Jonathan Bamford - Protection Adviser

GREAT NEWS FROM HALIFAX FOR FIRST TIME BUYERS🏠

If you have savings of £5,000 you can apply for the £5k Deposit mortgage. This mortgage may then get you on the property ladder sooner as you could borrow more than 95% of the property value.
Is a £5k Deposit mortgage right for me?

Saving for a mortgage deposit can be difficult. With the £5k Deposit mortgage, if you have savings of £5,000 you can apply for the £5k deposit mortgage.
You may qualify if the following applies to you.
You are a first-time buyer with a deposit of at least £5,000.
You are aged 18 years or over.
The property you want to buy is worth between £102,000 and £300,000.
The property will be your only residence.
Subject to application.

https://www.halifax.co.uk/mortgages/first-time-buyers/5k-deposit-mortgage.html

Chapter 1: How Much Can You Borrow?

The first question most buyers have — and the answer might surprise you.
The income multiple rule
Most lenders will offer between 4 and 4.5 times your gross annual income. If you're buying with a
partner, both incomes typically count.

Annual Income At 4x and At 4.5x
£25,000 £100,000 £112,500
£35,000 £140,000 £157,500
£50,000 £200,000 £225,000
£60,000 (joint) £240,000 £270,000

These are rough guides — your actual borrowing limit depends on your outgoings, credit history,
and the specific lender. A broker can give you an accurate figure quickly.
Your deposit matters too -
The size of your deposit directly affects the interest rate you're offered. Here's a simple
breakdown:

• 5–9% deposit: You can get a mortgage, but rates will be higher
• 10% deposit: Significantly more deals available
• 15–20%+ deposit: Access to the best rates on the market

📌📌 Quick tip
Even a small improvement in your deposit percentage can save you thousands over the life
of your mortgage. It's worth waiting an extra few months if it moves you into a better
bracket.

Welcome — You're In the Right Place!

Over the next 5 nights we will be touching on the process of buying your first home

Buying your first home is one of the biggest decisions you'll ever make. It can feel overwhelming
— mortgages, deposits, solicitors, surveys — but it doesn't have to be.
This guide breaks it all down into plain English. By the time you've finished reading, you'll know:
• How much you could borrow
• What the full cost of buying really looks like
• The step-by-step process from application to keys
• The common mistakes that catch first-time buyers off guard
• Exactly when and how to get expert help
💡💡 A note before we start
Everyone's situation is different. This guide gives you a solid foundation, but a free 20-
minute call with a mortgage broker can give you a personalised picture in minutes — with
no obligation.

GREAT NEWS FROM THE MORTGAGE MARKET THIS WEEK!!🏠🌞

From today 12th May, both Nationwide and Virgin Money are cutting fixed rates:

👉Nationwide - reductions of up to 0.36% across First Time Buyer, Home Mover and Remortgage ranges.
👉Virgin Money - reductions of up to 0.26% on Remortgage products.

POSITIVE movement for clients at every stage of their property journey.

Rate windows don't stay open forever - keeping in touch with your financial adviser is important! 😎