Can’t Afford Your First Home? Think Again!

Can’t afford your own home to buy?

Getting on the property ladder is the primary goal of many under 35s (and some over that age too). It has become more common to rent for long periods of time before putting down routes. Whilst there are several reasons for this, what you really want to know is how you can obtain your first home.

It may seem like an impossible dream, but there are several schemes in places that can help you buy a home so we’ve summarised a few of the most popular below.

We also recommend booking an appointment with our dedicated mortgage advisers, who independently look at the whole of market to find a great deal that matches your circumstances. You can book a mortgage advice appointment here now.

Receive instant advice and see if you can actually afford your own home!

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So how can you afford your own home?

The first thing to do if you don’t think you can afford your own home is talk to a mortgage advisor. Our team are rarely not able to find a mortgage for someone, even if they have a low desposit or a number of debts.

Why not talk to someone today, for free? It only takes 5 minutes and we can respond via phone, email or in person. Appointments are free of charge and can be made at almost any time to suit you. You’ll be surprised at what you can potentially afford even in your current situation and you may be putting an offer in on a house in no time at all.

Be quick though! Mortgage interest rates are expected to rise soon and deals could change.

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Some of the below schemes may help you in affording to buy your first house. 

Help To Buy Scheme

  • Equity loan
  • You own a share of the property and can increase it over time
  • Pay rent on the part you don’t own
  • Own with a smaller deposit

Help to buy is an affordable home ownership scheme launched by the government. In a nutshell you will only own part of the property and pay rent on the rest. This scheme is most popular amongst those who can afford to pay a mortgage but can’t afford to save up a substantial deposit.

It enables you to buy a percentage of the property (for example 25%) which means you can buy with a much smaller deposit. For example on a £100,000 property this would mean a deposit of only £2500 for a 25% share. Whilst you pay into your mortgage you can set aside a little each month to save for a larger deposit, or you can increase your mortgage once you’ve paid some of it off.

You can eventually extend your share to 100%. It’s an excellent way to get on the property ladder if you’re struggling to save your hard earned money. And the best part is, although you’ll be paying rent on the part of the property you don’t own, you’ll still be building up equity in the part you do own.



Help To Buy ISA

  • Get up to £3000 towards your first home
  • For every £200 you save the government gives you £50
  • For first time buyers aged 16 and upwards
  • Couples can each have an HTB ISA
  • Used on property costing under £250,000 or £450,000 in London

The help to buy ISA was introduced in the UK last December. The aim of the scheme is to give first time buyers a helping hand towards getting a mortgage and rewarding you for your diligent saving at the same time.

You can open the account with a maximum deposit of £1000 and you may save up to £200 every month thereafter. You will be given a maximum of £3000 which means if you can save £12000 you will be eligible for the maximum bonus amount giving you a deposit of £15000.


Couples are treated separately so if you and your significant other choose to buy a house together you will both be eligible for the bonus and have double the money to put towards your mortgage.

5% Mortgages

  • Own your own home with a smaller deposit
  • Typically higher interest rates
  • Deposit of at least 5%

Whilst this isn’t technically a scheme, the availability of 5% mortgages has become more and more common over the last few years. Because many would be first time buyers rent, they have less disposable income to put towards a deposit.


The 5% mortgage makes owning a home more accessible than ever. There are some drawbacks with this method, you are likely to pay a higher interest rate because of your loan to value ratio; however it will afford you the opportunity to put money into your own home rather than spending it on rent.


You can then formulate a plan to save a further deposit and overtime you can pay off chunks of your mortgage and potentially reduce your interest rate.


Many first time buyers do this and accept a mortgage with the maximum term length and high interest rates. The reason for this is the monthly repayments become less and when they receive a pay rise or save up a large sum of money, they are then in a position to renegotiate their mortgage for a lower rate and a shorter term.

A very sensible move. Not all banks offer a 5% mortgage though and some may demand a guarantor so be sure to do your research.

Find out if you can actually afford your own home

Fill in your details for us to offer some free advice, no matter where you currently live or what your current financial status is.

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Visit our Financial Services page to book a phone or in-person appointment now, to see how much you can borrow on a house whatever your circumstances!


If you’re a first time buyer looking for a reasonably priced home in the Nottinghamshire area, why not have a browse at those on offer from Walton & Allen? Click here to find your dream property.

View our video blog with Paul, mortgage adviser in Nottingham.


We also have a first time buyers video guide for those who are looking to get on the property ladder. Watch here.

Independent Estate Agents Nottingham

Walton and Allen are one of the leading independent estate agents in Nottingham. We are also rated as one of the top 3 estate agents in the city by Three Best Rated. Here’s how we work for you.

Free Property Valuations

Need to know how much your house is worth? Our expert Senior Valuers are on hand to visit your property to value your property at the best possible price. Just get in touch to arrange a visit your home, at a time convenient to you.

You can call us to arrange a valuation on 0115 924 3304 or use the form below.

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Experienced sales team

Our sales team have over 50 years combined experience working in the Nottingham property industry. Once you instruct us they will will begin to market your property, book in viewings and negotiate offers. They will be in constant contact to ensure you receive expert advice, every step of the way.

You can reach them any time by calling our office or emailing salesteam@waltonandallen.co.uk.

Marketing your property

As estate agents we are always proactively looking to enhance property views for our clients.

Walton & Allen has a modern, digital approach to marketing. This is why we use window touch screens to showcase all of our stock. We also offer 360 virtual reality video tours. These are just some of the reasons why we are head and shoulders above our competition!

Best estate agents in Nottingham

Walton and Allen have been rated as one of the top 3 estate agents in Nottingham by Three Best Rated. We have been chosen for this award because of our value for money and excellent customer service.

About us

Walton and Allen are estate and letting agents in Nottingham. We provide property sales, lettings, property management and mortgage advice.

Walton and Allen Property Management collects rental payments and manages maintenance for our Landlord clients. Our block management division also maintains blocks of flats and residential estates.

Biggest house price increase in 2 years

In recent reports, The BBC, The Halifax and The Guardian are reporting the biggest jump in house prices in April 2019 for the last 2 years.

The Halifax, part of Lloyds Banking Group, the biggest mortgage lender in the country, reported: Prices have risen 5 per cent in the three months to April, compared with the same point last year. This is the fastest annual growth rate since February 2017.

In the three months to March 2019 prices were only growing at 2.6 per cent.

So what is the reason for the increase?

Some say that Brexit has negatively affected house prices. Others say that as the London housing market has stalled, the rest of the country has benefited. 

The reality is there is still a shortfall of around 2.5 million houses across the UK. Demand remains high for both property ownership and buy to let investment.

Mortgages are still readily available with interest rates continuing at an all time low.

Average house prices increased

The Halifax also reported that average house prices hit a low of £154,663 during the 2009 financial crash. Since then, average prices have increased by £81,956. A whopping 53 per cent!

Signs of a healthy housing market

Although the current political client is still uncertain, the housing market remains strong and healthy. If anything, these figures show that buyers and sellers remain defiant and wish to continue as usual with moving home.

Nottingham housing market

Nottingham house prices are continuing to grow month on month. The city has seen a house price increase every month for a number of years. Nottingham has been in the top 3 cities across the whole of the UK for price growth throughout almost all of 2019.

You can read more about this in our latest blog post.

How much is your house worth?

If you are looking and moving home then take advantage of this large price rise. Find out how much your house is worth for free by using the form below or calling 0115 924 3304.

We operate a no sale, no fee policy. If you instruct us to market your home you will not pay a penny until you sell.

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When is the best time to sell your house?

Thinking of moving home? We reveal when is the best time to sell your house.

The best time to sell your house

According to the Home Owners Alliance, the best time to sell your house is actually Spring.

Spring in the UK is define as March, April and May. So why is this the best time to sell?

The reasons for selling your house in spring

It is thought that the main reason for selling in Spring is because Christmas is out of the way completely. Home owners tend to have more disposable income by this point and nothing major in their diaries for the coming weeks.

The second reason for selling in Spring is that most people are not yet on their summer holidays. There tends to be a slight slowdown when people are preparing to go away, especially with buyer enquiries. This is generally because they are thinking more about the beach than they are about a new home!

Spring is also a great time to sell because your property looks great. Gardens are beginning to bloom and photographs look good in the bright sunlight. The fact the sun is out for longer also helps when viewings are taking place – Viewing a property in the dark can make it feel less appealing.

Make hay whilst the sun shines!

The internet has smoothed out the annual peaks and troughs of the housing market. The only slow month tends to be December when people’s minds are on the festive period. Therefore, now the sun is shining, there is no better time to sell.

Selling your home in spring 2019

Some buyers and sellers have been holding off during the first part of 2019 due to political uncertainty.

It is now clear that Brexit has had very little effect on the Nottingham housing market, with people giving up on waiting for a resolution.

Although there has been a lot of negative press on the housing market, there is little or no evidence to suggest that leaving the EU will have a negative effect on the housing market.

Nottingham house prices are continuing to grow month on month. Why delay?!

Considering selling this spring?

Find out how much your house is worth for free. You can do so by filling in the form below or calling our Senior Valuers on 0115 924 3304. We operate a no sale, no fee service so you will not pay a penny until the property is sold.

Walton & Allen are estate agents in Nottingham, providing property sales, lettings, mortgage advice and property management.

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Nottingham Property Prices Spring 2019

Our latest property price report is here and Nottingham still sits top for property price growth across the country.

Nottingham property price growth

Following the latest report from Hometrack, Nottingham is once again third for property price growth across the whole of the UK.

Property prices in the city are up 1.4% in the last three months, making the average Nottingham property price £153,700. In addition, property prices were up 0.6% in the last month alone in Nottingham.

This puts us in joint third for price growth, along with Manchester and Sheffield.

Above Nottingham was Newcastle with 1.8% growth over the last three months and top was Liverpool with 2.4% growth.

If you bought a home three months ago at £200,000, it could now be worth £2,800 more already!

The UK property market as a whole

The UK property market is looking positive, despite the current political climate. More sellers are bringing their property to market than this time last year according to Rightmove.

This is closing the gap between huge buyer demand and a shortage of available properties which we reported on a few months ago.

Mortgage deals

Many people are taking advantage of the great mortgage deals on offer as interest rates have generally remained the same.

Money saving expert Martin Lewis has reported on some of the best 5 year fixed rate mortgage deals since March 2018.

Lenders are now offering deals with interest rates below 2%. If rates go up after Brexit this could be a great result for home owners who have switched to these deals.

As always, mortgage deals are different for everyone so please check with a qualified mortgage broker before you switch. You can talk to our recommended broker free of charge by calling 0115 924 3304.

How much is your property worth?

What is your property now worth since prices have risen? Find out by calling us on 0115 924 3304 or using the form below.

With the large influx in buyers now may be a good time to sell.

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Nottingham House Prices Spring 2019

We release our latest report on Nottingham house prices, spring 2019.

Nottingham house prices continue to grow.

Over the last three months Nottingham house prices have steadily increased by 0.3%. This means that in the last 12 months the city has seen growth of 4.4%.

The East Midlands as a whole has also seen good growth. Prices have increased 0.6% since last month and the region is still one of the quickest throughout the whole of England when it comes to agreeing a sale.

Rightmove state that average agreed sale time is 65 days, only beaten by the West Midlands at 61 days.

Is Brexit affecting the housing market?

It appears that Brexit is now having little to no effect on the housing market. House prices are still growing and housing transactions are still strong.

Transactions are always a good indicator for how the market is holding up and HomeTrack and Zoopla report that there is no obvious impact across the country. Transaction volumes over the last year have remained in line with the 5 year average.

Phil Spencer’s take on Brexit

Television personality and property expert Phil Spencer has also had his say. In an exclusive interview with the Daily Express, Phil explains that there will now probably be no change at all in the housing market, whatever the outcome of Brexit. Phil goes on to explain “I think Brexit’s already had its effect to be honest”.

To conclude

The housing market in Nottingham continues to outperform most of the country, making it ideal for investors and home movers. Prices are still affordable for first time buyers and mortgages are readily available.

The time it takes to agree a sale and move in to a new property is also very positive.

Time to look at selling your property?

Find out today how much your property is worth and see how we can help you sell. Call us on 0115 924 3304 or use the form below.

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5% deposit mortgage rates falling for first time buyers

If you’re a first time buyer looking for a 5% deposit mortgage then you’re in luck. Rates have fallen dramatically for low deposit mortgages according to What Mortgage.

Research by moneyfacts.co.uk shows that rates on a 5% deposit mortgage are currently at 3.30%. This is compared to rates of 4.19% which were recorded in October 2017.

How will this 5% deposit mortgage rate help first time buyers?

These days most first time buyers struggle to save a large deposit. This is why the 5% deposit mortgage is so popular.

Previously, those looking to get a mortgage with a low deposit where subject to higher interest rates. This means that the monthly repayments were usually higher.

Now that rates are falling this should mean that mortgage repayments for first time buyers are a little lower.

5% deposit affordability is still strict

Whilst this is good news for those looking to get a mortgage with a low deposit, What Mortgage reports that affordability is still strict. First time buyers will still have to jump through several hoops to ensure they can afford a mortgage.

The best advice would be to speak to a mortgage broker to find out if you could be eligible to get a 5% deposit mortgage with a low rate. You can talk to our recommended mortgage broker free of charge by calling 0115 924 3304 or use the form below. He will be able to advise you either over the phone or during an appointment in person.

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

Mortgage Advisor Hucknall, Nottingham

Walton & Allen mortgage advisor Hucknall

Are you looking for a mortgage advisor in Hucknall, Nottingham? If you’re looking to get a mortgage on your first property, or if you are looking for a new mortgage deal, we can help you.

Walton & Allen offer free initial mortgage advice to compare the whole of the mortgage market. This means our recommended mortgage brokers can look at almost every deal available to you, based on your own financial circumstances.

You can contact our recommended mortgage broker by calling 0115 924 3304 or by using the form at the bottom of this page. They would be happy to chat to you over the phone or in person.

What will happen when you speak to our mortgage advisor in Hucknall?

So, what can you expect when you speak to our mortgage advisor in Hucknall?

Firstly, they will speak to you either over the phone or in person during a mortgage appointment. They will be able to tell you how much you could potentially borrow. To do so they will need to ask questions such as how much you earn every year and if you have any credit cards or loans. They will also likely check your credit score.

Once a great mortgage deal has been found for you, the mortgage broker will ask that particular lender for an agreement in principle. If you are approved, they are likely to approve you for a mortgage.

Our recommended mortgage broker will help you every step of the way with the application process. You’ll never feel on your own and you’ll be looked after right up until completion of your property purchase.

What do you need to provide our recommended mortgage advisor?

When you speak to the mortgage advisor it would be a good idea if you can bring at least three payslips if you are employed. If you are self employed it would be useful if you could provide two years accounts. These will be needed when the mortgage application is submitted but are not completely necessary during the first mortgage advice appointment. Access to bank statements is also key in helping the lender to look at all your monthly outgoings.

Talk to our mortgage advisor today

Based on this advice, are you ready to talk to our recommended mortgage advisor, Hucknall? You can call us today on 0115 924 3304 or use the form below.

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Mortgage and Protection advice is provided through our association with Premier Mortgage Services (Nottingham) Ltd. They have decades of combined experience working to find some of the best mortgage deals available to you.

 

Buy a house without a deposit

You can now buy a house without a deposit if you’re a first time buyer

Have you been struggling to save a deposit for a house? Do you feel like you will never be able to afford to buy your own home?

Thanks to the Post Office, you can now apply for a mortgage with zero deposit – Yes, you did read that correctly! So if you’re a first time buyer looking to step onto the property ladder then this could definitely be for you.

Will you be accepted for this mortgage?

This mortgage isn’t available for everyone. Firstly, you will need to ensure your parents house is currently mortgage free. You will also be assessed on your affordability. To do this a mortgage broker would take into account your yearly income, plus monthly expenditure and any loans or outstanding credit card balances.

How will this mortgage work?

This is a 90% loan to value mortgage. The 10% which would usually be your deposit will instead become an interest-free 5 year loan. Your parents home will secure the loan.

You as the buyer will then make two separate payments every month – one towards the mortgage and the other towards the loan.

How much will monthly repayments be?

These figures are approximate but to give you an idea:

If you are looking at a first time buy at £150,000 then you will be taking out a £135,000 mortgage and an interest-free 5 year loan of £15,000. On a standard 25 year term, and with an interest rate of 4.98% you will be paying approximately:

£787.00 per month for the mortgage
£249.00 for the loan
A total per month of £1036.00.

Of course, you’ll have to prove that you can afford this £1036.00 per month. You can find out if the Post Office will lend you this much money by talking to an independent mortgage broker. Our service is free to just have a chat, so why not talk to us now? Visit our mortgage advice page to book a phone or face to face chat.

What’s the catch?

Well, if you don’t pay your mortgage then your own home and your parents home will be put at risk. We would always suggest getting professional advice before applying for a deal such as this.

The other disadvantage is that the interest rate for the mortgage is pretty high at 4.98%. This is expected if you wish to buy a house without a deposit at all. The deal is fee-free, however.

Interested in this mortgage?

Talk to us today to find out if this deal could be right for you. Fill in the form below, or call 0115 9243304.

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Online Mortgage Broker

Online Mortgage Broker

Are you looking for an online mortgage broker who can give mortgage advice online? Walton & Allen have an online mortgage broker service where we can find you a mortgage deal without you leaving your home.

Our mortgage brokers compare the whole of the mortgage market to help find one of the best deals for you, based on your personal financial circumstances.

Unlike some brokers or banks, we can look at almost every deal available and are not affiliate with any particular lender. This means we could potentially save you money over your mortgage term.

Booking an online mortgage appointment

Use this form below to book an online mortgage broker appointment. We will get in touch via phone or email to book a Skype chat with you, at your convenience. We have over 25 years of experience in the mortgage and financial services sector.

Compare mortgages with our team as soon as today!

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

What do we offer as an online mortgage broker?

We offer an initial free mortgage advice appointment, even over the phone or over Skype. During this time we will ask you several questions to analyse your financial situation. We can then find one of the best mortgage deals for you, based on this information.

During your chat with the online mortgage broker you will find out:

  • Which lenders will approve a mortgage based upon your personal financial circumstances
  • How much you could borrow from a mortgage lender
  • Which mortgage lenders have the best interest rates based on your income
  • How you can gain approval for a mortgage if you have any debts, CCJs or loans
  • How much your monthly repayments would be on a mortgage deal
  • And much more!

Mortgage Broker in Nottingham

If you would prefer to speak to a mortgage broker in person, please visit our offices at our estate agents in Nottingham.

Mortgage and Protection advice is provided through our association with Premier Mortgage Services (Nottingham) Ltd. By submitting your details through this mortgage calculator you accept that we will pass your information to them. Your details will never be shared with anyone else without your permission.

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