First Time Buyers

Features & Benefits of First Time Buyers Main Residence Mortgages

• Borrowing up to 130% of property value / purchase price
• Interest Only payments available
• Flexibility allows overpayments, underpayments, payment holidays
• Interest calculated on daily balance
• Discounted and fixed rates normally available
• Flexibility of underwriting where appropriate

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Setting up Home in your first property can be such an exciting time but getting your foot on the first rung of the property ladder has never been more difficult.

Don't despair. Not all lenders are unsympathetic to first time buyers and ACL will endeavour to assist you to obtain the loan you need to get a place of your own.

ACL accesses the whole UK mortgage market through a national data base which is updated daily so ACL could be your be your best chance of getting the mortgage you need.

There are Schemes which respond to the requirements of First Time Buyers by advancing well in excess of 100% of the purchase price so that you can cover your expenses and make a start on furnishing your nest. Proof of affordability is essential when high loan to value mortgages are offered.

There are also Schemes which allow a close relative to join in the mortgage in order to supplement the availability of income and show that there is adequate affordability.

Before we recommend a particular product we observe very strict procedures that have been laid down by the Financial Services Authority (FSA) which you can read about on our website. See FSA Information. These are designed to protect you from being advised badly. Since 31st October 2004 anyone who gives advice on Main Residence mortgages must be authorised by the FSA which now officially regulates the home loan sector.   Unauthorised firms or persons who give any advice are committing a serious criminal offence.

You can read about Products and Repayment methods in our  Mortgage Products information.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage Protection Insurance provides cover against unforeseen eventualities that could affect your ability to maintain repayments on your mortgage such as death, illness, accident or unemployment.