Start your home ownership journey with Yomo
Buying your first home is a monumental milestone but many can find the process daunting. Emotions run high, balancing eagerness with caution, as dreams of homeownership materialize. But behind the excitement there is a need to assess budgets, weighing affordability and long-term commitments to find the best mortgage product tailor specifically for you. Here at Yomo Finance, we are determined to offer our clients access to the very best rates coupled with excellent service and ensure that you get the keys to your new home as quickly as possible.
Finding the best product for you
Depending on your income, budget and circumstances, there is a huge range of mortgage products to choose from from a variety of lenders. Yomo Finance can help you narrow down the choice and choose the product that works best for you. You may prefer a fixed rate mortgage, where the interest rate is set at a certain percentage for a number of years, or a tracker mortgage, where the interest rate is set at and follows the Bank of England base rate. We’ll discuss all options with you to help you make an informed choice
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What is the minimum deposit required for a first time buyer mortgage?Typically you need at least 5% of the property price.
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What government schemes are available to help first time buyers?Schemes like Help to Buy and shared ownership are available along with new schemes like First Home and Deposit Unlock.
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What are the different types of mortgages available for first time buyers?Fixed rate, variable rate and tracker mortgages are common options.
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How do I know how much I can afford to borrow?Lenders will assess your income, expenses, and credit history to determine your borrowing limit.
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What is the process of getting a mortgage as a first time buyer?Get a mortgage agreement in principle, find a property, complete a full application and await approval.
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What fees are involved in buying a house for the first time?Common fees include valuation, legal, and arrangement fees, plus stamp duty for properties over a certain value.
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How can I improve my chances of mortgage approval?Maintain a good credit score, save for a larger deposit and manage your debt.
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What is a mortgage in principle?It's an estimate from a lender of how much they might lend you, based on your financial situation and light credit checks.
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What is the difference between term life and whole life insurance?Term life covers a specific period; whole life covers your entire life.
See how much you could borrow for your first home
*mortgage calculator coming soon*
What our clients have to say
