Brilliant Money specialise in tailored mortgage solutions, creating a sense of ease around the mortgage market and removing burden from the shoulders of applicants with our streamlined service.
We provide a comprehensive service to all clients, especially First Time Buyers as the thought of stepping on to the property ladder can be a daunting experience.
First time buyers should initially consider a combination of two factors:
How much deposit can they afford?
How much can they afford to repay on a monthly basis?
A combination of good credit and a strong deposit only strengthens your position in securing a mortgage.
It is important to remember that as a First Time Buyer there are many considerations that may impact the affordability for the purchase, Lender Fee’s and solicitor’s charges are important to factor in to the budget for the purchase.
As part of the Brilliant Money service we supply an AIP (Agreement in Principle), sometime also referred to as a Decision in Principle (DIP) or Mortgage Promise from the lender free of charge, these are a reassuring tool for our clients in order to show vendors that there are lenders in the market willing to lend to you at your purchase price.
The deposit that is placed on the property is an all important factor to the rate you can be quoted by lenders, the rise of 95% help to buy mortgages has helped bridge the gap to a young professional market. However if the capacity is there to save up to 25% this will result in several more favorable rates being produced by the lenders.