Many first time buyers despair of getting a mortgage.

Although lenders are bound by the same general principles, there are variations in the way they apply them. It really pays to work with an adviser. Their market knowledge means they can help with your application, saving time and stress.

Under the Mortgage Market Review, lenders need to ask homebuyers questions about their spending habits to ensure that they can afford a mortgage.
They will scrutinise your outgoings, looking for reassurance that your spending is under control. They need to see a track record of good budgeting and evidence that you’re paying back any debts. They will ask about your future plans too. So look closely at your budget and make sure your finances are in good shape.
Having a larger deposit can improve your chances of getting a better rate on your mortgage. Remember to budget for all the incidental costs such as surveys, legal fees, moving costs and stamp duty.

Your home may be repossessed if you do not keep up repayments on your mortgage