First-Time Buyer Mortgages

At Domus Mortgages, we support first-time buyers by clearly explaining the process from start to finish, including deposit requirements and the different types of mortgages available. Taking your first step onto the property ladder can feel daunting, particularly with the wide range of mortgage products and eligibility criteria available but with our guide and support you, as a first-time buyer you will feel confident that you are making the right choice.

We will explore all the  options across the market, considering:

• Competitive interest rates and repayment options

• Low-deposit mortgages (including 95% LTV, where available)

• Designated Schemes to support first-time buyers

At Domus Mortgages, we guide you to understand additional costs such as legal fees, stamp duty (where applicable), and insurance, enabling you to make informed and confident decisions about your first home.

Risk Warning: Failure to maintain regular mortgage repayments may result in the repossession of your home.

Home Mover Mortgages

If you are purchasing or relocating to a new home, it may be possible to port your current mortgage or secure a new arrangement. Domus Mortgages is equipped to provide a thorough explanation of both options and evaluate which solution best suits your needs.

We review with you:

·       The feasibility of porting your existing mortgage

·       Affordability assessments for your prospective property

·       Any early repayment charges associated with your present mortgage

·       Potential benefits of switching lenders, including improved terms

Our professional advice enables you to compare all available options objectively and minimize unnecessary expenses, allowing you to concentrate on your move with confidence.

Risk Warning: Failure to maintain regular mortgage repayments may result in the repossession of your home.

Remortgaging

(Including Product Transfers and Rate Switching)

Remortgaging gives you the opportunity to have lower monthly payments, access equity, or find a mortgage that better fits your requirements. At Domus Mortgages, we provide clear and impartial guidance about your available choices.

A product transfer is when you move from one mortgage product to another with the same lender, for example:

• Switching from a fixed rate that is ending to a new fixed or tracker rate

• Moving to a new deal without changing lender

Rate switching is often used interchangeably with product transfer. It simply means changing to a new interest rate or mortgage deal with your existing lender.

Examples include:

• Switching to a lower rate when your deal ends

• Changing from a tracker to a fixed rate

• Locking into a new deal to avoid your lender’s standard variable rate (SVR)

People often remortgage for reasons such as:

·       Avoiding costly standard variable rates when a fixed or tracker deal expires

·       Releasing equity for renovations or other needs

·       Securing a mortgage with features that better suit their circumstances

We review offers throughout the market, and also check whether staying with your current lender via a product transfer or rate switch might be the best solution.

Risk Warning: Before securing other debts against your property, we recommend a a further credit analysis. Failure to maintain regular mortgage repayments may result in the repossession of your home

Shared Ownership

Shared ownership lets you purchase part f a property and pay rent for the portion you don’t own. It offers an accessible path to eventually owning your home outright.

We offer guidance on:

– Eligibility and affordability criteria

– Minimum deposit requirements and lender rules

– Mortgage options for shared ownership

– How to increase your share (known as “staircasing”)

Domus Mortgages will help you understand both the advantages and drawbacks of shared ownership, so you can decide whether it suits your needs.

Risk Warning: Failure to maintain regular mortgage repayments may result in the repossession of your home.

Help to Buy / Affordable Housing Schemes

You could be eligible to take advantages of government and local programs to help you buy a home.

Domus Mortgages explains available options and eligibility.

We will guide you on the following:

– Equity loan schemes (if offered)

– The First Homes initiative

– Local association or council-led schemes

– Deposit and lending requirements

Each scheme has specific rules, which we clarify before you apply.

Risk Warning: Failure to maintain regular mortgage repayments may result in the repossession of your home.

New Build Mortgages

Buying a new build property often means meeting specific requirements, like stricter mortgage deadlines and navigating developer incentives. Domus Mortgages helps you secure the right mortgage by assessing lender policies, offer expiry rules, available government schemes, and how incentives affect affordability. We guide you through these steps to ensure a smooth purchase.

Is a Survey needed?

Most lenders will perform a valuation, which might be:

·       Automated (AVM): free and without a physical inspection

·       Physical valuation: sometimes complimentary, sometimes with a fee depending on your product

Generally, formal surveys aren’t required unless you wish to have one for your own reassurance.

Do I Need a Solicitor?

Yes, legal assistance is necessary when transferring your mortgage from one lender to another. You can either use:

·       The lender’s free legal service (if provided), or

·       Your own solicitor (often chosen for better service; many lenders offer cashback to cover some of these costs)

Broker Fees: Working with a broker helps you find the best deal, avoid unexpected charges, and compare rates accurately. Our service simplifies the process, handling everything from sourcing and negotiating to management, so you can feel confident about your financial choices.

Is Remortgaging Worth It?

Remortgaging is often worthwhile, but what matters most is overall value rather than just low headline rates. We consider:

·       Rates compared to fees

·       Early repayment charges

·       Remaining term on your mortgage

·       Your equity position

·       Future plans (like moving, additional borrowing, or making overpayments)

We’ll discuss all possible options to help you determine the best time and structure for your needs.

We charge a broker fee of £299, payable on application.