First Time Buyer Mortgage Advice in Scunthorpe

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We’ll be with you Every Step of the way!

Taking out a mortgage is a huge financial commitment. Any First Time Buyers in Scunthorpe may find the mortgage process to be daunting. As an open & honest Mortgage Broker in Scunthorpe, it’s our job to make the process as stress-free as possible and find you the most suitable mortgage deal.

 

Here at Scunthorpemoneyman, our service goes beyond the mortgage, it’s all about the customer journey, how you got there and what happens next. We aim to keep the process simple and keep you in the loop at all times. Your Mortgage Advisor in Scunthorpe will be by your side at all times.

How Much Deposit do I Need for a Mortgage in Scunthorpe?

Depending on your credit score, can determine the amount of deposit required for a mortgage. We tend to find that First Time Buyers in Scunthorpe who have a good credit score, will have access to better mortgage rates and can put down a 5% deposit of the purchase price.

 

If you are a First Time Buyers in Scunthorpe with a much lower credit score, you may only have access to much higher rates and be required to put down a 10-15% + higher deposit.

 

Your deposit amount will also be different depending on the type of property you are looking to buy. The more expensive the property, the larger deposit needed.

Are There Ways to Help me get Onto the Property Ladder in Scunthorpe?

If you are struggling to save for the minimum deposit that is required, you may be eligible for one of the many governments help to buy schemes. These schemes were introduced as a means of helping First Time Buyers in Scunthorpe get onto the property ladder.

 

The schemes available currently include the Help to Buy Equity Loan, Shared Ownership, Mortgage Guarantee Scheme, the First Home Scheme, as well as a handful of others. Every one of these schemes is designed to help home buyers get onto the property ladder. To see find out if you qualify for any schemes, speak to a Mortgage Advisor in Scunthorpe today.

 

If you are a First Time Buyer in Scunthorpe, looking for quality Mortgage Advice in Scunthorpe. Book your free mortgage appointment with one of our Mortgage Advisors in Scunthorpe. They’ll be able to help you check eligibility and apply for your mortgage.

 

How does it work?Get a quote nowMeet your advisor

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Popular First Time Buyer Scunthorpe Mortgage Scenarios

Having over 20 years of experience working in the mortgage industry, our Mortgage Advisor in Sunderland has helped many First Time Buyers in Sunderland, get onto the property ladder.

 

There is rarely a situation that our Mortgage Advisors in Scunthorpe haven’t encountered before that they’ve resolved in the past. Below we felt it was best to compile a list of common First Time Buyer Scunthorpe questions, we often hear from customers who have spoken with a member of our team.

What will my costs be? How much can I borrow?

Many First Time Buyers in Scunthorpe wonder about the maximum amount they can borrow and their monthly costs. Your Mortgage Advisor in Scunthorpe will provide the exact amount on this.

What’s the next step after seeing a property that I like?

We recommend is to obtain an Agreement in Principle, which you may also see being referred to as a Decision in Principle, Mortgage in Principle, DIP, or AIP. Having this piece of documentation means that you have passed the lender’s initial credit check.

This shows the seller that you’re in a position to progress if they accept your offer, putting you ahead of other buyers. The good news is, one of our Mortgage Advice in Scunthorpe Team can turn around an Agreement in Principle within 24 hours of your initial appointment.

My offer got accepted, and I will like to proceed with my mortgage application?

Get back in touch with your Mortgage Broker in Scunthorpe. They will then proceed with your mortgage application. If hurdles get in the way, your expert Mortgage Advisor in Scunthorpe will have come across something similar in the past and know what to do to end up with a good outcome.

My bank turned me away, can I still get a mortgage?

We often hear from First Time Buyers in Scunthorpe who have been turned away from their bank for a variety of different reasons. Our team of Specialist Mortgage Advisors in Scunthorpe will work hard to find a solution for any issues you may face during your process. Book yourself in for a free mortgage appointment today.

Why choose us for first time buyer mortgage advice in Scunthorpe?

As a Mortgage Broker in Scunthorpe, we love helping First Time Buyers in Scunthorpe get onto the property ladder. Throughout the entire process, your Mortgage Advisor in Scunthorpe will be by your side, ready to answer any questions you may have about your mortgage journey.

 

One of the many benefits of a Mortgage Broker in Scunthorpe is we can search 1000’s of mortgage deals to find the most suitable one that suits your circumstances.

 

Another, is we are available seven days a week and aim to take the stress away and solve any hurdles we encounter along the way. The best part of our job is finding a property that you like and receiving the keys!

 

Please read our genuine customer reviews, as they are a true reflection of the level of dedication and support, we provide to all customers, on top of providing a quality service. To speak to one of our Mortgage Advisors in Scunthorpe, book your free mortgage appointment today.

Reviews Stars4.81 Rating16 Reviews

Common mortgage
questions

Your free mortgage consultation in Scunthorpe with a dedicated advisor will last for approximately one hour. From that point, we will then recommend a mortgage for you, with no obligation to accept and proceed if you change your mind at any point.

We will carry out a Fact Find to establish your individual circumstances and needs prior to recommending the most suitable mortgage. A credit check is something that will be required for an Agreement in Principle. Once you have given all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can then be issued to you.

To avoid facing disappointment at a later stage, we recommend you obtain an Agreement in Principle before you begin any property viewings in Scunthorpe. At the very latest you should obtain one before you start making offers, as that will assist your bargaining position.

An Agreement in Principle will generally last for anywhere between 30 and 90 days depending on the mortgage lender. If your Agreement in Principle expires, your mortgage advisor in Scunthorpe can refresh this for you.

It may be possible to get a second mortgage on your home if you’re looking to work towards debt consolidation or any home improvements, as well as if you’re wanting to use it for yourself, a family member, a holiday home or a potential Buy to Let.

The minimum deposit when for a property purchase in Scunthorpe with High Street Lenders is 5%, though it can be higher if you have had prior credit problems.

If you have a recent history of credit problems, it’s not impossible for you to get a mortgage, though you may possibly be required to put down a slightly higher deposit than typically expected, perhaps 15% of the property purchase price.

The documents you will need if you are an employee are three payslips to prove income and for self employed, you will need the latest 2 years’. As well as this, you will also need proof of ID, address and 3 months’ bank statements.

A free consultation usually lasts up to an hour or so. An agreement in principle can be ready for you within 24 hours. It takes on average three weeks for a formal mortgage offer.

You will be eligible for a mortgage but only once you have submitted at least one year’s accounts. Many Lenders calculate the maximum mortgage by taking your salary plus dividend, however, others are known to go off your net profit.

We make it so easy!
Our 4 step process

Step 1

A telephone test call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

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