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First Time Buyers

When you are purchasing your first home there are a great many things that you need to consider.   The most important thing of course is finding the right property and agreeing a price with the estate agent or vendor.  There are many good estate agents on the Island and they will be able to assist you through that process.

Once you have found a property the next thing is to arrange the mortgage.  In some cases we can arrange a Mortgage In Principle before you make an offer on the property which will often put you in a stronger negotiating position.  Alternatively if you have had an offer accepted it is crucial to get a mortgage application submitted and approved as soon as possible.

At Financial Options we have access to all of the residential lenders on the Isle of Man and can advise you on all of their rates and first time buyer packages.  We will guide you through the whole application process from deciding which lender best fits your circumstances, completing the application form, selecting what type of interest rate is most suitable and liaising with the mortgage company to ensure the proposal is approved as quickly as possible.

After your mortgage is approved we then continue to monitor the application through the valuation of the property and the issue of the mortgage documents, the point at which your advocate can arrange for the completion of the purchase.

Of course it is not just about finding the right mortgage lender and the right interest rate but also making sure you have arranged adequate insurance for both yourselves and your property.   We can offer quotations on the full range of insurances that you will need.

You need to find an advocate that will guide you through the legal process and we can recommend those that we know will be both cost effective and will also offer excellent service.

We can basically guide you through the whole mortgage and house buying process from the initial offer stage right up to completion....the only thing we don't do is help you move in!

In July 2014 the Government brought in a new First Time Buyer scheme and more detailed information about this scheme will appear here soon. In the meantime if you would like any further information on this please give us a call on  01624 612611.

For a complete mortgage service from start to finish please complete our mortgage enquiry form, call Paul on 01624 612611 or e-mail [email protected] for more information.


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