Tips For First-time Buyers in Peterborough

Buying a house is a big decision for first-time buyers in Peterborough, or anywhere else for that matter.

Get Advice from a Mortgage Broker

Unless you get the correct mortgage advice, things can get confusing, stressful and time consuming for you. It can become even more stressful later if you have acted without the sorts of full information that an adviser would provide.

At The Mortgage Bureau, our mortgage advisers will help remove the confusion, save you time and provide the correct first-time buyer mortgage advice.

Being an independent mortgage broker here in Peterborough, we are not tied to any lender or estate agent. When we have a full understanding of your current situation this allows us to match you with the most suitable lender.

Because we want to help our customers make the right decision as first-time buyers in Peterborough, here are some tips you should consider:

• Responsibility: All lenders will check your financial situation so you should be in a position to show that you are responsible. For example, pay off your credit card bills and other debts on time to show that you can be responsible for the mortgage payments. That way you build up a healthy credit history that shows that you can be trusted.
• Save Hard & Boost Your Savings: As a first-time buyer, you should be prepared for the deposit and the mortgage repayments. Work out how much cash you are left with at the end of each month. Instead of keeping it in your current account, it should go straight into a savings account. That way you will not be tempted to spend it. Similarly, you should look for ways to boost your monthly savings. Cut down on any expense that isn’t benefitting you or your family. The bigger deposit you have, the better choice of mortgage deals you will have.
• Choose Your Mortgage Wisely: While our experts will help you get the right mortgage deal, you should still choose it wisely. The most important factor to consider is the overall cost of the deal, not just the interest rate. Don’t get tricked with a low rate deal, as it may come with fees and other charges payable at a later date. We will point these out to you.
• Compromise: Sometimes things don’t turn out the way we expect. It could be the location of your new property, or its size or its condition. Being able to compromise on any of these things could make the world of a difference for you, especially when it comes to buying your first home.

About Peterborough

Peterborough sits just off the A1, so it’s very accessible from all major cities by car. Once you arrive you’ll find the city remarkably easy to navigate.

Rail: Easy access to London (50 minutes), Newcastle, Edinburgh and also to Liverpool, Manchester, Birmingham, Nottingham, Leicester, Derby, Lincoln, Norwich, Ipswich and Cambridge. The railway station is an important stop on the East Coast Main Line between London and Edinburgh.

Bus: You can get travel advice and National Express tickets, plus tickets for day trips at the Visitor Information Centre on Bridge Street, Peterborough. Free bus timetables and various leaflets on places of interest are available, and you can also get concessionary bus passes.

Air: Stansted Airport is just over an hour away by car and is on a direct train line from Peterborough. Luton airport is approximately 75 minutes by car.

The Mortgage Bureau, Stuart House East Wing, St Johns Street, Peterborough, PE1 5DD | Telephone 01733 358488 | Website | Facebook