What is a first time buyer mortgage?
To qualify as a first time buyer you cannot have previously ever owned any residential property. Even if this was some years ago and you have now sold the property, you will not qualify.
This is important because First Time Buyers (FTB) currently receive special reduced rates for Stamp Duty and are also eligible for other savings and property schemes. Learn more about Stamp Duty Land Tax.
The mortgage lenders will ask questions concerning your eligibility and your conveyancing solicitor will also make some more formal checks.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.