THE Greenock Mortgage Shop guarantee a professional and personal service for each and every customer.

The family-run firm has strong roots throughout the community, helping countless residents secure their dream properties.

Despite the current economic setback that Covid-19 has enforced, The Greenock Mortgage Shop, found on Cathcart Square, has experienced a sharp rise in demand.

And, in an exciting step for first-time buyers, The Greenock Mortgage Shop are able to offer expert advice on the First Home Fund scheme. Anyone is eligible for the First Home Fund as long as one of the applicants is a first-time buyer. You still need a 5% deposit, and it can be used on almost any property, it doesn’t need to be a new build.

With a strong reputation for exceptional service, Lloyd Kingsman, along with stepson Chris, will guide you through every step of the First Home Fund process. For example, if you bought a property for £100k you would need a minimum of £5k deposit, and could borrow up to £25k from the FHF to top up the deposit. Your combined deposit is therefore £30k meaning your mortgage is only £70k.

It works as shared equity, so however much you take as the loan will represent a percentage of the property. In the example above, this would be 25% (the exact percentage will vary depending on the figures of the purchase/borrow). There are no timescales to repay, but you would pay their share back whenever you sold, or if you wanted to buy out their share. This therefore means if your property value rises (or falls) whenever settling up, you would pay them back 25% (in this scenario) of the value at that time.

Applications open in April and can only be started once you have agreed a price on a property. Should you see anything of interest, and want to discuss figures, please get in touch with the Greenock Mortgage Shop on 01475 552552.

Please remember your home can be repossessed if you do not keep up your mortgage repayments.