Here is a quick explanation of who needs income protection – and why they need it.Read more
Property price increases continue to out-pace salary rises for another year. So stepping onto the property ladder as a first-time buyer might appear a daunting prospect.
A Miller Financial offers expert advice to the first-time buyer from our office in central Truro.
Most first-time buyers will require a mortgage, and often at a higher percentage of LTV (loan to value). The LTV reflects the amount you want to borrow, too high and the mortgage might not be approved.
A lower LTV ratio minimises risk for both the lender and the applicant. But a ‘stretch’ is often required for first-time buyers to borrow the amount they need.
Furthermore, first-time buyers have to learn a whole new financial language, and this can be daunting. The team at A Miller Financial helps customers understand such features as ‘shared equity’ or ‘affordable.
And helping purchasers understand these terms means they better understand the conditions and terms of the mortgage.
A Miller Financial works across Cornwall and beyond to offer independent mortgage advice. Our independence means we are unbiased and able to offer the most professional service possible.
Our team identifies suitable mortgages from a large database. Your adviser will use their expertise to make final recommendations to you.
A first-time house purchase is the beginning of a long relationship. Many of our first-time buyers become long-term clients. They come to us for mortgage applications and return advice on income protection or life assurance.
A fixed rate mortgage means your mortgage repayments are protected from an increase in interest rates during the term of…Read more