🏠 First-Time Buyer Mortgages in Brentwood

Starting your home-buying journey around Brentwood — from period homes in Shenfield and Hutton to modern apartments near the station — is exciting, but getting the mortgage right matters. At Mortgage Broker Brentwood, we help first-time buyers understand deposits, lender criteria and the step-by-step process from Agreement in Principle through to completion, so you can move forward with confidence.

🌟 Why choose us for your first mortgage?

• 📍 Local knowledge: Experience across CM13–CM15 including Shenfield, Hutton, Pilgrims Hatch, Ingatestone and Warley — we understand typical property types and lender preferences in these postcodes.
• 📘 Clear guidance: We explain rates, fees and documents in plain English so decisions are simple.
• 🤝 End-to-end support: From AIP to offer, we anticipate lender questions and keep your application moving.
• ⚡ Fast updates: Proactive communication so you’re never left waiting.

📚 How first-time buyer mortgages work

Most lenders can go up to 90–95% loan-to-value (LTV) depending on deposit size, income and credit profile. Affordability is assessed by comparing your income with regular outgoings and stress-testing repayments at higher rates. You’ll typically choose a fixed rate (payment certainty) or a tracker/variable (can move with the base rate). Initial deals commonly run 2–5 years.

💰 Deposit options

• 💵 Saved deposit: Often 5–15% of the purchase price; bigger deposits unlock wider lender choice and lower rates.
• 🎁 Gifted deposit: Family support is common — lenders need a gift letter and standard ID/AML checks.
• 👨‍👩‍👧 Family-assist products: Some lenders allow family savings or security to support affordability.
• 🏗️ New-build incentives: If buying on a new development, we’ll check how incentives affect your effective deposit under lender policy.

🔍 What lenders consider

• 💼 Income: Salary, overtime, bonuses; for self-employed buyers, accounts/SA302s or contract income.
• 💳 Outgoings: Loans, cards, car finance, childcare, subscriptions and other commitments.
• 📈 Credit profile: Electoral roll, repayment history, utilisation and any adverse records.
• 🏢 Property factors: Lease length and charges on flats (e.g., near Brentwood or Shenfield stations), construction type, new-build warranties.

🧾 Costs to budget for

• 💰 Deposit – typically 5–15%+
• 📋 Valuation & survey – lender valuation plus optional HomeBuyer/Building Survey
• ⚖️ Conveyancing – searches, Land Registry and solicitors’ fees
• 🏦 Mortgage fees – product/arrangement fees (sometimes addable to the loan)
• 🚚 Move-in – removals, initial maintenance and furnishings

🪜 The step-by-step process

1. 📞 Discovery call: We confirm budget, deposit and timescales.
2. 📝 Agreement in Principle (AIP): Useful before making an offer; often a soft search.
3. 📂 Application: We package your documents to fit lender criteria and submit.
4. 🏗️ Valuation & underwriting: We handle queries quickly to maintain momentum.
5. 📜 Offer issued: Terms checked and we liaise with your solicitor through to exchange.
6. 🔑 Completion: You collect the keys — and we plan a review before the initial rate ends.

🏙️ Flats and new-builds around Brentwood & Shenfield

For apartments near the Elizabeth line stations, lenders often check lease terms (commonly 85+ years preferred), ground-rent clauses and service charges. New-builds can involve different deposit requirements and incentive rules. We confirm details up front so your application aligns with lender policy.

💼 Self-employed & variable income

Company directors, contractors and sole traders are common in the Brentwood area. Some lenders assess latest-year profits; others average 2–3 years or consider day-rate contracts. Presenting the figures correctly can increase borrowing potential and speed up approvals.

💸 How much can you borrow?

As a broad (non-advised) guide, many lenders cap borrowing around 4–5× income, subject to affordability, credit and the property. We’ll provide a tailored estimate after reviewing your documents.

📑 What to prepare

• 🪪 Photo ID and proof of address
• 🏦 Last 3 months’ bank statements
• 💼 Payslips (usually 3 months) or self-employed accounts/SA302s + Tax Year Overviews
• 💰 Evidence of deposit (savings statements / gifted-deposit letter)
• 📄 Credit report from a recognised UK agency

🚀 Next steps

Ready to get started? Call us on 01277 548 043 or send a quick enquiry online — we’ll outline your options and help you secure a suitable first-time buyer mortgage.

❓ First-Time Buyer FAQs (Brentwood)

💵 Can I buy with a 5% deposit in Brentwood?

Often yes, depending on income, credit and property specifics. Larger deposits usually unlock better rates and lender choice.

🏢 Are flats near the Elizabeth line harder to mortgage?

Lenders may scrutinise lease length, ground rent and service charges more closely on certain blocks. We’ll confirm the policy for your building before you apply.

🧾 How many years of accounts do I need if self-employed?

Many lenders look for 2–3 years, but some accept 1 year with strong supporting evidence. Packaging the case properly is key.

📊 Should I choose a 2- or 5-year fixed rate?

Two-year fixes can offer flexibility; five-year fixes provide longer payment certainty. The right option depends on your plans and budget.

⚖️ Do I need a local solicitor?

Not essential, but local firms can speed things up. Some lenders require panel solicitors regardless of location.