In this section: Mortgage Guides Tools & Calculators Compare Mortgages Apply for a Mortgage Insurance
First time buyers
Let's be honest, buying a home for the first time can be stressful, particularly for your wallet. We've tried to make things a little bit easier for you by taking you through the whole process step by step, after all setting up your first home is exciting.
As this is all totally new for you, we thought the best place to start would be to clearly explain each step you'll go through when buying your house and setting up your mortgage. In the spirit of keeping things nice and simple we've kept everything you need to know right here, so feel free to have a browse and take it all in at your leisure.
Read on to understand the steps you'll go through from learning about the process to completing your mortgage application. It’s a big page, but then again buying a home is a big deal, so you'll have to scroll down to take it all in.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Learn about the home
buying process
This section will hopefully make things a little clearer.
Before you apply for a mortgage it's a good idea to understand how mortgages work and the options available to you. There are a couple of other costs you'll need to factor in such as valuation fees and legal costs, but don't worry our mortgage guides cover those as well. And if that's not enough, we've gone all out and produced a first time buyer video guide which will talk you through the 10 steps of the process.
We've put together some guides that break everything up into bite sized chunks so you can be confident you've got everything covered. They're printer friendly so if you want to take them away to read you can.
Don't forget, anytime you want to chat just give us a call on 0800 0285 277*
Work out your finances
Let someone else do the maths...us, that is.
Now that you're practically an expert in the home-buying process (if you're not then please move back a step), you'll probably want to apply this to yourself to see what you can afford. To help, we've created some great tools to work out how much you can afford to pay on a mortgage and what we may be able to lend you based on your circumstances. Once you're comfortable with what you can afford, (remember to factor in the other costs we told you about in the 'Fees and costs' guide) you can have a look at the mortgages we have on offer at Northern Rock that could be suitable for you.
Find and compare mortgages
Now it's decision time!
You should now be ready to see the great deals we've got on offer at Northern Rock. Our mortgage finder will show you the mortgages we currently have that could work for you, including how much your monthly payment would be.
You might want to go away and have a good think about the options available to you, so don't forget to save them as you go, then you can return to them later (but remember, these are the deals you can get today and they could change at a later date).
Repayment calculator
Get a quote and apply
Mastered mortgages, sums done, deal chosen – all that's left is to make it official.
Once you've decided on the mortgage you want, the next step is to get a Decision in Principle (DIP), also referred to as a mortgage certificate. A DIP? will involve running a credit check? on you and will provide you with a decision, in principle, as to whether we will lend to you, and if so the amount. You can use it when making an offer on a property to prove you are able to buy it.
Once you've got your decision in principle you can go ahead and apply for your mortgage with us. This may be at the same time as getting your decision in principle, or it may be a little later depending on your circumstances. How you get your DIP and apply is entirely up to you, you can do it over the phone right now if you're ready, or if you'd prefer, you can pop into your local branch and see one of our mortgage specialists.
Ready to get your quote or apply?
Just call one of our mortgage specialists on:
0800 0285 277*
OR
Protect your home
By the time you get to this stage everything should be well on its way, with only one final piece to complete – arranging your insurance. It goes without saying that it's vital to have all the relevant insurances in place to protect your home; it's probably going to be your biggest asset after all.
Working with our trusted partners we offer a range of insurance deals including buildings and contents, home emergency cover and life insurance. Take a look at our insurance section for further details.
Your home may be repossessed if you do not keep up repayments on your mortgage.
* We're all based in the UK and happy to help when you're ready (providing you call us between 8am - 8pm Monday to Friday, 10am – 3pm Saturday or 10am – 2pm Sunday, otherwise we're closed). Calls may be monitored and recorded.