Your Home may be repossessed if you do not keep up repayments on your mortgage
Ready to buy your first home?
It’s a big financial decision however doesn’t have to be a complicated one
Here at getMortgage we do all we can to make the whole process for first time buyers as easy and stress-free as possible.
Agreement in Principle
With an Agreement in Principle (AIP) you can take the first step to buying or remortgaging your home. An AIP will give you an idea of how much you could borrow before you apply for a mortgage.
Why get an Agreement in Principle?
As well as letting you know how much you could borrow, you’ll also get an idea of how much you can afford to spend on your new home. That means you can start looking at properties in your price range.
It can also help you to agree a better price with the seller, because it shows you’re a serious buyer who can get a mortgage.
- It only takes about 15 minutes to complete, and we’ll give you decision straight away
- We’ll ask some questions about you and anyone else who’s applying, including details about your income and spending.
- We’ll only do a soft credit check which won’t affect your credit score.
Where to start? What to save?
Homebuying is a long process, and it starts well before you think. We can help you improve your knowledge and build your deposit while still renting.
We’re here to help you understand:
- How to save effectively for your deposit.
- The ins and outs of mortgage deposits.
- Options for gifted deposits.
- The total costs associated with buying your first home.
- How mortgages actually work.
- What determines your eligibility for a mortgage.
LIFT (Low-cost Initiative for First-Time Buyers)
LIFT helps people who want to buy a home on the open market but can’t afford the full price. LIFT provides eligible applicants with funding between 10 and 40% toward the purchase price of a property which has been advertised on the open market. With the scheme, applicants fund the majority share of the purchase of their property and own the property outright. The Scottish Government will hold the remaining share of the property under a shared equity agreement. In most areas you can increase your share up to 100% in the future.
The Scheme has Temporarily Closed – Due to demand, the LIFT Open Market Shared Equity Scheme budget is fully committed, and applications are now closed. The scheme will not be taking any new applications until a decision has been made on budgets for 2024/25.