🏡 5 Mistakes First-Time Buyers Make (And How to Avoid Them)

Advice from Your Local Suffolk & Essex Mortgage Experts

Buying your first home is a huge milestone—but it can also be confusing, especially without the right guidance. At Keyholder Mortgages, based right here on the Suffolk–Essex border, we specialise in helping first-time buyers get the keys to their first home smoothly and affordably.

Here are the 5 most common mistakes we see first-time buyers make—and how you can avoid them.

1. House Hunting Without a Mortgage Agreement in Principle (AIP)

We get it—it’s exciting to start browsing homes. But without an AIP, you’re shopping without a budget.

Why It Matters Locally

In high-demand areas like Colchester, Ipswich, and Sudbury, estate agents often prioritise buyers with a mortgage in principle already sorted.

Local Tip from Keyholder

We can usually arrange your AIP within 24 hours so you’re ready to make an offer with confidence.

2. Underestimating All the Costs Involved

Your deposit is just the beginning. Don’t forget about:

• Legal fees

• Valuation and survey costs

• Stamp Duty (if applicable)

• Local authority searches

• Moving costs

Why It Matters Locally

Costs can vary widely between rural Suffolk villages and growing Essex towns.

Local Tip from Keyholder

We’ll give you a personalised, transparent cost breakdown based on the area and type of property you’re buying.

3. Going Straight to Your Bank (and Missing Better Mortgage Deals)

Many first-time buyers default to their current bank—but that limits your options.

Why It Matters Locally

Some lenders don’t like ex-local authority homes or rural properties—both common in this region.

Local Tip from Keyholder

We’re a whole-of-market broker, giving you access to 90+ lenders—including ones that understand the unique property types in Braintree, Hadleigh, and Manningtree.

4. Overlooking Their Credit Score

Your credit score plays a big role in how much you can borrow—and at what rate.

Why It Matters Locally

We’ve seen buyers miss out on homes in competitive areas like Bury St Edmunds due to credit issues that could have been resolved in advance.

Local Tip from Keyholder

We’ll review your credit file with you and offer simple, actionable tips to boost your score before applying.

5. Skipping the Fine Print (Especially with Leasehold Homes)

Some first-time buyers overlook critical details like lease length, ground rent increases, or being part of a long property chain.

Why It Matters Locally

With more new builds across Suffolk and Essex, leasehold issues are a growing concern.

Local Tip from Keyholder

We’ll work alongside your solicitor to spot red flags early and protect your purchase.

🎯 Ready to Take the First Step?

We’re proud to help first-time buyers across Suffolk and Essex get on the property ladder with expert guidance and personal support every step of the way.

👉 Book your free first-time buyer consultation today📞 Call us: 07867728632 📧 Email: lois@keyholdermortgages.co.uk🌐 Or visit us at https://keyholdermortgages.co.uk