First Time Buyers
First time buyers typically have a small deposit to put towards their first mortgage. The general rule of thumb when it comes to first time buyer mortgages is that the smaller your deposit, the higher the rate of interest you will be charged by the mortgage lender. The smallest deposit you can currently have to get a mortgage today is 5% of your property purchase price.
If you are just setting out on your property search, or are simply wanting to know how much you can borrow based on where you are in your medical career, then it pays to talk to a medical mortgage professional sooner rather than later.
If you are a junior doctor, a locum, GP or consultant we can help you when it comes to buying your first home. You don’t always need to be be at a certain point in your career before you can be considered for a first time buyer mortgage. In some cases, we can help secure a first time buyer mortgage for doctors who haven’t even begun a contracted placement yet, or who have only been a practice partner for a few months.
Our advisors can also give advice on and help you apply to the government’s ‘Help To Buy Scheme’, which can help doctors looking to buy a new build get a foot on the property ladder sooner.