River Finance Ltd

River Finance are Mortgage and Protection Advisers. We offer a first class service in helping you find the most appropriate products for your mortgage and protection needs from a comprehensive range of mortgages from across the Market. Our qualified advisers help reduce stress by explaining the advice clearly and honestly through every stage of a transaction, making sure you understand, and are happy with the terms of any products we recommend.

First time buyer

  • Find me a mortgageFind Me a Mortgage

  • Today's Best Mortgages
  • Free Loan Calculators
    • How Much Can I Borrow?

      Mortgage Borrowing Calculator

      Please enter the income for the first and (if appropriate) second applicants and the maximum borrowing will be calculated

      Applicant 1 income £
      Applicant 2 income £
       
      Maximum borrowing £

       

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

       

      For mortgages we can be paid a fee, usually up to £1,500 or by commission. Typically the fee charged is around 0.35% of the loan amount.

    • How Much Could I Pay?

      Mortgage Payment Calculator

      Please enter the requested values, and then the monthly payment will be calculated

      Loan amount £
      Rate %
      Term years
      Repayment Interest only
       
      Monthly payment £

       

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

       

      For mortgages we can be paid a fee, usually up to £1,500 or by commission. Typically the fee charged is around 0.35% of the loan amount.

  • Request a Call BackRequest a Call Back

For a free initial consultation, you can speak to one of our expert advisers on:

01440 730743

Or request a call back

Done!

You may find buying your first home a little bit daunting.  With the challenge of finding your first property, choosing the right mortgage, selecting the best solicitor and making sure the whole process runs smoothly, you may find the information below useful to help you achieve the first rung of the property ladder.

 

The first step is to contact us and we will advise you on the mortgage options available to you.  It doesn't matter if you haven't found a property just yet, we can provide you with some facts and figures that will help you select the property within your price range.

 

In the meantime we've outlined below some background information on mortgages for first time buyers that we hope you'll find useful.

 

How much can you borrow?

 

The amount of mortgage you can get depends on your income.  Some lenders use a multiple of your income others look at how much you can afford based on your income and outgoings.  As a rough guide, a typical multiple is four times your income. This figure could be higher or lower depending upon your individual circumstances and different lenders' criteria. Lenders who look at what you can afford, base this on the number of people and any loans or debts that you have outstanding.  Some lenders offer very good deals for first time buyers, so it is always worth asking us to research the market on your behalf.

 

What other costs do you need to be aware of?

 

It is also worth remembering the additional costs, on top of your deposit and mortgage that you will be expected to pay.

 

For example, you will have to pay stamp duty for the property which you are purchasing.  The amount of stamp duty varies depending on the price of the property.

 

Plus you will have to pay for the survey and the valuation of the property, and solicitor's fees.

 

You may also have fees to pay to the lender for your mortgage.  These could be an arrangement fee and/or booking fee.  Contact us to find out how much these fees may be.

 

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


The FCA does not regulate some forms of buy to let mortgages

 

The FCA does not regulate conveyancing

 

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