First time buyer mortgage in Portsmouth

Buying your first home in Portsmouth, Southsea or the surrounding area? Our local team will explain your options in plain English and help you work out what you can borrow.

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First time buyer mortgage in Portsmouth from Chatsworth Mortgage Group

Your home may be repossessed if you do not keep up repayments on your mortgage.

Getting on the property ladder is a big step, and the first time round there is a lot to take in. Deposits, affordability checks, lenders, solicitors and surveys can all feel like a foreign language.

Our first time buyer mortgage in Portsmouth advice is built around you. We take time to understand your income, your deposit and your plans, then explain what is realistic and what the next steps look like. Your first chat with us is free and there is no obligation.

How we help Portsmouth first time buyers

Work out what you can borrow

We look at your income, outgoings and deposit to give you a realistic picture before you start viewing homes. Lenders each assess affordability differently, so it helps to know where you stand.

Explain your options

From fixed and tracker deals to schemes that may help with the deposit, we explain what could apply to you and what each choice means for your monthly payments. Availability depends on your circumstances and the lender.

Support you to completion

We prepare and submit your application, keep in touch with your estate agent and solicitor, and keep you updated so there are no surprises on the way to getting the keys.

Getting a first time buyer mortgage in Portsmouth

Portsmouth has a mix of terraced houses, flats and new builds, and prices vary a lot between areas such as Southsea, Cosham, Fratton and Portchester. That means the right mortgage depends on the type of home you are buying as well as your own finances.

A good starting point is a first time buyer mortgage in Portsmouth conversation before you make an offer. We can give you an idea of what you may be able to borrow, so you can search with confidence and be ready to move quickly when you find the right place.

What you will usually need

Most lenders will ask for proof of identity, recent payslips or accounts if you are self-employed, bank statements and details of your deposit. We will tell you exactly what to gather, so you are not chasing paperwork at the last minute.

If your situation is a little more complicated, for example you are self-employed or have had credit issues, please talk to us. We cannot promise an outcome, as every lender and every case is different, but we will give you an honest view.

First time buyer mortgage in Portsmouth: your questions answered

How much deposit do I need to buy my first home in Portsmouth?

It depends on the lender and the mortgage you choose. Many lenders ask for at least 5% of the purchase price, and a larger deposit can open up more choice and lower rates. We will talk through your options based on your own savings.

How much can I borrow as a first time buyer?

Lenders look at your income, your regular outgoings and your credit history. As a rough guide many lenders lend a multiple of your annual income, but this varies. We will give you a clearer picture once we know your circumstances.

Do I need to pay for a mortgage adviser?

Your first chat with us is free and there is no obligation. We will explain how we are paid before you decide to go ahead, so there are no surprises.

How early should I speak to a mortgage adviser?

As early as you like. Speaking to us before you start viewing homes means you know your budget and can act quickly when you find the right property.

Can you help if I am self-employed?

Often, yes. Self-employed buyers can find it easier to borrow than they expect, although lenders will usually want to see evidence of your income. We cannot guarantee an outcome, but we will tell you honestly what looks possible.

Your first chat is free, and there's no obligation.

Tell us what you're planning. We'll tell you honestly what's possible.