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Lending options for your new home

If you are looking to move up the property ladder, buy your ‘forever home’ or purchase a property to generate an income, a Fairstone mortgage expert can help you find the property finance solution that best suits your needs.

Mortgage options for first time buyers

Whether you’re taking your first step onto the property ladder, or you’re a parent or grandparent looking to help your child or grandchild purchase their first home, we are able to access an appropriate mortgage solution that suits your needs.

New Home Mortgages

As new build mortgage specialists, Fairstone has access to exclusive new build mortgage rates which are not available on the high street.

Protecting your property

Whilst buildings and contents insurance may sound straightforward, it is important to remember that the cost of replacing everything that you own could be financially crippling.

It is also important to make sure that you aren’t under-insured, especially if you own a high value home, as this could mean higher value repairs in the event of damage.

Whether you are a first-time buyer, moving home or simply wishing to take advantage of a more competitive rate, it is important that you have the right mortgage solution.

Finding the right mortgage for you and your individual circumstances is paramount.

The products on offer from lenders are always changing. Fairstone’s mortgage experts understand the complex property market and have the experience needed to identify trends and navigate any difficulties that could arise, ensuring you get the deal that is right for you.

The type of finance you need to secure your home will depend entirely on your personal circumstances, however our advisers can provide key areas of mortgage advice.

Mortgage advice - your key questions, answered

How do I repay a mortgage?

You have two options; a repayment mortgage or an interest only mortgage.

With a repayment mortgage you repay both the capital and the interest together in fixed instalments over an agreed period of time. Provided you keep up your repayments, your entire mortgage will be repaid at the end of the term.

With an interest-only mortgage, you pay the interest due but none of the amount you have borrowed. While your repayments will be less than an equivalent-sized repayment mortgage, at the end of the term you still owe the original amount that you borrowed. The remaining capital will be repaid under the conditions outlined by the mortgage lender. You should be aware that very few lenders now offer interest-only mortgages.

How will my mortgage interest rate be set?

You will need to make a decision on which type of interest rate is going to work best for you. Mortgage interest rates fall into two main categories; fixed-rate and variable rate, although there are a number of variations within each of these categories.

A fixed rate mortgage is set for a particular period of time and the interest you are charged will stay the same throughout the deal.

With a variable rate mortgage, your interest rate can change at any time. This means your payments could rise or fall as interest rates fluctuate.

How do you get a mortgage for new homes?

New build properties can be attractive for many reasons; however, it is important to remember that when it comes to applying for a mortgage, lenders apply different loan criteria than they do when lending against established properties.

House builders sometimes have special incentives and these can look like great deals – but you must use a lender who will accept them.

Fairstone specialises in mortgages for new build properties. We have long-term relationships with many of the UK’s largest house builders and the expertise to help you navigate their incentives and offers.

Our team of experienced mortgage advisers understand that only certain lenders will accept mortgage applications for new build properties and will ensure that you only apply to appropriate lenders, saving you time and helping you to secure your new home.

What information do you need to apply for a mortgage?

In order to assess your requirements and provide you with indicative mortgage costs, our adviser will need the following:

  • Full names and three years address history
  • Details of your occupation and income (latest two years income figures if self employed)
  • Your deposit amount
  • Details of any current existing mortgages you have (including buy to lets)
  • Details of any other financial commitments such as car loans, bank loans, credit cards etc
  • Details of the property you would like to purchase including purchase price, accomodation and anticipated build completion date.

Do I need to protect my property?

A mortgage is the biggest financial commitment most of us make in our lifetimes and it is vital that you are protected should the unexpected happen.

Fairstone’s specialist protection advisers can help you choose a comprehensive protection package that’s right for you and your family.

We can help you ensure that, should the worst happen, your home and possessions are protected and you can still meet your mortgage payments.

This could include:

  • Buildings and contents insurance
  • Life cover
  • Critical illness cover
  • Cover for long-term sickness

Applying for a mortgage with your Fairstone adviser

If you're looking to move up the property ladder, buy your ‘forever home' or purchase a property to generate an income, a Fairstone mortgage expert can help you find the property finance solution that best suits your needs.

We're local to you

With over 40 locations nationwide we strive to provide local, face to face advice to over 70,000 clients.

Chartered and Defaqto status

Fairstone is proud to incorporate one of the UK's largest Chartered financial planning firms as well as our managed investment portfolio's being Defaqto 5-star rated for six consecutive years.

Committed to quality

Don't just take our word for it. Our clients have, and continue to rate us 5 stars on Truspilot with over 5,000 reviews.

Matching you with the right local adviser for your needs

We have over 650 local advisers specialising in investment advice all the way through to retirement planning.

Provide some basic details through our quick and easy to use online tool, and we’ll provide you with the perfect match.

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Simple, online and personal. Provide some details and let us do the rest!

  • 1 Tell us about your financial goals
  • 2 Tell us about yourself
  • 3 We'll get in touch to match you to an adviser