Buying your first home is one of the most exciting things you can do. It can also be one of the most stressful. In today’s competitive property market, first time buyers have to work hard to meet the criteria that lenders set. There is a vast array of mortgages on the market offered by a wide range of providers which can be confusing. As it is such an important purchase it can be difficult to know where to start, this is where the friendly team from Limetree in Cambridge can help.

We advise on the best first time buyer mortgages for you


We have over 75 years’ industry experience and have a vast knowledge of the first time buyer mortgage market. As an independent financial advisor and mortgage broker we don’t have allegiances with particular lenders so you can be sure you will get the best deal available on the market that is perfect for you. We can help you understand the choices that are open to you and advise you on the best first time buyer mortgages that suit your situation.

As a first time buyer you may not be familiar with the buying process but there is no need to worry, we help you every step of the way and ensure you are kept informed at every stage. Before we begin researching first time buyer mortgages that will be available to you, we will work out how much you will be able to borrow. Then we will search the market and ensure you understand how the interest rates and different mortgage offers will affect your monthly payment.

Our friendly team can help you get onto the property ladder and hopefully help you avoid some of the stress involved. Their guidance will be invaluable and your own personal advisor will ensure your individual needs are met. Being a first time buyer has its advantages as, despite the difficulties currently being faced, there are great deals in the competitive market place and we are here to help you take advantage of them.

So if you are ready to take the first step to get into the property market today then call one of our friendly advisors who can offer mortgage advice to help you reach your goal.

Latest first time buyers posts

Five tips to help secure the best mortgage for you.

As experienced mortgage brokers we’ve spoken with many people with very different financial situations. There are five things that everyone should do, regardless of how deep your pockets are, to maximise your chances at getting the best mortgage.

  1. Save the biggest deposit you can: Mortgage lenders reserve the best rates for people who can deposit the largest amount.  The loan-to-value is the proportion of the property’s value that you are borrowing. Mortgages are priced by the loan-to-value – the higher this figure is, the more expensive the mortgage will be. E.g. If you can put down a 15% deposit, instead of a 10% deposit you may be rewarded with a lower mortgage interest rate. To get the most competitive mortgage deals on the market, you will usually need a deposit of 25% upwards.
  2. Know your credit score: When you make an application for a mortgage, lenders will refer to your credit score. This is to help them decide if they think you’re a risk worth taking – as a borrower, they need to assess as a borrower you will be a responsible and reliable and likely to repay the debt. Usually, a higher score means you’re seen as lower risk – the more points you score, the more chance you have of being accepted for a mortgage, and at better rates. If you have a low credit score there are things you can do to improve it, we can advise and guide you to get your score back up to where it needs to be.
  3. Pay off unsecured debt and closed unused accounts: If you’re not using an account or credit card it is worth closing it. Lenders will look at the total amount of current and available debt and deduct any credit you have open – even if you aren’t using it.  Because you have the potential to use the credit or an overdraft facility they have to take this into account and this could reduce the amount they will lend you for your property purchase. Additionally leaving open old accounts that you aren’t monitoring could mean that you be a fraud risk, and could also mean some of your details may be out of date which can affect your credit score.
  4. Get on the electoral roll: Lenders need to identify you.  The easiest and more reliable way they can do that is by checking the electoral roll. Your mortgage application may well be refused if you are not registered on the electoral roll at your current address. This is easily remedied. Contact your Local Authority and ask for a registration form or sign up online.
  5. Be prepared with all your documents: A mortgage lender will also require further identification to prove who you are, so make sure you have a current passport and that the address on your driving licence is correct. Other documents you will need to provide include payslips and bank statements for the last three months. You will also need P60s for the last two years, and for employees who receive a bonus must provide evidence of this too. If you receive any other income, such as benefits or maintenance payments, you’ll also need documents to prove this.  If you bring these documents (or send secure copies) to your meeting it means we are armed with all the information we will need to move forward quickly with finding you the best mortgage.

We hope you found those tips useful, if you have any questions or want more information contact us directly or visit the website.

James Hammond

Managing Director

Limetree Financial Services

01223 266140

jhammond@limetreefs.co.uk