First Mortgage "actively encourage" clients to use the Homestake mortgage scheme

First Mortgage, the UK’s specialists in sourcing mortgages, remortgages and protection plans, are actively encouraging clients to consider using the Homestake scheme when assessing their suitability for a mortgage.

First Mortgage, the UK’s specialists in sourcing mortgages, remortgages and protection plans, are actively encouraging clients in Scotland to consider using the Homestake scheme when assessing their suitability for a mortgage.

Homestake is a new scheme that is run by Communities Scotland, the City of Edinburgh Council and Glasgow City Council, and is aimed at helping people on low incomes get a foothold on the property ladder. Homestake offers first time buyer mortgages for those who cannot afford to pay the full price, but is also aimed at people whose life circumstances have changed - for instance, those suffering from marital breakdown who are in need of divorce mortgages. Under the scheme, a Homestake owner will pay for between 60 and 80 per cent of the price of a property, with the rest held by a registered social landlord who has been granted Homestake funding.

First Mortgage, a mortgage company that specialises in first-time buyer mortgages, as well as remortgages and mortgage protection plans, have been part of the Homestake scheme since the beginning.

 Ross Leckridge, a branch manager for First Mortgage, commented:

"Having been involved in Homestake related mortgage applications since the schemes inception in September 2005, we’ve accumulated a wealth of knowledge in this area. We have assisted over 100 clients with applying for their Homestake grant, and then provided them with the practical assistance needed to use this grant to purchase property in the Edinburgh area."

 Mr Leckridge added:

"The scheme has worked really well for first time buyers, especially single applicants unable to "pool" salaries to increase borrowing capacity, who were really struggling to get on to the bottom rung of the property ladder. Before, a salary of £15,000 and a £5,000 deposit could maybe allow a client to buy property at around £60,000, but now, with Homestake, the same client could buy at around £100,000 and still have the same level of monthly outgoing as before. "We actively encourage clients to consider using this scheme when assessing their suitability for a mortgage, and are more than happy to help them complete their application and collect together the supporting documents needed for their grant application to be properly assessed."

Homestake have recently acquired new funding from the Scottish Executive, and will continue to work within communities in Scotland in the future.

First Mortgage is a trading name of First Mortgage Direct Limited which is directly authorised and regulated by The Financial Services Authority. First Mortgage specialise in mortgages, remortgages and mortgage-related protection, by searching the whole of the UK market for the lowest APR, regardless of any existing bad credit, poor credit ratings, defaults, or even bankruptcy. The First Mortgage services are available online, via telephone and in person at various locations throughout the UK.

First Mortgage is a free UK mortgage search resource which endeavours to source the best mortgage, remortgage and mortgage protection deals from over 150 UK lenders. Mortgage services range from providing basic home-buying information for first-time buyers to full mortgage quotes and loan applications for established property owners.

First Mortgage announces 29 per cent rise in turnover

First Mortgage, the UK’s specialists in sourcing mortgages, remortgages and protection plans, have just announced a 29 per cent increase on the first six months turnover between 2005 and 2006.

First Mortgage, the UK’s specialists in sourcing mortgages, remortgages and payment protection plans, have just announced a 29 per cent increase on the first six months turnover between 2005 and 2006.

Out of the 29 per cent rise, around 14 per cent is attributable to an increase in both the volume and absolute value of the company’s mortgage procurement fees. The remaining 15 per cent resulted from corresponding sales of ancillary protection products, accident and term life insurance and non core service provisions to other parties.

First Mortgage specialises in providing mortgages, remortgages and mortgage protection plans, regardless of a customer’s financial background. By offering many different mortgage types, First Mortgage have established themselves as one of the leading providers of mortgage products by offering appropriate help to even those consumers with bad credit histories.

The success of First Mortgage can also be seen in its recently launched website, which aims to provide users with a range of information on First Mortgage’s products and services in order to guide users towards the best possible mortgage for their unique needs. So, whether a customer is looking for a selection of mortgage types or mortgage protection, First Mortgage is able to offer appropriate help to all consumers. Additionally, First Mortgage carry out business dealings with a chosen panel of surveyors and solicitors, in order to provide them with mortgage services and administration tracking.

Commenting on the increase in turnover, Don Neil, First Mortgage Financial Controller, stated: "First Mortgage is looking forward to 2007 with some optimism and is now beginning to enjoy the benefits of heavy investment and upgrade of our web based business, coupled with the launch of our Fresh Start Finance project aimed specifically at individuals with adverse credit issues"

From a general perspective the level of growth is forecasted to decline in the second half the year. However, this will be partly due to seasonal fluctuation and is not indicative of any decline in the underlying buoyancy of the Scottish market.

About Us:

First Mortgage is a trading name of First Mortgage Direct Limited which is directly authorised and regulated by The Financial Services Authority. First Mortgage specialise in mortgages, remortgages and mortgage-related protection, by searching the whole of the UK market for the lowest APR, regardless of any existing bad credit, poor credit ratings, defaults, or even bankruptcy. The First Mortgage services are available online, via telephone and in person at various locations throughout the UK.

First Mortgage is a free UK mortgage search resource which endeavours to source the best mortgage, remortgage and mortgage protection deals from over 150 UK lenders. Mortgage services range from providing basic home-buying information for first-time buyers to full mortgage quotes and loan applications for established property owners.

First Mortgage announce the launch of their new site, designed to make mortgages simple

First Mortgage launch their new site dedicated to sourcing the best deals in mortgages, remortgages and mortgage protection plans, from across the whole of the market

First Mortgage, the UK’s specialists for sourcing mortgages, remortgages and mortgage protection plans has just launched their new website which has been designed to make it easy to search through the UK financial market and provide users with access to the best deals available.

The new First Mortgage site will help users through the entire mortgage process - from selecting a suitable mortgage plan to learning about the various repayment methods.

First Mortgage understands the importance of investment and financial security, which is why the new site provides a comprehensive range of mortgage types, along with mortgage protection plans which are constantly sourced from across the entire UK financial market.

Created to provide a range of information, products and services, the site can help guide users such as first time buyers in their efforts to determine the right type of mortgage to suit their individual requirements, and ensure they obtain the best first time buyer mortgage for them. First Mortgage can help users decipher the many mortgage products that are available based upon their own circumstances and unique needs, enabling them to make a fully informed mortgage decision.

Covering the entire market, the new First Mortgage site provides information and product access for all types of currently available mortgages. For instance, anyone seeking a buy to let mortgage to purchase a second property with the intention of letting it out to tenants, can find information to help with the important decision making process. A buy to let mortgage can enable the purchaser to expand their property portfolio, take advantage of rising house prices and rental rates, as well as provide a sound investment for the future.

While there are various financial risks associated with this type of investment, the expected rewards may outweigh them, but the importance of making a fully informed decision cannot be overstated.

First Mortgage also specialises in remortgaging; a remortgage can help to cut monthly outgoings, save money and ultimately allow homeowners to take control of their finances. However, as people choose to take out a remortgage on their property for many different reasons, there are a wide range of remortgage deals available. The First Mortgage site enables users to source financial solutions from across the market to ensure they can obtain the best product for their personal needs.

First Mortgage caters to the needs of all those who are looking for a first or second mortgage loan, including those who have defaults, arrears, or even bankruptcy in their credit history. While many lenders are not prepared to loan money to people with a poor credit history, First Mortgage will endeavour to find the best mortgage or remortgage deal in order to help minimise the penalty for a bad credit history.

About First Mortgage:

First Mortgage is a trading name of First Mortgage Direct Limited which is directly authorised and regulated by The Financial Services Authority. First Mortgage specialise in mortgages, remortgages and mortgage-related protection, by searching the whole of the UK market for the lowest APR, regardless of any existing bad credit, poor credit ratings, defaults, or even bankruptcy. The First Mortgage services are available online, via telephone and in person at various locations throughout the UK.

First Mortgage is a free UK mortgage search resource which endeavours to source the best mortgage, remortgage and mortgage protection deals from over 150 UK lenders. Mortgage services range from providing basic home-buying information for first-time buyers to full mortgage quotes and loan applications for established property owners.

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