Empowering your decisions
We believe in empowering you with knowledge. Our experts will demystify the mortgage process, explaining all your options clearly, so you can make informed decisions with confidence.
Welcome to your first step towards homeownership! Navigating your first mortgage can seem daunting, but at Somerset Financial, we’re here to make your journey to owning your first home as smooth and straightforward as possible. With expert guidance and personalized advice, we’ll help you find the perfect mortgage solution that fits your unique needs.
Key details to help you understand this option at a glance.
Help you buy your first home with a suitable mortgage
Subject to deposit, income and lender criteria
Flexible terms depending on the product and lender
First-time buyers purchasing their first home
Somerset Financial acts as a credit broker, not a lender
A first-time buyer mortgage helps you purchase your first home. Lenders look at factors such as your deposit, income and credit history, and products can include fixed-rate, variable-rate and tracker options.
At Somerset Financial, we break down the jargon, explain eligibility in plain English, and guide you through each step of the application — from gathering documents to completion.
A clear path from first conversation to a mortgage that fits your circumstances.
Typical reasons people speak to us about this type of mortgage.
Support designed to make the process clearer and more manageable.
This option may be relevant if you recognise yourself in one of the situations below.
A straightforward, supportive process from initial discussion through to completion.
We take time to understand your circumstances, goals and what you need from your mortgage.
We explore suitable mortgage options based on your deposit, income and property plans.
We support you through the application process and liaise with lenders on your behalf.
Once your mortgage is approved and completed, you can move forward with confidence.
Straightforward support to help you explore suitable mortgage options.
Our experienced advisors provide one-on-one consultations to understand your needs and guide you through your mortgage options.
With access to over 200 UK lenders, we ensure you have a broad selection of mortgage products to choose from.
From your first inquiry to getting the keys to your new home, we provide ongoing support, ensuring you feel confident and informed throughout the entire process.
We explain available products and next steps clearly so you can make informed decisions.
We support you from first enquiry through to completion and beyond where needed.
Whether you are buying, remortgaging or restructuring, we keep your objectives front and centre.
Clear answers to questions we are often asked.
Typically, you'll need a minimum deposit of 5% to 20% of the property's purchase price. The exact amount can vary depending on the lender and your financial circumstances.
Yes, it's possible, but options may be limited. Higher interest rates or a larger deposit might be required. We can help find solutions tailored to your credit situation.
On average, the process can take between 18 to 40 days from application to approval. Completion times vary based on individual circumstances and the complexity of the case.
The main types include fixed-rate, variable-rate, and tracker mortgages. Each has its benefits, depending on your financial goals and risk tolerance. We'll help you understand which is best for you.
While not always a requirement, life insurance is strongly recommended to protect your mortgage payments in case of unforeseen circumstances. We can advise on suitable protection plans for your needs.
Explore other mortgage options that may also be relevant to you.
Speak with Somerset Financial about your requirements. We act as a credit broker, not a lender, and can help you explore suitable options.