First Time Buyer Mortgages FAQ's 

First Time Buyer Mortgages FAQ's  

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A first time buyer mortgage is a mortgage specifically for buyers who have never owned a home. 
 
Not really. The rate you'll pay will depend largely on the size of your deposit. The fact that you're a First time buyer has no impact. In fact, first time buyer mortgages tend to come with incentives such as cashback or free legal services. 
 
First time buyer mortgages are available at a range of loan to values (LTVs) - the ratio of the loan amount needed compared to the cost of the property. The larger deposit you have the lower the LTV. Lower LTV mortgages tend to have cheaper rates. 
 
You could face an arrangement fee, product fee, valuation fee and legal fees although not all fees apply to all products. 
 
You will have to meet your lender's affordability criteria. The lender will want to know you can afford to repay the loan and each lender has its own means of assessing affordability. You'll also need to adhere to the lender's standard criteria, including being within its age limit and having a good credit score. 
 
Mortgages aimed specifically at first time buyers tend to feature incentives such as money towards legal fees, cashback or low fees. 
 
There aren't any downsides specific to first time buyer mortgages, but as a first time buyer it's important to bear in mind all of the costs involved in taking out a mortgage and ensure you are able to afford the monthly repayments. 
 
Your lender will want to make sure you can afford to repay the mortgage so keep your finances in order, check your credit score is good (and take steps to improve it if need be) and where possible reduce your outgoings. Also, remember the bigger your deposit the better the rates available to you so save as much as you can before buying. 

Remortgages FAQ 

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Applying for a remortgage is a similar process to applying for an initial mortgage. You'll need to undergo affordability checks, your property will have to be valued and you'll need a deposit (usually provided by the equity you have in your home). 
 
No you don't. You can choose to stay on your lender's default rate, known as its Standard Variable Rate (SVR) or move to another deal with your current lender. 
 
Remortgaging gives you a chance to access new deals that may not have been available to you when you originally applied for a mortgage. 
 
It can be a costly affair as you may face all the same fees you did when originally applying for a mortgage including an arrangement fee, booking fee, valuation fee and legal fees. Furthermore, if you remortgage before the end of your current deal you could face an Early Repayment Charge (ERC). 
 
There is no limit to the amount of times you can remortgage but it's worth bearing in mind the costs involved. 
 
The fees involved with remortgaging are the same as those you'd face when originally applying for a mortgage including a valuation fee, arrangement fee, booking fee and legal fees. Not all fees apply to all mortgages however. 
 
If you don't have sufficient equity in your home or your circumstances make it impossible for you to get a new mortgage deal, your only option is to stay on your lender's Standard Variable Rate (SVR). If you are struggling however, it is essential that you speak with your lender. 

Frontline Mortgages FAQs 

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Frontline Mortgages is a whole of market mortgage broker, providing free mortgage advice to all individuals working or volunteering within the following professions in the UK: 
Ambulance Service 
Border Force 
Emergency Response Unit 
Fire Service 
First Responders 
Highways Agency 
Immigration Enforcement 
HM Armed Forces 
HM Coastguard 
HM Prison Service/HMPPS 
Independent lifeboats 
MoD Civil Servant 
MoD Fire Service 
MoD Police 
Mountain Rescue 
NHS 
NHS Dental Practice 
Police Service 
RFA 
Red Cross 
RNLI 
Search & Rescue 
St Andrews Ambulance 
St John Ambulance 
UK Border Agency 
UK Visas and Immigration 
Veterans 

Don't just take our word for it 

Don't just take our word for it 

Here are a few ways we have changed our customers’ lives. 
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