specialist mortgage products on offer, as well as government schemes such as help to buy scheme, share ownership, shared equity schemes and starter home schemes. We have experience helping young couples through these schemes making the purchase of your first home as easy of a process as possible.

First Choice pride ourselves on having excellent knowledge on the different mortgage options available for first time buyers, we have over 30 years experience arranging mortgages and have an excellent working relationships with lenders.

Joint Mortgage For Young Couples

Couples often have more options than single home buyers, in most circumstance the couples will have a larger household income allowing them to borrow more and afford a larger selection of homes. When taking out a joint mortgage the lender will examine both applicants credit histories, so if either of you have issue`s on your credit profile then this will impact on the mortgage options available to you and the cost of the mortgage. When you enquire online to First Choice Finance a qualified mortgage adviser and not a computer will examine your enquiry and will look to find a deal that best suits your circumstance. As a mortgage broker we have options not available direct and can help often people who may have had difficulty obtaining a mortgage in the past.

How to get a mortgage if you are a young couple

If you are looking at buying your first property together their are a lot of thing to help improve your chances of getting approved, firstly ensure you are not missing any existing credit, this includes credit cards, loans and even mobile phone bills, missed payments will result in increased rates or less mortgage options. Other factors lenders will look at is your previous addresses, employment status and earnings as well as your affordabilty examining your income and outgoings.

Mortgage schemes for young people / young couples / first time buyers

Because of the high cost of property and the increased scrutiny by lenders since the credit crunch, young people have had increased difficulty arranging a purchase mortgage to buy their first house. Their are a number of government schemes as well as specialized plans provided by mortgage lenders to help young couples in buying a home, a First Choice Mortgage adviser can give you more details and help you through the schemes.

• Help a hand mortgage - A new mortgage deal offered which require`s no deposit by the buyer, instead a family member puts the purchase price deposit into a fixed term saving account.
• Family Springboard Mortgage – similar to the help a hand mortgage a helper provides 10% security for the first five years of the mortgage.
• Family Deposit Mortgage – Your parents can use equity in the family home as equity in the young couples first home
• Shared Ownership Scheme - The young couple can purchase a percentage of a new build property, while the builder will retain the rest of the equity, you will be charged a rental charge for the remaining percentage, which you can then purchase later on.
• Help To Buy - A government scheme offering help lending you a percentage of the purchase price from the government

For more information please compete our short enquiry form or call us and discuss your needs and requirements with a qualified mortgage adviser to discuss your requirements.

Homeowner Secured Loans 9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE) First Choice are tied to certain unsecured lenders.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on immovable property.

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.