Case Study - First Time Buyers

Our Client’s Challenge

Laura and Max were in their late 20s and had been renting for 5 years. They wanted to purchase their own property before they settled down to have children.

They had a £15,000 deposit, which was from savings and a gift from their parents. Between them they earned £42,000. Their salary and deposit made it difficult to find a suitable house.

Our Advice

Our Adviser explored Laura and Max’s circumstances, what they would be comfortable paying per month and what mortgage would be most suitable for them.

They explored all the different schemes available to them such as shared ownership and Help To Buy. Our Adviser worked out what their maximum affordability would be using these different schemes and sent Laura and Max out house hunting with their maximum house price budgets.

The Outcome

Laura and Max came back having found a two bedroom new build property that they loved.

With the use of the Help to Buy scheme and using the 5% deposit they had available, our Adviser supported them in securing this property.

Laura and Max moved into their new property, paying £210 less than they were in rental. They were fixed in for 5 years on a 1.64 rate and are moving onto the next stages of their adventure together in their new home.