How we helped Kelsey buy her first home in Sleaford

Buying your first home can feel like a big step, especially when you are working out how much you can borrow, what lenders will accept, and whether the house you want is actually within reach. For Kelsey, a first-time buyer in her twenties, the worry was simple: she had found a house in Sleaford but needed to know whether the mortgage side would work before she lost the property.

Our very own Tom Clifton helped Kelsey secure her mortgage with Accord Mortgages, with the case moving from application to completion in just over one month.

The situation

As a single applicant in her twenties, affordability was the biggest part of the case. Kelsey was employed as a Customer Adviser and had a £20,000 deposit, but she needed to borrow more than a standard income multiple calculation might usually allow.

This is where first-time buyers can easily feel stuck. You might have a steady job, a deposit saved and a property you want to buy, but still worry that a lender will not offer enough to make the purchase possible.

The turning point

Tom identified that Kelsey needed some additional borrowing power, because she was looking to borrow above a typical 4.5 times income calculation. That did not mean the case had to be pushed straight to a specialist lender charging much higher rates. Instead, Tom looked for a mainstream lender whose affordability criteria matched her circumstances.

Accord Mortgages allowed Kelsey to borrow what she needed without moving to a specialist lender, and it was the cheapest lender available for this case at the time of research.

The right lender criteria mattered more than a generic borrowing calculator.

Tom Clifton, Mortgage Adviser

The solution

The mortgage was arranged with Accord Mortgages on a five-year fixed rate: a £160,000 purchase, a £140,000 mortgage with Kelsey’s £20,000 deposit, at 88% loan to value over a 40-year term.

The case was successful, but not completely straightforward. There was some complexity around Kelsey’s income, particularly how her holiday pay worked over the Christmas period, which led to some back and forth with the underwriters. Rather than leaving Kelsey to field lender questions on her own, Tom managed the application, handled the queries and kept everything moving.

The result

The mortgage completed in just over a month. Kelsey bought her first home in Sleaford and moved forward without the mortgage side holding everything up.

What this case shows

You may be able to borrow more than you think

Different lenders use different affordability rules, so the first answer is not always the final one.

A mainstream lender may still be possible

A tight affordability case does not always mean specialist lending at a higher rate.

Getting advice early helps

Before giving up on a property, it is worth checking what lenders may actually offer.

Local context

Kelsey’s case is a good example of the first-time buyer situations we see locally. Sleaford has a mix of first homes, family houses and newer developments, and many buyers are working out whether their income, deposit and monthly budget are enough to move from renting into owning. This case was local from start to finish, with advice from Tom at Spolton Mortgages, based at Mill House on Carre Street in the centre of town.