If you are tired of renting and just started thinking to buy your dream home this is the best time for you to make a move. 2025 can be the best year for first time buyers. The market has shifted, mortgage rates have dropped, and there are more opportunities than ever to get onto the property ladder.
Here is why this is your time to be on property ladder:
1. Mortgage Rates Have Dropped – It’s Time to Act!
In recent weeks, we’ve seen a significant shift in the UK mortgage market. After months of high rates, many lenders have reduced their mortgage rates, following the Bank of England’s base rate decisions. As a result, we’re seeing some mortgage deals dip below 4%, offering you an opportunity to secure a better deal for your first home.
Just for an example, one of big mortgage Lenders, Santander recently cut its fixed-rate mortgages to 3.99% for two years and five years fixed rate mortgages. Specifically for those have at least a 40% deposit. This change alone could save you thousands of pounds over the life of your mortgage. For first time buyers securing a mortgage and save on monthly payments become more achievable with a stable interest rates.
Just Last week, one of David’s clients borrow up to £30,000 by remortgage for home improvement and David helped them achieve 3.99% rate.
Do you want to see how remortgaging can help you save more ? See the link here.
2. Government Schemes – Get More for Less
The government hasn’t forgotten about first-time buyers. There are still numerous schemes in place to reduce your upfront costs, making the dream of owning your home more attainable than ever.
- First Homes Scheme: Save up to 30% on new build homes. This is a fantastic way to get a head start on your homeownership journey and ensure you’re getting a great deal.
- Stamp Duty Relief: First-time buyers benefit from Stamp Duty exemptions. This means you not going to spend more money while buying your first home.
Do you know how to calculate stamp duty? Simply click here, put the value of the property you plan to buy and see how much you need to pay.
These incentives combined with reduced mortgage rates make 2025 the perfect time to act before any further changes occur.
3. Rising Rents – Own Instead of Renting
Rents have been climbing across the UK, particularly in London and the surrounding areas. The latest statistics show that average rents in London have risen by 4.7% over the past year. At this rate, renting is becoming increasingly unaffordable, and buying a property could be a smarter financial decision in the long run.
By securing a mortgage now, you could lock in predictable payments and stop throwing money away on rent. Instead, you’ll be building equity in a property you own, setting you up for future financial success.
One of our client was paying upto £2000 a month on renting 2 bedroom house in London. We helped them to buy their first home in Carshalton and now as first time buyers they are paying less then £1500 on their mortgage payments.
Act Quickly – Properties Are Selling Fast
4. Act Quickly – Properties Are Selling Fast
With the market shifting and mortgage rates falling, the best properties are being snapped up fast. If you wait too long, you could miss out on your dream home. To avoid disappointment, make sure you’re prepared to move quickly when you find the right property.
It’s crucial to get pre-approved for a mortgage so that you’re ready to make an offer as soon as you find a home you love. This is where Gordon Blair Mortgage Advisors can help – our team can secure you the best mortgage deal and guide you through the whole process, ensuring you’re in the best position to make an offer without delays.
If you already own a property, your property price might gone up. It’s the best time to look for remortgage or equity release mortgages. See here how.
How Gordon Blair Mortgage Advisors Can Help You
At Gordon Blair Mortgage Advisors, we specialise in working with first-time buyers. Our expert team will walk you through every step of the home-buying process, from securing your mortgage to finding the best deals and making an offer on the property you want.
Here’s how we’ll help you take advantage of this opportunity:
- Free Consultation: Book a free consultation with us to discuss your options and find the best mortgage for your situation.
- Mortgage Agreement in Principle (AIP): We’ll help you get an AIP, which gives you a clear understanding of how much you can borrow and shows sellers you’re a serious buyer.
- Access to Exclusive Deals: With our network of lenders, you’ll have access to mortgage rates that aren’t available to the general public.
- Expert Guidance Throughout: From application to completion, we’ll be there to ensure everything runs smoothly.
FAQs: What You Need to Know About Buying Your First Home
Typically, first-time buyers need a deposit of 5-10% of the property’s value. The more you can save, the better the mortgage rates you’ll get. Some government schemes may reduce the deposit needed, so speak with us to explore your options.
Most lenders require three months’ worth of payslips to verify your income. If you’re self-employed, you may need to provide tax returns or financial statements for the last two years.
Yes, it’s absolutely possible. You’ll need to provide additional documentation, like tax returns and business accounts, but with the right advice, you can secure a mortgage.
Yes, you can buy a home with your partner. Lenders will assess both your incomes, which could increase your borrowing potential. We can help you determine the best way to approach this.
The market is shifting, and 2025 is the year to take action. With lower mortgage rates, government schemes, and a growing rental market, now is the time to buy your first home.
Book your FREE consultation with Gordon Blair Mortgage Advisors today, and let us help you find the perfect mortgage deal and make your homeownership dreams a reality.
