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First time buyer mortgages in Coventry: a simple checklist

12 May 2024 Mortgages Coventry

Buying your first home can feel overwhelming, but a clear checklist helps you move forward with confidence. As a mortgage advisor in Coventry, we often support first time buyers who want simple, practical guidance.

1. Check your deposit and budget

Work out your savings, gift deposits, and the extra costs involved in buying a home. Consider surveys, legal fees, and moving costs so there are no surprises.

2. Review affordability early

Use an affordability calculator to estimate borrowing, but remember that lenders assess your income, outgoings, and credit history in detail.

3. Gather your documents

Proof of income and employment
Bank statements showing your deposit
Photo ID and proof of address
Evidence of any gifted funds

4. Compare mortgage options

Fixed, tracker, and variable deals all come with different features. A UK mortgage broker can explain which option aligns with your goals and risk comfort.

5. Plan for protection and insurance

It is wise to consider protection and insurance alongside your mortgage so you can safeguard your home and income.

If you want personalised advice on first time buyer mortgages, contact Divine Harvest Mortgages & Protection for a calm, supportive discussion.

Speak to a mortgage advisor Try the affordability calculator